金融强监管又有新动向。 6月以来，中国期货业协会（下称"中期协"）集中公布十余张纪律处分决定书，涉及中泰汇融、渤 海融盛等多家期货风险管理子公司。券商中国记者发现，这是中期协2024年底以来首次在网站上公布新 的纪律处分。 场外衍生品业务成监管重点 6月6日，中期协也公布了多张纪律处分决定书。中泰汇融资本投资有限公司（中泰期货旗下风险管 理子公司，下称"中泰汇融"）在被处分名单中，中期协指出，经查明，中泰汇融在开展场外衍生品交易 业务过程中，为协助客户获得项目支持，在有关联关系的客户之间进行"标的一致、交易日期一致、执 行价格一致、买卖方向相反、交易结构相同"的交易，未基于实质业务需求，属于不正当交易行为，违 反了相关规定，中期协依据相关办法给予中泰汇融"训诫"的纪律惩戒。 一些行业头部公司也在被处分之列。中信中证资本管理有限公司（中信期货旗下风险管理子公司， 下称"中证资本"）及该公司衍生品市场部高级经理王雪蓉，均被中期协给予"训诫"的纪律惩戒。中期协 在纪律处分决定书中指出，经查明，王雪蓉明知作为客户的私募基金产品为个人投资者参与场外衍生品 业务通道，未能严格执行客户适当性管理规定；中证资本未能有效执行风 ...

Core Viewpoint - The article highlights the recent disciplinary actions taken by the China Futures Association (CFA) against several futures risk management subsidiaries, indicating a focus on compliance and risk management in the over-the-counter derivatives business. Group 1: Disciplinary Actions - Since June, the CFA has issued multiple disciplinary decisions against futures risk management subsidiaries, marking the first new announcements since the end of 2024 [1] - The CFA's recent focus on the over-the-counter derivatives business is evident, with companies like Bohai Rongsheng Capital Management and Shanghai Rongzhi Industrial receiving reprimands for failing to meet compliance requirements [2] - Zhongtai Huirong Capital Investment was penalized for engaging in improper trading practices that did not align with substantive business needs, resulting in a disciplinary reprimand [3] Group 2: Market Development - Despite stringent regulations, the futures market in China continues to show strong development momentum, with a reported trading volume of 6.79 billion contracts and a turnover of 54.73 trillion yuan in May, reflecting a year-on-year decrease of 4.51% and 1.55% respectively [4] - Cumulatively, from January to May, the trading volume reached 33.37 billion contracts, with a turnover of 286.93 trillion yuan, marking year-on-year increases of 15.61% and 21.33% [4] - The net profit of futures companies has significantly increased, with total operating income of 120.75 billion yuan and net profit of 32.64 billion yuan reported for the first four months of the year, representing year-on-year growth of 6.32% and 38.83% respectively [4]