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中期协公布《程序化交易委托协议文本(必备条款)》和三项期货行业推荐性团体标准
Qi Huo Ri Bao Wang· 2025-09-05 14:08
Core Viewpoint - The China Futures Association has announced the implementation of the "Programmatic Trading Entrustment Agreement Text (Essential Clauses)" to standardize the entrustment agreement signing and performance behavior for programmatic trading in the futures market, effective from October 9, 2025 [1] Group 1 - The "Essential Clauses" were developed after extensive consultation and are aimed at fulfilling the requirements of the "Regulations on the Management of Programmatic Trading in the Futures Market (Trial)" [1] - Futures companies must sign an entrustment agreement with clients before accepting programmatic trading entrustments, and those already engaged in programmatic trading must sign the agreement within six months of the implementation date [1] - The entrustment agreement must include all contents of the "Essential Clauses," and futures companies may add provisions based on their own risk control requirements [1] Group 2 - On the same day, the China Futures Association also published three recommended industry standards, including "Guidelines for Functional Testing of Futures Programmatic Trading Systems" (T/ZQX 0004-2025), "Testing Guidelines for Futures Company Trading Information Systems" (T/ZQX 0005-2025), and "Futures Company Counter System Management Interface Standards Part 1: Deposit and Withdrawal Interface" (T/ZQX 0006.1-2025), which will be implemented immediately upon publication [1]