For the purpose of safeguarding the smooth operation of the interbank FX market, when there is a failure in the equipment or communication lines of the interbank FX trading system (hereinafter referred to as the Trading System) as a result of which members are unable to engage in normal trading, the China Foreign Exchange Trade System (hereinafter referred to as CFETS) will provide the following emergency operating procedures for members of the foreign exchange market.

I. Emergency Trading

1. Emergency Trading shall apply exclusively to Request for Quote trading and Negotiate trading. Any member of the RMB/FX market, the G10 market, FX interest rate market and the Gold Market, who is unable to trade via a dedicated line may apply to the CFETS FX support team for emergency trading.

The application procedures for emergency trading are:

(1) Both parties to the transaction shall fill out the Application Form for Emergency trading completely. (Please find the attached application forms)

(2) Both parties to the transaction shall send the Application Form with the official seal or authorized signature via email, Fax, or iDeal to FX support team. If the application form is sent by the Authorized Sender through his/her iDeal account, specimen signature/seal is not required.

(3) Upon receipt of application form for emergency trading made by both parties to the transaction, the CFETS FX Support team shall enter the application into the Trading System to generate the transaction on the applicant’s behalf. (Note: the price for spot bilateral trading shall not fall outside the upper and lower limits of the central parity for the day)

2.The Adjustment of the Option Status in Bilateral Option Trading.

(1) The buyer who needs to exercise the option via CFETS on the expiry date and before the cut-off time, shall fill in the application form for the option emergency service with the official seal or authorized signature and send to CFETS. In principle, application received by CFETS in the last 30 minutes prior to the cut-off time will not be accepted. However, if agreed by the option seller, service application would follow the (2) procedure.

(2) If the buyer needs to adjust the option status during the exercise date, or the buyer needs to exercise the option via CFETS during thirty minutes before the cut-off time and the closing time of the trading period on the expiry date, due to error operation or execution, shall first have the seller’s permission and then both parties to the transaction shall send the application form to CFETS with the official seal or authorized signature.

(3) When CFETS receives and confirms the application is qualified, CFETS will exercise the option on the applicant’s behalf.

3. Printing the Deal Ticket

(1) The CFETS FX support team will help generate the deal ticket and send that to both sides to the transaction by designated method (e-mail, fax etc.). Emergency trading data shall be automatically transferred to the member's trading data statistics.

(2) If a member executes a transaction through the Trading System but is unable to print out the deal ticket, the member may also contact the duty administrator of the CFETS FX Support.

4. Trade Revocation

(1) Trade revocation shall apply exclusively to bilateral and matching trading on the same transaction day.

(2) The following transactions shall be excluded from the scope of emergency trade revocation: T+1 transactions subject to centralized net clearing after 14:30 on the transaction day; T+0 transactions of onshore bond FX repos; T+0 transactions with settlement method except net clearing after trade confirmation; the revocation of option within an option portfolio.

(3) After completing and sealing the application form, both parties to the transaction shall send the forms to CFETS FX support via email, FAX, or iDeal. If the application form is sent by the Authorized Sender through his/her iDeal account, specimen signature/seal is not required.

5.Quotation Withdrawal

(1) Quotation withdrawal shall apply exclusively to matching trading on the same transaction day.

(2) The member shall provide the complete application form and send the forms to CFETS FX support via email, FAX, or iDeal. If the application form is sent by the Authorized Sender through his/her iDeal account, specimen signature/seal is not required.

6. Contingency Reporting Application Form for RMB Purchases and Sales

(1) If a member needs to submit the contingency report for RMB purchases and sales, the member shall fill out the Contingency Reporting Application Form completely and transmit it to CFETS via email, Fax, or iDeal.

(2) Upon receipt of a qualified contingency reporting Application Form, CFETS will submit the reporting on the member’s behalf in the Trading System.

II. Service time

1.The CFETS FX support team could provide the emergency service to the members, during the trading hours for the relevant trading products on each trading day.

2.Note: In principle, the cut-off time of emergency services shall be 30 minutes before the market closing, which is 2:30 a.m. the next day. (Beijing time)

III. Contact Information

Tel: 4009787878-1-1;

Fax: 021-58958525;

E-mail: fxsupport@chinamoney.com.cn;

The Wechat Official account: CFETSFX;

iDeal: FX Helpdesk01, FX Helpdesk02.

Appendixes:

1.Application Form for Emergency FX Spot Bilateral Trading

2.Application Form for Emergency Forward Bilateral Trading

3.Application Form for Emergency Swap Bilateral Trading

4.Application Form for Emergency FX Option Trading

5.Application Form for Emergency Adjustment of FX Option Exercise status

6.Application Form for Emergency Cross Currency Swap Trading

7.Application Form for Emergency NDF Trading

8.Application Form for Emergency Foreign Currency Lending Bilateral Trading

9.Application Form for Emergency FX Interest Rate Swap Trading

10.Application Form for Emergency Trade Revocation

11.Application Form for Emergency Quotation Withdraw

12.Contingency Reporting Application Form for RMB Purchases and Sales

13.Letter of Authorization (Template)