Guidelines for the contents of Business Plans

此段內容取自期交所對會員之要求,以供參考(請參考會方最新資料為準)

All membership applications should submit a Business Plan containing

(at a minimum) the following information:

1. Overview of the Business

An outline of the strategies and aims of the applicant, specifically addressing the following:

Group ownership chart showing holding company and fellow subsidiaries
例：Tai Fair Sec. Ltd.；Tai Fair Futures 。。。
Futures markets in which the applicant intends to participate

例：HONG KONG MARKET ONLY

HKFE products which the applicant intends to trade

例：HANG SENG INDEX FUTURES ONLY

如做期權，加入有關項目
Source of client base

例：股票客戶中之孖展客
Types of accounts to be operated by clients, house and / or registered trader

例：Individual, Corporate 或 House A/c

2. Organization Chart

This should be a diagrammatic representation of:

The key departments approximate size and positions in those departments.
Job titles, job descriptions and names of proposed staff, if known (if unknown, the criteria for recruitment of such staff ) 期貨公司各負責人及職務，經考試有証監牌者為佳

A description of the background and experience of key staff members should also be included (unless already covered by the shareholder and Director information supplied separately).

The applicant should specify a designated person to be responsible for ensuring compliance with the Rules of the Exchange. The relevant experience and qualifications of this person should be included. This person should have adequate knowledge, experience and qualifications in compliance functions, and be independent from the applicant's dealing functions.

　

3. Risk Management

The applicant should provide the details of:

Accounting opening process, criteria to be used in the approval of new clients, credit assessment process and client account documentation to be delivered to clients.
例：Credit review, 了解期貨風險，足夠按金，及持倉上限
Basis to be used for determining client trading limits
例：follow market requirement.
Proposed-margining policies and monitoring procedures in respect of margin payments, margining calls, margin rate and day trades.
例：Must have sufficient margin deposit and close out for
those failed to comply.
Employ POP's system for Hang Seng Index & Option for
the ability to monitor margin requirement during data
entry.
Credit facilities to be provided to clients by the applicant's group company and the relevant credit policy (if applicable)
答：NOT APPLICABLE 不建議
Procedures to be put in place to deal with deficit accounts and specific action to be taken to recover debt.
答：will closed out all open positions for clients with deficit balance and suspend account until recovered.
Proposed policies and risk management procedures to be put in place to the applicant. This should include approval or trading strategies, imposition of trading and/or position limits and independent assessment and monitoring of exposure. (if applicable)
例：day trade limit = 20, over-night = 5 for all client unless approved by director. Special position limits control will be for client with more then 50 contracts.
Propose policies and risk management procedures in respect of trading as a RT
例：(NOT APPLICABLE)
Proposed error correction procedures to be adopted to ensure compliance with the requirements of the Exchange and the treatment for open positions resulting from erroneous trades.
例：A house account other then the one for normal trade will be used to keep erroneous trade. All positions will be closed out as soon as possible.
Proposed Large Open Position reporting procedures including specific arrangements to obtain ultimate beneficial identities from omnibus operators (if applicable)
例：any account with open position for more then 50 contract will be monitored. Will report to HKFE for any position holding exceeding the limit. (This is not recommended situation for the company)
Other propose guidelines and procedures in place to govern risk taking
例：House A/c will not carry over-night position …etc.
Management information to be used for controlling and monitoring risks.
例：produce Daily Margin Position report for AE and
credit controller

　

　

4. Operating System

A description of the actual of proposed software package to be used by the applicant along with a brief overview (narrative and / or flowchart ) of the intended operating system and procedures including the following areas:

Account opening and approval
order receiving and processing
Margin calculation, call and monitoring
Handling of client funds
Management information for controlling and monitoring risks

In particular the applicant should address additional manual procedures required to supplement possible limitations of packaged software ( e.g. Margin calculations for day trades ).答：POP系統可以處理INTRADAY MARGIN CALL。

The applicant should at some stage provide a copy of the proposed Client Documentation ( as soon as it is available ).

5. Accounting System

A description of the actual or proposed software package to be used by the applicant along with a brief overview ( narrative and / or flowchart ) of the intended accounting system and procedures including the following area : 答：Will use POP systems for Hang Seng Index & Options
system and the accounting system.

Accounts and reports to be produced and the frequency of reporting

Monitoring and calculation of Adjusted Net Admissible Assets
Reconciliation procedures ( client accounts, bank accounts ), etc
Whether the system will be interfaced with the Operation System

答：Daily Transaction details,

Daily Open Positions Report

Daily Margin Call Report

Daily statement

Daily Off-set claim report

Daily Accounting report (for reconcile with HKFECC)

Monthly Statements for clients.

FRR REPORT (monthly)

　

6. Employee trading

The applicant should state its policy in relation to employees' and / or Directors trading and ( where applicable ) and give details of the intended procedures for monitoring employees' / Directors' trades and how there and how these will be communicated.
例：Special client code is reserved for staff or directors trading.

7. Proprietary trading

The applicant should outline whether it will participate in proprietary trading ( on behalf of the Member firm or any of its affiliated companies, whether inside or outside Hong Kong). In addition details of any omnibus accounts intended to be operated by affiliated companies and the nature of such accounts should be provided.
例：Will use house account for proprietary trading. 或者不設house a/c，
 視乎貴公司業務

8. Financial information

Any proposals for the provision of subordinated loans etc. or the provision of financial support from the parent or other group companies should be specified together with procedures for ensuring compliance with the financial requirements of membership of the Exchange.

填上貴公司財務狀況