National Cotton Exchange Market Releases New Reserve Cotton Reserve and Storage Mode

All deposit companies and traders:

In order to prevent individual companies from using unfair means to interfere with the trading system and ensure the fairness and fairness of the temporary purchase and storage of cotton, it was reported to the relevant authorities for approval and decided to improve the way of cotton collection and storage. The specific trading rules are:

1. Before 15:00 of each trading day, China Reserve Cotton Management Corporation and the National Cotton Exchange Market split the quantity of storage and storage of each storage warehouse into a number of independent reserve indicators, which are then displayed side by side in the collection and storage of cotton. In the trading system, traders can browse in time to prepare for participating in transactions. At 16:00 on the same day, all qualified traders can participate in the auction at the same time.

2. In the transaction, the 60th time for each stock index was clicked as a valid order for the transaction, that is, the trader who made the 60th click won this stock index. During the period, each stock index can only be clicked once every 1 second. Clicking on the same stock index within 1 second is considered invalid by the system.

3. Each trader participating in the transaction can only issue a valid click once every 10 seconds. The second click issued by the same trader within 10 seconds is considered invalid by the system.

4. At 16:25 on the same day, the trading system entered a countdown to closing the market. There was no new click within 1 minute and the system was closed. When the market is closed, the last valid click is used as the effective instruction for closing the transaction.

5. At the close of the market, except for a stock index that failed to achieve the 60th click, the same encryption card can only trade one stock index on the same trading day. For this reason, the purchase and storage trading system regards the 60th click of any other storage target after the 60th click of a certain stock index as trader to consider as an invalid trading order.

The above trading rules are implemented from October 30, 2012.

Special announcement.

National Cotton Exchange Market

China Reserve Cotton Management Corporation
October 30, 2012