Futures trading contains considerable risk and may lead to huge losses, the total amount of which may exceed the total amount of your deposit  in the futures brokerage company as for initial margin and maintenance margin. Consequently, You must give serious consideration that your financial conditions is suitable to futures trading.

To determine whether or not to trade futures, you should clarify the following statement:

First, when you trade in the futures markets, if the market goes against you and it leads to a deficit maintenance margin, the futures brokerage company will inform you to deposit more into your account according to the deadline and methods that futures brokerage contract defines, so that you can continue to hold your open positions. If you does not deposit in time, your open positions will be forced for liquidation when it is probably still under water, and you must bear the total losses.

Second, you must read with care and follow regulations of futures exchanges and futures brokerage company. If you are not able to meet their requirement, your open position will be forced for liquidation under the regulations, and you must bear the consequences.

Third, under certain market conditions, it may be difficult or impossible to liquidate open positions, for example, when market hits daily price limit. Under these market conditions, you must bear the total resulting losses if your margin deposit is deficit to total losses.

Fourth, due to changes of laws, regulations and policies, regulation amendment and emergency measures of futures exchange, your open positions will not be held, and you must bear the resulting losses.

Fifth, due to uncontrollable reasons for futures exchanges and futures brokerage company, i.e. earthquake, flood, fire and other force majeure, computer system failures or telecommunication system failures, etc. your order may not be executed or not completely executed, and you must bear the resulting losses.

Sixth, in domestic futures trading, all transactions will be based on settlement data of exchange or settlement agency. If you trade on real-time intraday data, you will bear additional risk.

Seventh, hedging strategy will face the same risk of price fluctuation as speculative trading.

Eighth, if you fail to comply with regulations on futures margin depository safety by China Securities Regulatory Commission, you futures margin depository safety will be jeopardized.

Ninth, Trading via internet will be exposed to (but not limited to) the following risks, and you will bear the resulting losses:

1. Due to uncontrollable and unpredictable system failures, equipment failures, communication failures, power failures, network failures, etc, trading system malfunctions and even paralyzes, which will delay, interrupt or invalidate your order.

2. Due to the chance that online trading system be hacked or injected by virus, trading system failures will occur, orders can not be executed and real-time data will be invalidated or delayed.

3. Due to busy communication of internet data transfer, thus leading to delay, interruption, invalidation and incompletion of data, online trading will be delayed or interrupted.

4. Due to your inexperience on online trading, malfunctions will cause failed order or misplaced order.

5. Your password may be compromised or stolen by others.

This Future Trading Risk Disclosure can not disclose all risks involved in futures trading and all the circumstances related with futures markets. Therefore, before you start trading futures, you should have a comprehensive understanding of futures trading laws and regulations, futures exchange regulations and futures brokerage company operating rules, as well as make objective evaluations on your own financial conditions, risk appetite, physical and psychological tolerance. (individual investors only)

The above content of Futures Trading Risk Disclosure, I/My company have read and fully understood.