On 5 December, the Shanghai Stock Exchange ("SHSE") sought public comments on the Trading Rules of the Shanghai Stock Exchange for the Stock Option Pilot Program (Draft for Comment) (the "Trading Rules") it formulated. Supporting rules that are also under consultation include the Guidance for the Eligibility Management of Investors under the Stock Option Pilot Program and the Guidance for Market Maker Business under the Stock Option Pilot Program. The cut-off date for submitting comments is December 19, 2014.

The Trading Rules contain comprehensive, overall and basic provisions on the listing, contract management, trading, exercise, risk control, trading supervision, and other related aspects of stock options, providing institutional support for the carrying out of the stock option pilot program. Among others, with respect to the trading of stock options, the Trading Rules explicitly provide for the system of eligibility management of investors, account setting, entrustment and declaration, bidding and conclusion of a deal, price limit, circuit breaker mechanism, trading suspension and resumption, trading abnormalities and the handling thereof, release of market quotations, etc.

(Source: www.sse.com.cn)