China financial futures exchange (hereinafter referred to as "CFFEX") is a company system exchange established with the approval of the state council and China securities regulatory commission, specializing in trading and settlement of financial derivatives such as financial futures and options.Initiated by Shanghai futures exchange, zhengzhou Commodity Exchange, dalian Commodity Exchange, Shanghai stock exchange and shenzhen stock exchange, cicc was formally established in Shanghai on September 8, 2006.The establishment of cicc and development of financial futures is of great strategic significance for deepening financial market reform, improving financial market system, giving play to the functions of financial market and adapting to the new normal of economy.

The securities and futures commission (SFC) was established in 1989 as an independent statutory body to oversee the operation of the securities and futures market in Hong Kong.The securities and futures ordinance and its subsidiary legislation give the SFC the power to investigate, correct and discipline.It operates independently of the government of the Hong Kong special administrative region and is funded mainly by transaction levy and licence fees.As the financial regulator of the international financial centre, the SFC has been committed to strengthening and safeguarding the integrity and soundness of Hong Kong's securities and futures markets, thus safeguarding the interests of investors and the industry.