Frequently Asked Questions

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Enterprises that meet the following conditions may apply to open an account and become a QME participant: 

  •  a legal person or other organization lawfully incorporated and validly existing within the People's Republic of China;
  •  have a fixed premise for business;
  •  have registered capital of not less than RMB 100,000
  •  comply with the law and has normal business operation;
  •  not on the list of persons subject to execution due to their default or list of bankruptcy or composition arrangement;
  •  eligible as a general taxpayer of Value Added Tax (VAT);
  •  a legal person or other organization which has obtained the qualification as a participant and an authorisation to conduct spot quotation and trading business may engage in the spot quotation and trading business in respect of QME commodities.
     

Interested customers shall first apply to QME for account opening and submit written documents. After reviewing and approving the application, QME will assign a user code to the enterprise which can then download the customer portal and register. QME will then grant certain business authorisations to the enterprise and add a settlement account for it. Then the enterprise shall log into the portal and set up a password for the account. Upon the completion of the above steps, the enterprise shall sign a contract for the bank account at the designated bank to complete the entire account opening process.

After the customer completes the account opening and registration, it will obtain the trading system administrator account which has all access rights to the system operation. Customers can set up operators with different access rights according to their business and risk control needs, and the operators can then perform all kinds of operations by logging into the system.
Operator setting is based on actual business management needs. Operators can be classified by business functions, such as the ones controlling trading exclusively, and the ones exclusively responsible for the transfer and management of funds. 
The operator setting steps are as follows: log in to the system as an administrator; add a new operator, and then assign to the operator menu access groups (i.e., the menus that the operator can review and operate via the customer portal) and the product access groups (i.e. the type of products that the operator can operate), and then a trading account (for the operator who needs to operate transactions).

 

A CA certificate is a tool that will provide an electronic certification for participants trading on the QME platform. QME identifies customers by CA certificates to ensure that their trading is confidential, acknowledged, complete and secure.

The certificate is mainly used for electronic verification of transaction information, so it is only necessary for the submission and modification of the listing price as well as delisting but not for other operations.

Yes. Different people can use the same CA certificate by inserting different CA certificates into different computers’ USB port. CA certificate information shows the company's electronic verification information, so it is recommended that the enterprises shall properly register, use and keep the CA certificates.