Measures for Membership Suitability Management

Chapter I General Provisions

Article 1. To protect the legitimate rights and interests of members of Beijing Iron Ore Trading Center Corporation (hereinafter referred to as "COREX") participating in its iron ore spot trading, ensure the stable and orderly operation of COREX’s trading activities, and maintain the market order, these Measures are formulated in accordance with relevant national laws and regulations, the "Measures for the Administration of Trading Venues in Beijing", and the trading rules of COREX.

Article 2. COREX shall conduct membership suitability management in accordance with these Measures. Members engaged in trading via COREX and third-party service institutions for COREX’s members shall also cooperate with COREX in the implementation of such management.

Chapter II Suitability Management

Article 3. Suitability management includes the following:

1. Understanding members’ basic information and their risk tolerance;

2. Publishing trading rules and related management regulations, and conducting member training and education;

3. Fully disclosing trading brands and market risks.

Article 4. Corporate legal entities may participate in iron ore spot trading organized by COREX only after obtaining membership. Members shall fully understand market risks and agree to the "Risk Specification for Iron Ore Spot Trading" and the "Letter of Commitment for Market Access by Trading Members of Iron Ore Spot Trading."

Article 5. Members shall possess relevant knowledge of iron ore spot trading, objectively assess their risk tolerance, adhere to the principle of assumption of risks, make prudent decisions, voluntarily participate in trading, and independently bear risks in accordance with the law.

Article 6. COREX shall assess the risk tolerance of members. Members shall truthfully assess their risks and provide information including basic details, financial status, trading experience, and other relevant information.

Article 7. Members shall, in accordance with COREX trading rules and these Measures, provide their information truthfully and ensure the authenticity, accuracy and completeness of the information provided.

Article 8. Members shall, in accordance with COREX trading rules, independently review the suitability of the members they intend to trade with. They may match with the latter upon verifying their qualifications and creditworthiness in iron ore spot trading. Trading shall take place only between matched members.

Article 9. COREX shall disclose trading rules and related documents, introduce the characteristics of trading business, trading processes, main risks and precautions to members through various channels, and continuously carry out member education and training.

Article 10. COREX shall fully inform members of potential trading risks, issue market risk warnings, and guide members to trade rationally.

Article 11. COREX’s membership suitability management shall not replace members' trading judgments nor reduce the risks associated with participating in COREX trading activities. The corresponding trading risks, performance responsibilities, and costs shall be borne by members themselves.

Article 12. COREX shall properly retain materials related to membership suitability management and shall maintain confidentiality of member information.

Chapter III Supplementary Provisions

Article 13. COREX reserves the right to interpret and revise these Measures.

Article 14. Both Chinese and English versions are valid. In case of any inconsistency, the Chinese version shall prevail.

会员适当性管理办法

第一章 总 则

第一条 为保护参与北京铁矿石交易中心股份有限公司（以下简称“北铁中心”）组织的铁矿石现货交易活动的会员合法权益，保障北铁中心各项交易活动的平稳有序，维护交易市场秩序，根据国家相关法律法规、《北京市交易场所管理办法》及北铁中心交易规则等，制定本办法。

第二条 北铁中心依据本办法进行会员适当性管理。参与北铁中心交易活动的会员、为会员提供服务的第三方服务机构应当配合实施会员适当性管理相关工作。

第二章 适当性管理

第三条 适当性管理包括以下内容：

（一）了解会员相关情况及风险承受能力；

（二）发布交易规则及相关管理制度，开展会员培训与教育活动；

（三）充分披露交易品种，提示市场风险信息。

第四条 企业法人在获得会员资格后，方可参与北铁中心组织的铁矿石现货交易，并应充分了解市场风险并同意《铁矿石现货交易风险说明书》和《铁矿石现货交易会员入市承诺书》。

第五条 会员应当具备铁矿石现货交易的相关知识，并客观评估自身风险承受能力，遵循风险自负原则，审慎决策，自愿参与交易并依法独立承担风险。

第六条 北铁中心对会员进行风险承受能力评估，会员应如实进行风险评估，填写包括基本情况、财务情况、交易经验等信息。

第七条 会员应当根据北铁中心交易规则及本办法规定，如实提供相关信息，并保证所提供信息的真实性、准确性和完整性。

第八条 会员应当依据北铁中心交易规则要求，自行审查与其进行交易的会员适当性。会员经过考察，认可与其进行铁矿石现货交易的会员资质、信用后与其进行匹配，进行匹配的会员之间方可进行交易。

第九条 北铁中心披露交易规则及相关文件，通过多种途径向会员介绍交易业务特点、交易流程、主要风险和注意事项等，持续开展会员教育与培训工作。

第十条 北铁中心向会员充分提示可能出现的交易风险，进行市场风险警示，引导会员理性交易。

第十一条 北铁中心会员适当性管理的实施不能取代会员的交易判断，也不会降低会员参与北铁中心交易活动的风险，相应的交易风险、履约责任以及费用由会员自行承担。

第十二条 北铁中心妥善保管对会员进行适当性管理的资料，并对会员的信息承担保密义务。

第三章 附 则

第十三条 本办法由北铁中心负责解释和修订。