# CZCE disciplinary decision 2026 No. 157: apple futures position-limit evasion

The official Chinese text prevails.

## English summary

In decision 2026 No. 157, CZCE found that two individuals used improper means to evade position limits and held excess positions in apple futures contract 2404 from 4 to 13 March 2024, affecting futures prices. Citing Article 31 of its violation-handling rules, CZCE imposed public censure and declared the individuals barred from market entry for three years. The disciplinary results will be recorded in the securities and futures market integrity database.

Timing stated in this notice: Not established by this summary. Consult the official Chinese notice.

Scope: The two individuals named in decision 2026 No. 157, concerning apple futures contract 2404.

Limitations: This is an individual disciplinary decision, not a market-wide change to position limits. The notice does not state a separate commencement date for the three-year restriction.

Topics: [Compliance](https://chinaexchangecirculars.com/topics/compliance/), [Trading limits](https://chinaexchangecirculars.com/topics/trading-limits/)

## Evidence excerpts

> 〔2026〕157号

> 于2024年3月4日至3月13日在苹果期货2404合约上

> 利用不正当手段规避交易所的持仓限制，超限持仓

> 公开谴责、宣布为“市场禁止进入者”（期限三年）

## Source and dates

Original Chinese title: 纪律处分决定公告

Official publication date: 2026-10-23

[Official Chinese source](http://www.czce.com.cn/cn/gyjys/jysdt/ggytz/webinfo/2026/10/7dfa05e2f7924b93bf11387ea48e3732.htm)

[CEC HTML](https://chinaexchangecirculars.com/notices/czce-c2716ffd792e0153be89/) · [Canonical notice](https://chinaexchangecirculars.com/notices/czce-c2716ffd792e0153be89/)

## Chinese original

```text
〔2026〕157号 当事人：姜晔，户籍地山东省龙口市。当事人：马洪广，户籍地山东省栖霞市。经查明，上述当事人于2024年3月4日至3月13日在苹果期货2404合约上，存在利用不正当手段规避交易所的持仓限制，超限持仓，影响期货交易价格的违规行为。以上事实，有相关交易记录等证据证明。依据《郑州商品交易所违规处理办法》（〔2022〕74号）第三十一条规定，结合本案当事人实施违规行为的具体情节，郑州商品交易所决定给予姜晔、马洪广公开谴责、宣布为“市场禁止进入者”（期限三年）的纪律处分，并将上述纪律处分结果记入证券期货市场诚信档案数据库。特此公告。 郑州商品交易所2026年10月23日
```

Independently compiled for information only, not investment advice. Official Chinese notices and your broker’s applicable terms prevail.