The author thinks that the within features of futures clearing house will be helpful for avoiding economic crises.
期货市场完整性问题一直受到理论界和政府监管当局的关注,引发了许多争论,其核心问题是在保证市场完整性上,是主要依靠结算所还是主要依靠政府监管当局。
"Where a recognized clearing house takes any default proceedings, "
凡认可结算所采取失责处理程序，
the default rules of a recognized clearing house;
认可结算所的失责处理规则；
the rules of a recognized clearing house relating to the settlement of a market contract;
有关市场合约交收的认可结算所规则；
"For the purposes of subsection (10), ""rules"", in relation to a recognized clearing house, do not include the constitution of the clearing house."
就第（１０）款而言，认可结算所的“规则”（ｒｕｌｅｓ），不包括该结算所的章程。
"it may, with the consent in writing of the Financial Secretary, by notice in the Gazette, declare a clearing house to be a recognized clearing house for the purposes of this Ordinance."
则经财政司的书面同意，可借宪报公告，宣布一间结算所为本条例适用的认可结算所。
"Subject to subsections (2) and (3), where securities are deposited with a recognized clearing house by a participant;"
在符合第（２）及（３）款的规限下，凡参与者按照认可结算所规则把证券存放于该结算所，
"Neither a person performing, by virtue of any delegation in accordance with the default rules of a recognized clearing house,any functions of the clearing house in connection with any default proceedings, "
凭借认可结算所的失责处理规则获授权执行该结算所的有关失责处理程序职能的人，
"Where a recognized clearing house has power by virtue of the provisions of this section to apply property notwithstanding an interest, right or remedy,"
若认可结算所凭借本条条文仍有权运用财产，则当该结算所按照其规则处置该财产时，
The Commission may request in writing a recognized clearing house to make rules specified in the request; and within the period specified in the request;
监察委员会可以书面请求认可结算所在请求所指明的期限内，订立请求所指明的规则；
The provisions of this section shall have effect with respect to the application by a recognized clearing house of property provided as market collateral.
本条条文适用于认可结算所对提供作市场抵押品的财产的运用。
a contract effected by a recognized clearing house for the purpose of realizing property provided as market collateral;
认可结算所为把提供作市场抵押品的财产变现而订立的合约；
A recognized clearing house which has made a report pursuant to subsection (1) shall supply the report to the Commission;
认可结算所依据第（１）款作出报告后，须将报告交给监察委员会；
the settlement in accordance with the rules of a recognized clearing house of a market contract; or any default proceedings.
按照认可结算所规则作出的市场合约交收；或失责处理程序。
Where a participant in his capacity as such enters into any transaction (including a market contract) with a recognized clearing house;
凡参与者以该身分与认可结算所进行任何交易（包括市场合约）；
the clearing house may include in that report such other particulars in respect of such proceedings as it thinks fit.
而认可结算所可把它认为合适的其他有关该等处理程序的详情包括在报告之内。
"Where the Commission is satisfied that a recognized clearing house has not complied with a request referred to in subsection (10) within the period specified in the request,"
凡监察委员会信纳认可结算所未有在第（１０）款所指的请求所指明的期限内，遵行该请求，
any proceedings or other action taken under the rules of a recognized clearing house relating to the settlement of a market contract;
根据认可结算所的有关市场合约交收的规则所采取的处理程序或其他行动；
"Where a relevant office-holder takes any action in relation to property of a defaulter which is liable to be dealt with in accordance with the default rules of a recognized clearing house, "
凡失责人的财产可按照认可结算所的失责处理规则处理，而有关人员就该财产采取任何行动，
