No more sweet arbitrage treats Shanghai and Shenzhen Stock Exchanges have released a public consultation on improving arrangements for Listed Open-Ended Funds (LOFs). They've clarified the classification of certain scenarios and procedures for LOF delisting, and set clear delisting timelines for Commodity Futures LOFs, QDII LOFs, and Mini LOFs. First, it's been specified that Commodity Futures LOFs, QDII LOFs, and LOFs with net asset values below 10 million yuan for 60 consecutive trading days must be delisted, with procedures outlined for the delisting process. For Commodity Futures LOFs and QDII LOFs, since some products have a large number of holders, the new rules introduce a transition period with specific arrangements: these products must be delisted by the end of 2027. Fund managers are required to make proper arrangements during the transition period and submit relevant delisting documents to the exchange by November 12, 2027, at the latest.