The China Securities Regulatory Commission (CSRC) has approved the listing of Live Hog (LH) futures on Dalian Commodity Exchange (DCE) and relevant matters are hereby announced as follows:
I. Listing and Trading Time
The Live Hog futures will be listed and traded on January 8 (Friday), 2021.
The trading sessions are 09:00-10:15, 10:30-11:30 and 13:30-15:00.
II. Contracts to Be Listed and Traded
The first batch of contracts to be listed and traded includes LH2109, LH2111, LH2201.
III. Trading Margins and Price Limits
The price limits of Live Hog futures shall be 8% of the settlement price of the last trading day. On the first trading day, the price limits of Live Hog futures shall be 16% of the listing benchmark prices.
The hedging trading margins of Live Hog futures shall be 8% of the contract value and the speculation trading margins shall be 15% of the contract value.
Other provisions shall be subject to the Measures for Risk Management of Dalian Commodity Exchange.
IV. Trading Limit
The quantity of opening positions of Live Hog futures of the Non-Futures Company Member or client shall not exceed 500 lots on any single day. The opening positions on any single day are the combined trading volume of opening long and short positions of all contract months held by the Non-Futures Company Member or client on that day.
The hedging trading volume of opening positions shall be exempted.
Accounts involving actual control relationship shall be managed as one single account.
Other provisions shall be subject to the Measures for Risk Management of Dalian Commodity Exchange.
V. Trading Commission
The trading commission is 0.02% of the amount of the concluded contracts. The intraday trading commission is 0.04% of the amount of the concluded contracts.
VI. Delivery Commission and Storage Fee
The delivery commission is 1 CNY / MT, which is not charged temporarily. The storage fee is 5 CNY / MT per day.
VII. Transfer Fee for Standard Warehouse Receipt
The transfer fee for the standard warehouse receipt is 0 CNY / MT.
VIII. Position Information Disclosure
DCE will release the trading volumes and open interests of Live Hog futures contracts after the settlement on each trading day.
IX. Starting Date for Standard Warehouse Receipt Registration
DCE will start the business of standard warehouse receipt registration from August 2, 2021.
X. Inspection and Fee Payment
The inspection fee is 3,000 CNY / 3 lots and those that are less than 3 lots shall be counted as 3 lots. The inspection shall be carried out by the quality inspection agencies designated by DCE and the inspection fee will be borne by DCE temporarily.
The listing benchmark prices of the new contracts, the delivery areas, premiums / discounts of different regions, designated quality inspection agencies, designated delivery warehouses and designated FOT delivery sites will be notified before the listing of Live Hog futures by DCE.
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