China Commodity Exchanges Notice on Trading Arrangements and Adjustments to Price Limits and Trading Margins during 2021 Spring Festival Holidays
The Exchange trading arrangements and adjustments to price limits and trading margins for the 2021 Spring Festival Holidays are as follows:
l Trading Arrangements
No night trading session will be carried out on the night of February 10, 2021.
The market will be closed from February 11, 2021 to February 17, 2021.
The market will resume trading on February 18, 2021 with the central auction session from 8:55 a.m. to 9:00 a.m.
Night trading session will be resumed on the night of February 18, 2021.
l Adjustments to Price Limits and Trading Margins
DCE
Ø During the holiday
From the settlement on February 9 (Tuesday), 2021, DCE will adjust the trading margin ratio and the price limits as below
Iron Ore price limit will be 11%, the hedging trading margins will be 11% and the speculation trading margins will remain 12% unchanged (I2105 contract speculation trading margin will remain 15% unchanged);
Corn price limit will be 8%, the hedging trading margins will be 8% and the speculation trading margins will remain 11% unchanged;
Soybean Meal, Soybean Oil and Corn Starch price limit will be 8%, the hedging trading margins will be 8% and the speculation trading margins will be 9%;
the price limits and trading margins of other futures will remain unchanged.
Ø After the holiday
After the trading is resumed on February 18 (Thursday), 2021, from the settlement of the first trading day when the situation that the one-direction non-continuous quotation under the price limit does not occur on the contract with the largest open interests of one product, the price limits and the trading margins will be adjusted as follows:
LLDPE, PP and PVC price limit will be 7%, the hedging trading margins will be 7% and speculation trading margins will be 8%;
Iron Ore, Soybean Meal, Soybean Oil, Corn and Corn Starch price limits and trading margins will be restored to the standards before the adjustment;
the price limits and the trading margins of other futures will remain unchanged.
If the above adjusted price limits and the trading margins are not consistent with the existing ones, the higher one of the two shall prevail.
ZCE
Ø During the holiday
From the settlement on February 9, 2021, ZCE will adjust the trading margin ratio and the price limits as below:
PTA, Polyester Fiber and Methanol trading margin will be 10% and price limit will be 9%.
Peanut Kernel, White Sugar, Cotton, Cotton Yarn, Rapeseed Meal, Rapeseed Oil, Apple, Thermal Coal, Ferroalloy and Silicon Manganese trading margin will be 9% and price limit will be 8%.
Wheat PM, Wheat WH, Early Rice, Late Rice, Japonica Rice, Chinese Jujube, Soda Ash, Glass, and Urea trading margin will be 8% and price limit will be 7%.
Thermal Coal 2103 Contract trading margin shall remain 15%.
Ø Ather the holiday
Trading will be resumed on February 18, 2021. From the settlement of the first trading day on which limit-locked market does not occur on the contract with the largest open interest of such product, margins and price limits of these futures will be restored to standards before the adjustments.
In case the above adjusted margins and price limits vary from the current ones, the higher one will prevail.
SHFE
Ø During the holiday
As from the first trading day without the limit-locked market from February 9, 2021 (Tuesday), SHFE will adjust the trading margin ratio and the price limits as below:
Steel Rebar, Wire Rod, Hot-Rolled Coil, Stainless Steel, Bleached Softwood Kraft Pulp trading margin ratio will be 9%, and the price limit will be 7%.
Copper, Aluminum, Zinc, Lead, Nickel, Tin, Gold trading margin ratio will be 10%, and the price limit will be 8%.
Natural Rubber trading margin ratio will be 12%, and the price limit will be 10%.
Fuel Oil, Bitumen trading margin ratio will be 13%, and the price limit will be 11%.
Silver trading margin ratio will be 14%, and the price limit will be 12%.
In the case that the above adjusted trading margin rate and price limit vary from the current ones, the higher ones will prevail.
Ø After the holiday
After market resume trading on February 18, 2021 (Wednesday), as from the first trading day without the limit-locked market, SHFE will adjust the trading margin ratio and the price limits as below:
Steel Rebar, Wire Rod, Hot-Rolled Coil, Stainless Steel, Bleached Softwood Kraft Pulp trading margin ratio will be 8%, and the price limit will be 6%;.
The trading margin ratio and price limit for all other futures contracts will be resumed to original level.
INE
Ø During the holiday
As from the first trading day without the Limit-locked market from February 9, 2021, INE will adjust the trading margin ratio and the price limits as below:
Bonded Copper trading margin ratio of will be 10% and the price limit will be 8%.
TSR 20 trading margin ratio will be 12% and the price limit will be 10%.
Crude Oil and Low Sulfur Fuel Oil trading margin ratio will be 13% and the price limit will be 11%.
In the case that the above adjusted trading margin rate and price limit vary from the current ones, the higher ones will prevail.
Ø After the holiday
The market will resume trading on February 18, 2021. As from the first trading day without the Limit-locked market, INE will adjust the trading margin ratio and the price limits as below:
Bonded Copper trading margin ratio will be 8% and the price limit will be 6%.
TSR 20, Crude Oil and Low Sulfur Fuel Oil trading margin ratio will be 10% and the price limit will be 8%.
The Adjustment of Trading Margin Rates and the Price Limits of Futures Contracts for the Spring Festival 2021
Exchange | Futures Products | Price Limits (%) | Speculation Trading Margin Rates (%) | ||||
Before | During | After | Before | During | After | ||
INE | Bonded Copper | 6 | 8 | 6 | 8 | 10 | 8 |
TSR 20 | 8 | 10 | 8 | 10 | 12 | 10 | |
Crude Oil | 8 | 11 | 8 | 10 | 13 | 10 | |
Low Sulfur Fuel Oil | 8 | 11 | 8 | 10 | 13 | 10 | |
SHFE | Copper | 6 | 8 | 6 | 8 | 10 | 8 |
Aluminum | 6 | 8 | 6 | 8 | 10 | 8 | |
Zinc | 6 | 8 | 6 | 8 | 10 | 8 | |
Lead | 6 | 8 | 6 | 8 | 10 | 8 | |
Nickel | 6 | 8 | 6 | 8 | 10 | 8 | |
Tin | 6 | 8 | 6 | 8 | 10 | 8 | |
Gold | 6 | 8 | 6 | 8 | 10 | 8 | |
Silver | 10 | 12 | 10 | 12 | 14 | 12 | |
Steel Rebar | 5 | 7 | 6 | 7 | 9 | 8 | |
Wire Rod | 5 | 7 | 6 | 7 | 9 | 8 | |
Hot-rolled Coil | 5 | 7 | 6 | 7 | 9 | 8 | |
Stainless Steel | 5 | 7 | 6 | 7 | 9 | 8 | |
Fuel Oil | 8 | 11 | 8 | 10 | 13 | 10 | |
Bitumen | 8 | 11 | 8 | 10 | 13 | 10 | |
Natural Rubber | 8 | 10 | 8 | 10 | 12 | 10 | |
Bleached Softwood Kraft Pulp | 5 | 7 | 6 | 7 | 9 | 8 | |
ZCE | Methanol | 6 | 9 | 6 | 7 | 10 | 7 |
PTA | 5 | 9 | 5 | 6 | 10 | 6 | |
Polyester Fiber | 6 | 9 | 6 | 7 | 10 | 7 | |
Thermal Coal | 6 | 8 | 6 | 8 | 9 | 8 | |
Ferroalloy | 6 | 8 | 6 | 7 | 9 | 7 | |
Silicon Manganese | 6 | 8 | 6 | 7 | 9 | 7 | |
Rapeseed Oil | 5 | 8 | 5 | 6 | 9 | 6 | |
Rapeseed Meal | 5 | 8 | 5 | 6 | 9 | 6 | |
White Sugar | 6 | 8 | 6 | 7 | 9 | 7 | |
Cotton | 6 | 8 | 6 | 7 | 9 | 7 | |
Cotton Yarn | 6 | 8 | 6 | 7 | 9 | 7 | |
Apple | 6 | 8 | 6 | 8 | 9 | 8 | |
Peanut Kernel | 7 | 8 | 7 | 8 | 9 | 8 | |
Soda Ash | 5 | 7 | 5 | 6 | 8 | 6 | |
Glass | 5 | 7 | 5 | 6 | 8 | 6 | |
Urea | 4 | 7 | 4 | 5 | 8 | 5 | |
Chinese Jujube | 5 | 7 | 5 | 7 | 8 | 7 | |
Japonica Rice | 5 | 7 | 5 | 6 | 8 | 6 | |
Early Rice | 5 | 7 | 5 | 6 | 8 | 6 | |
Late Rice | 5 | 7 | 5 | 6 | 8 | 6 | |
Wheat PM | 5 | 7 | 5 | 6 | 8 | 6 | |
Wheat WH | 5 | 7 | 5 | 7 | 8 | 7 | |
DCE | Iron Ore | 10 | 11 | 10 | 12 | 12 | 12 |
Coke | 10 | 10 | 10 | 11 | 11 | 11 | |
Coking Coal | 10 | 10 | 10 | 11 | 11 | 11 | |
No.1 Soybean | 8 | 8 | 8 | 12 | 12 | 12 | |
No.2 Soybean | 8 | 8 | 8 | 9 | 9 | 9 | |
Soybean Meal | 7 | 8 | 7 | 8 | 9 | 8 | |
Soybean Oil | 7 | 8 | 7 | 8 | 9 | 8 | |
Palm Oil | 8 | 8 | 8 | 10 | 10 | 10 | |
Corn | 7 | 8 | 7 | 11 | 11 | 11 | |
Corn Starch | 6 | 8 | 6 | 7 | 9 | 7 | |
Polished Round-grained Rice | 5 | 5 | 5 | 6 | 6 | 6 | |
Egg | 8 | 8 | 8 | 9 | 9 | 9 | |
Live Hog | 8 | 8 | 8 | 15 | 15 | 15 | |
LLDPE | 9 | 9 | 7 | 11 | 11 | 8 | |
PP | 9 | 9 | 7 | 11 | 11 | 8 | |
PVC | 8 | 8 | 7 | 9 | 9 | 8 | |
Ethylene Glycol | 9 | 9 | 9 | 11 | 11 | 11 | |
Ethenylbenzene | 11 | 11 | 11 | 12 | 12 | 12 | |
LPG | 10 | 10 | 10 | 11 | 11 | 11 | |
Fiberboard | 5 | 5 | 5 | 10 | 10 | 10 | |
Blockboard | 5 | 5 | 5 | 40 | 40 | 40 | |
Comments
Post a Comment