What are the trading rules of soybean oil futures?

What are the trading rules of soybean oil futures? Let's introduce it.

(1) Margin system
The minimum trading margin of soybean oil futures contract is 5% of the contract value. The margin of the exchange shall be managed by different levels. With the approaching of the delivery date of futures contracts and the increase of positions, the exchange will gradually increase the trading margin. When the soybean oil contract rises (falls) continuously, the exchange will appropriately increase the trading margin.
1. Collection standard of trading margin for soybean oil contract near delivery date
Trading margin during trading period (yuan / hand)
10% of the contract value on the first trading day of the month before the delivery month
15% of the contract value on the sixth trading day of the month before the delivery month
20% of the contract value on the 11th trading day of the month before the delivery month
25% of the contract value on the 16th trading day of the month before the delivery month
30% of the contract value on the first trading day of the delivery month
2. Collection standard of trading margin when soybean oil contract position changes
Total bilateral positions in contract month (n) trading margin (yuan / hand)
N ≤ 5% of the contract value of 400000 hands
400000 hands
500000 hands
600000 hands
3. When the soybean oil contract fails to quote continuously on a certain trading day (the trading journal is the nth trading day), the trading margin of the futures contract will be charged at 6% of the contract value (if the original trading margin ratio is higher than 6%, the original ratio will be charged). If there is no one-sided continuous quotation on the N + 1 trading day in the same direction as the nth trading day, the trading margin of the soybean oil contract shall be charged at 7% of the contract value from the settlement of the N + 1 trading day (if the original trading margin ratio is higher than 7%, the original proportion shall be charged). If there is no unilateral continuous quotation of a futures contract in the same direction as that of the previous trading day, the trading margin will return to the normal level at the settlement of the trading day.
(2) Price limit system
The exchange shall implement the price limit system, and the exchange shall determine the maximum daily price fluctuation range of each futures contract. The exchange may adjust the price limit of each contract according to market conditions.
For the months before the delivery month of soybean oil contract, the limit range of rise and fall is 4% of the settlement price of the previous trading day, and the range of up and down limit of delivery month is 6% of the settlement price of the previous trading day.
The price limit of the new listed contract is twice that of the general month. If the contract is concluded, it will be restored to the limit range of the general month on the next trading day; if the contract is not concluded, the price limit of the previous trading day will continue to be implemented on the next trading day.
When the trading day n + 2 of a contract has no unilateral continuous quotation in the same direction as that on the N + 1 trading day, the exchange will take one or more of the following risk control measures according to the market situation after the market close on the N + 2 trading day: suspending trading, adjusting the range of the up and down limit, unilateral or bilateral, the same proportion or different proportion, some or all members' withdrawal High trading margin, suspending some or all members to open new positions, limiting the withdrawal of funds, closing positions within a time limit, compulsory closing positions, compulsory reduction of positions or other risk control measures.
(3) Warehouse restriction system
The stock exchange shall implement a system of limited positions. Limit position refers to the maximum amount of speculative position of a certain contract that members or clients can hold according to unilateral calculation.
When the unilateral position of soybean oil contract in a general month is more than 100000 hands, the contract position limit of brokerage member shall not be greater than 20% of unilateral position; the contract position limit of non brokerage member shall not be greater than 10% of unilateral position; the contract position limit of client shall not be greater than 5% of unilateral position.
When the unilateral position of soybean oil in general monthly contract is less than or equal to 100000, the contract position limit of brokerage member is 20000, that of non brokerage member is 10000, and that of client is 5000. The position limit of soybean oil contract one month before and during the delivery month is as follows:
Unit: hand
Broker member non broker member client during trading period
800040002000 from the first trading day of the month before the delivery month
400020001000 from the 10th trading day of the month before the delivery month
Delivery month: 20001000500
The hedging position is subject to examination and approval system, and its position is not limited.
        

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