Q & A of gold TD trading rules, do you know all this knowledge?
What is the contract size of gold TD? When is the trading time of gold TD? Do you know all the gold TD investment knowledge? It's not clear. Let's have a look.
1. What is the size of Au (T + D) contract?
Transaction code: Au (T + D)
Trading variety: au99.95 (No.2 gold) 10% margin trading
Unit: 1000g / hand
Quotation unit: RMB / 1g
Minimum change price: 0.01 yuan / 1g
Maximum daily price fluctuation limit: no more than ± 10% of the closing price of the previous trading day
Trading hours: 09:00-11:30 a.m., 1:30-3:30 p.m., 9:00 p.m. - 2:30 a.m. the next day.
Pick up application date: any trading day
Delivery date: the date of application
2. How much margin does Au (T + D) charge?
At present, the margin level charged by the Au (T + D) exchange is 10% of the transaction weight (this is the minimum standard, and the exchange has the right to make necessary adjustments according to the market risk situation). According to the current Au (T + D) price of 190 RMB / g, the minimum deposit of 19000 RMB is required for the first-hand Au (T + D) contract transaction. Such threshold setting fully takes into account the general risk tolerance of domestic investors, aiming to develop a good market with tolerance. The trading margin paid by investors to the agency will float on the basis specified by the exchange.
3. Is there a price limit in the contract?
The price limit of Au (T + D) is plus or minus 7% of the settlement price of the previous trading day.
4. Daily opening price. How is the closing price determined?
The opening price of each transaction is the first transaction price after the opening, and the closing price is the weighted average of the last five transaction prices.
5. How is the daily settlement determined?
Day settlement price refers to the weighted average price of the last hour trading volume of a futures contract. If there is no transaction in the last hour and the price is on the up / down limit, the closing price shall be taken as the settlement price of the day. If there is no transaction in the last hour and the price is not on the up / down limit, the weighted average trading volume of the previous hour shall be taken. If there is still no transaction in this period, it will be pushed forward for another hour, and so on. If the trading time is less than one hour, the weighted average trading volume of the whole period shall be taken.
6. How to determine the final settlement price? Why not use the closing price?
The final settlement price is the arithmetic average price of all index points in the last two hours of the spot index on the last trading day. In the international market, some contracts use the closing price of spot index as the final settlement price. However, the closing price of spot index is easy to be manipulated, so in order to prevent manipulation, most futures contracts in the international market adopt the average price over a period of time.
7. What is the minimum unit of variation of a contract?
The minimum change unit of Au (T + D) refers to the least significant digit after the decimal point allowed to be quoted in the contract quotation. The minimum unit of change of Au (T + D) is 0.01g, and the minimum price change is equivalent to the contract value change of 10 yuan based on 190.01 yuan / g.
8. What is the last trading day of the contract?
Au (T + D), the spot T + D transaction of Shanghai gold exchange, refers to the transaction by installment. Traders can choose to deliver the contract on the same day or postpone the delivery, so Au (T + D) has no final trading day.
9. Is the daily trading time of Au (T + D) the same as that of stocks?
The daily opening time of Au (T + D) is 21:00 p.m. - 02:30 the next day, the morning trading time is 09:00-11:30, the stock trading time is 9:30-11:30, the afternoon trading time of Au (T + D) is 13:30-15:30, and the afternoon trading time of stock is 13:00-15:00.