(1) Margin system The minimum trading margin of an egg futures contract is 5% of the contract value. The margin for newly opened positions shall be collected as the trading margin at the time of settlement on the previous trading day. The trading margin shall be managed at different levels. As the delivery period of futures contracts approaches and the amount of positions increases, the Exchange will gradually increase the proportion of trading margin.
Table 4.1: Trading Margin Collection Standards for Egg Futures Contracts Near the Delivery Period
Transaction period |
Transaction margin ratio |
The tenth trading day of the month before the delivery month |
10% of contract value |
The first trading day of the delivery month |
20% of contract value |
Table 4.2: Margin collection standard when the position of egg futures contract changes
Bilateral position in contract month (N) |
Transaction margin ratio |
N ≤ 80000 hands |
5% of contract value |
N> 80000 hands |
7% of contract value |
(2) Price limit system The price limit of the egg contract is 4% of the settlement price of the previous trading day, and the price limit of the delivery month is 6% of the settlement price of the previous trading day.
(3) The position limitation system refers to the maximum amount of a certain contractual speculative position that members or clients can hold according to the provisions of the Exchange and calculated unilaterally. The same customer has opened multiple transaction codes at different futures company members, and the total of all positions on each transaction code shall not exceed the position limit of one customer.
Table 4.3: Position limit of egg futures in different periods
|
Members of futures companies |
Non members of futures companies |
customer |
Unilateral position |
≥ 15000 hands |
|
|
Limited warehouse unit Transaction period
|
% |
hand |
hand |
Contract general month |
25%×N |
three hundred |
three hundred |
From the first trading day of the month before the delivery month |
one hundred |
one hundred |
From the tenth trading day of the month before the delivery month |
thirty |
thirty |
Delivery month |
five |
five |
Note: N is the position limit coefficient of members of futures companies.
The Exchange may adjust the proportion of its position limit according to the relevant conditions of the members of futures companies, and the measures will be announced separately.