In stock index futures trading, margin is the fund used for settlement and performance guarantee. Investors who participate in stock index futures trading, whether as buyers or sellers, need to pay corresponding deposits according to their positions.
Margin can be divided into two parts: trading margin and settlement reserve. The trading margin is calculated according to a certain proportion of the contract value of the position, which is occupied by the contract and may not be used for other purposes. The part of the futures margin account that exceeds the trading margin is called the settlement reserve, which investors can freely control, and it is also called the available funds.
Extended data:
safety system
The settlement guarantee is the same as the guarantee used to deal with the default risk of settlement members. When a single clearing member breaches the contract, after using up the clearing deposit paid by the defaulting clearing member, it may require the clearing deposits of other members to bear the performance responsibility of the member in proportion. The establishment of the joint guarantee mechanism for clearing members ensures the normal operation of the market under extreme market conditions.
Settlement guarantee is divided into basic guarantee and variable guarantee. The minimum deposit amount that a clearing member must pay to participate in the clearing and delivery business of the exchange. Variable guarantee refers to the part of the guarantee that clearing members must pay to the exchange with the increase of clearing business.
Baidu Encyclopedia-Stock Index Futures Margin System
Baidu encyclopedia-stock index futures