The price limit refers to the situation that a futures contract has a buy (sell) declaration with a stop-loss price, a sell (buy) declaration without a stop-loss price, or a transaction is made as soon as a sell (buy) declaration is made, but the stop-loss price is not set within 5 minutes before the closing of the trading day.

Under the price limit system, the settlement price of the previous trading day plus the maximum allowable increase constitutes the upper limit of the price increase of that day, which is called the daily limit; The settlement price of the previous trading day MINUS the maximum allowable decline constitutes the lower limit of the price decline, which is called the daily limit. Therefore, the price limit is also called the maximum fluctuation limit of daily price. There are two forms of price limit range: percentage and fixed quantity.

The price limit system means that the transaction price of a futures contract cannot be higher or lower than a certain price range on the basis of the contract settlement price of the previous trading day. If the price exceeds this range, it will be considered invalid and cannot be traded.

Under the price limit system, the settlement price of the previous trading day plus the maximum allowable increase constitutes the upper limit of the price increase of that day. Called the daily limit; The settlement price of the previous trading day MINUS the maximum allowable decline constitutes the lower limit of the price decline, which is called the daily limit. Therefore, the price limit is also called the maximum fluctuation limit of daily price. There are two forms of price limit range: percentage and fixed quantity.