What are the trading rules of CSI 1000 stock index futures?
I. Mode of transaction
CSI 1000 stock index futures adopt call auction and continuous bidding. Call auction time is 9:25-9:30 every trading day, in which 9:25-9:29 is the time for instruction declaration and 9:29-9:30 is the time for instruction matching. The continuous bidding time is 9:30- 1 1:30 (first quarter) and 13:00- 15:00 (second quarter) on each trading day.
Two. Transaction settlement
The settlement price of 1. CSI 1000 stock index futures is the weighted average price of the transaction price at the end of the contract 1 hour. The calculation result is retained to one decimal place.
2. CSI 1000 stock index futures take the settlement price of the day as the basis for calculating the profit and loss of the day. The specific calculation formula is as follows:
Profit and loss of the day = {∑ [(selling price-settlement price of the day) × selling quantity]+∑ [(settlement price of the day-buying price )× buying quantity]+(settlement price of the previous trading day-settlement price of the day) × (selling position of the previous trading day-buying position of the previous trading day) }× contract multiplier.
3. The handling fee standard for CSI 1000 stock index futures shall be stipulated separately by the Exchange.
4. The settlement price of CSI 1000 stock index futures is the arithmetic average price of the last two hours of the last trading day of the underlying index. The calculation result is retained to two decimal places.
5. Cash delivery of CSI 1000 stock index futures.
6. The handling fee standard of CSI 1000 stock index futures is one ten thousandth of the delivery amount.
Three. risk management
1. The maximum daily price fluctuation limit refers to the daily price fluctuation limit, which is 10% of the settlement price of the previous trading day. The increase or decrease of the contract on the last trading day of the expiration month is limited to 20% of the settlement price of the previous trading day. The ownership of the transaction adjusts the scope of the price limit according to the market risk.
2. CSI 1000 stock index futures implement the position limit system, and the unilateral position limit of a customer contract is 1200 lots; If the total unilateral position of a contract exceeds 6,543,800 lots after settlement, the unilateral position of the settlement member in the next trading day shall not exceed 25% of the total unilateral position of the contract. Hedging and arbitrage positions shall be implemented in accordance with the relevant provisions of the exchange.
Finally, I want to remind everyone that the trading risk of stock index futures is relatively high, so we should be cautious in investment. That's all. I hope it helps you.