Securities Times Network News, Zhengshang Institute issued an announcement on matters related to thermal coal futures 22 12 contract on the 7th. According to the announcement, the trading margin standard of thermal coal futures 22 12 contract is 30%, and the price limit is 10%. If the trading margin standard and price limit implemented according to the rules are higher than the above standards, the original provisions shall still be implemented. The transaction fee standard for thermal coal futures 22 12 contract is 120 yuan/lot, and the transaction fee standard for intra-day liquidation is 120 yuan/lot. In addition, the maximum number of positions opened by non-futures company members or customers of thermal coal futures contract 22 12 is 50 lots.

Futures, completely different from spot, are actually tradable goods. Futures are mainly not commodities, but standardized tradable contracts with certain mass products such as cotton, soybeans and oil and financial assets such as stocks and bonds as the subject matter. Therefore, the subject matter can be a commodity or a financial instrument.

Futures market first appeared in Europe. As early as ancient Greece and Rome, there were central trading places, bulk barter transactions, and trading activities with the nature of futures trade. The original futures trading was developed from spot forward trading. The first modern futures exchange 1848 was established in Chicago, USA, and 1865 established a standard contract model. In 1990s, China Modern Futures Exchange came into being. There are four futures exchanges in China: Shanghai Futures Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange and China Financial Futures Exchange. The price changes of its listed futures products have a far-reaching impact on related industries at home and abroad.