The minimum trading margin of Shanghai and Shenzhen 300 stock index futures contracts is 12% of the contract value. In the course of trading, when one party of the daily limit board fails to quote continuously, when it is a national legal holiday, or when the exchange deems it necessary, the exchange will adjust the trading margin standard according to the market risk.

2. Price limit system

The price of stock index futures contracts is limited to 10% of the settlement price of the previous trading day, and the price of quarterly and monthly contracts is limited to 20% of the benchmark price on the first day of listing. If there are transactions on the first day of listing, the next trading day will be restored to the price limit stipulated in the contract; If there is no transaction on the first day of listing, the price limit of the previous trading day will continue to be implemented on the next trading day. The rise and fall of stock index futures contracts on the last trading day is limited to 20% of the settlement price of the previous trading day.

3. Position restriction system

The limit of unilateral positions of speculative trading customers is 65,438+000 lots. If the position limit is reached or exceeded, the position shall not be opened in the same direction.

4. Large position reporting system

If a customer's position meets the reporting standards or requirements set by the Exchange, it shall report to the Exchange before the close of the next trading day.

5. Compulsory liquidation system

In any of the following circumstances, the Exchange will forcibly close the position: the balance of settlement reserve is less than zero and has not been replenished before the end of the first section; The position exceeds the position limit standard and fails to close the position before the end of the first quarter; Being punished by the exchange for compulsory liquidation due to violation of regulations and breach of contract; According to the emergency measures of the exchange, the liquidation shall be forced; Other circumstances in which the Exchange requires compulsory liquidation.

6. Forced lighting system

Forced lightening refers to the fact that the trading house declares the open position at the daily limit price, and automatically matches the profitable customers with the net position of the contract according to the position ratio.

7. Settlement guarantee system

Settlement guarantee refers to the * * * deposit paid by settlement members in accordance with the provisions of the exchange to deal with the default risk of settlement members.

8. Risk early warning system

When the Exchange deems it necessary, it may take one or more measures, such as asking members and customers to report the situation, reminding them in conversation, warning them in writing, and issuing a risk warning announcement, to warn and resolve risks independently or simultaneously.