1. The trading unit is set to 10 ton/lot.
The trading unit of corn starch futures set by Dashang Institute is 10 ton/hand. First, it is consistent with corn futures, which is beneficial for investors to arbitrage between the two varieties; Second, the average scale of consumer enterprises in corn starch industry is small, which is suitable for the characteristics of spot market and convenient for SME customers to participate; Thirdly, considering the contract scale, the average ex-factory price of corn starch in the first half of 20 14 is 2,800 yuan/ton, and the margin ratio is 10%. The futures trading margin of each lot of corn starch is about 2,800 yuan, which is moderate in scale.
Second, the quotation unit and the lowest price change
Referring to the trading habit that almost all quotations in the spot market of corn starch are RMB/ton, the quotation unit of corn starch futures is RMB/ton. According to the average ex-factory price of corn starch in the first half of 20 14, the lowest 1 yuan/ton fluctuates 1 12 times within a price limit, which is relatively mild. At the same time, the minimum variable price setting is the same as the corn futures setting, which is convenient for investors to arbitrage between the two varieties at the same time.
Three. The price limit before the delivery month is set at 4% of the settlement price of the previous trading day, and the minimum contract margin is set at 5%.
The daily limit of corn starch futures is set at 4%, which can cover most of the daily fluctuation range of corn starch. The minimum contract deposit is set at 5%, which can cover the risk of the first price limit. In addition, the daily limit for the delivery month is set at 6%.
Four. Contract months are set to 1, 3, 5, 7, 9, 1 1.
Corn starch is an important corn processing product, and its output and supply are mainly affected by the production capacity and the supply of raw corn. In order to facilitate arbitrage trading with corn futures, the contract month is determined as odd month.
5. The transaction fee is charged at a fixed amount per lot, initially set at 1.5 yuan/lot at the initial stage of listing, and the opening and closing of positions on the same day will be halved.
The transaction cost of corn starch is charged according to a fixed amount per lot, which is consistent with corn futures, which is convenient for investors to calculate the transaction cost. The handling fee for corn starch is set at 1.5 yuan/lot at the initial stage of listing, and it will be charged by half when the warehouse is opened and closed on the same day, and it will be charged at 0.75 yuan/lot. (one of the basic knowledge of corn starch futures)
Corn starch futures contract of Dalian Commodity Exchange
Trade variety corn starch
Trading unit 10 ton/lot
Quotation digits (RMB)/ton
The minimum price change is 1 yuan/ton.
4% of the settlement price of the previous trading day.
The contract months are 1, 3, 5, 7, 9, 1 1.
Trading hours are from 9: 00 a.m. to 1 1: 30 a.m. and from 13: 30 p.m. to 15: 00 p.m. every Monday to Friday, and other times announced by the exchange.
The last trading day is the 10 trading day of the contract month.
The third trading day after the last trading day.
Quality standard for delivery of corn starch in Dalian Commodity Exchange
Delivery place Dalian Commodity Exchange corn starch designated delivery warehouse
5% of the minimum trading margin contract value
Delivery method physical delivery
Transaction code CS
Listed exchange Dalian commodity exchange