Legal basis: Administrative Measures for Risk Control of China Financial Futures Exchange.
Article 4 The exchange shall implement the margin system. Margin is divided into settlement reserve and trading margin.
Article 5 The minimum trading margin standard for stock index futures contracts is 12%. In the process of futures trading, under any of the following circumstances, the exchange may adjust the trading margin standard according to the market risk and report to the China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission):
(1) There is no unilateral continuous quotation in futures trading (hereinafter referred to as unilateral market);
(two) in case of national holidays;
(3) The Exchange considers that the market risk has changed significantly.
(4) Other circumstances deemed necessary by the Exchange.
One-sided market refers to the situation that a contract only has a buy (sell) declaration with a stop-loss price within 5 minutes before the closing, but there is no sell (buy) declaration with a stop-loss price, or a deal is made as soon as a sell (buy) declaration is made, but the stop-loss price does not open a position.
Article 6 Where an exchange adjusts the trading margin standard of a futures contract, it shall settle all positions of the contract in accordance with the adjusted trading margin standard at the time of settlement on the same day.
Article 7 The management of the settlement reserve shall be governed by the relevant provisions of the Settlement Rules of China Financial Futures Exchange.