The threshold for individual customers to participate in the transaction is 500,000 yuan, and the threshold for institutional customers to participate in the transaction is 6,543,800 yuan. The trading unit of crude oil futures is 1 1,000 barrels/barrel, the minimum price change is 0. 1 yuan (RMB)/barrel, the price limit does not exceed 4% of the settlement price of the previous trading day, and the contract delivery month is the last month of consecutive1-2 months and the next eight quarters. The minimum trading margin is 5% of the contract value.
Trading hours of domestic crude oil futures: 09:00- 15:00 in the daytime. The evening trading time is 2 1:00-02:30. The night trading time of crude oil futures is the beginning of the next trading day. That is to say, for example, today is Wednesday. The night trading time on Wednesday night is the beginning of the trading day on Thursday. So a complete trading day starts at midnight and ends at 3 o'clock the next day.
Crude oil futures, referred to as OilFut, are the most important oil futures. OilFut is the abbreviation of "OILFutures". There are four important crude oil futures contracts in the world: the New York Mercantile Exchange light and low sulfur crude oil, namely "West Texas Intermediate" futures contract; High sulfur crude oil futures contract of Dubai Mercantile Exchange; London International Petroleum Exchange (ICE) Brent crude oil futures contract; Singapore Exchange (SGX) Dubai sour crude oil futures contract.
2065438+On March 26th, 2008, crude oil futures were officially listed and traded in Shanghai International Energy Trading Center of Shanghai Futures Exchange.
Oil futures are futures with forward oil prices as the subject matter, and they are a trading variety in futures trading. Standardized contracts based on crude oil shall be formulated by futures exchanges. Example: NYMEX launched the light and low sulfur crude oil futures contract at 1983.
IPE launched Brent crude oil futures contract, one of the three international benchmark crude oils, on June 23rd, 1988.
Singapore Exchange (SGX) officially launched Dubai oil futures contract in the Middle East on June 2nd, 2002.
The oil crisis in the early 1970s brought a huge impact on the world oil market, and the sharp fluctuation of oil prices directly led to the emergence of oil futures. After the birth of oil futures, its trading volume has been growing rapidly, surpassing metal futures, and it is an important part of the international futures market.
Among oil futures contracts, oil futures is the most traded variety. There are three kinds of crude oil futures contracts with the largest trading volume and the widest influence in the world: WTI (West Texas Intermediate) futures contract for light and low sulfur crude oil in the New York Mercantile Exchange, Brent (Brent crude oil in the North Sea) futures contract for London International Petroleum Exchange (IPE) and Dubai (Dubai crude oil) futures contract for Singapore International Financial Exchange (NYMEX).