It is understood that ethylene glycol futures are listed on 20 18 12. As the first liquid chemical product of Dashang Company, Dashang Company designed a special position limit and margin regulation at the initial stage of listing of ethylene glycol futures based on the starting point of preventing potential delivery risks and ensuring the smooth operation of listing: if an ethylene glycol contract unilaterally holds 1.2 million lots on any trading day from the first trading day to the fourteenth trading day one month before delivery, the position limit of the contract will be10. When the ethylene glycol contract unilaterally holds 80,000 lots on any trading day from 15 trading day one month before the delivery month to the last trading day of the month, the contract position limit will be reduced from 3,000 lots to 1000 lots from the settlement date, and the trading margin standard will be raised to 20%.
According to relevant market participants, Dashang Institute implemented strict risk control measures in the initial stage of listing of ethylene glycol futures, which ensured the smooth listing and operation of ethylene glycol futures, smooth and orderly delivery business and no delivery risk. In recent years, the ethylene glycol market environment has changed obviously, and the futures market is more mature. On the one hand, DCC continues to expand delivery warehouses, and the number of designated warehouses for ethylene glycol futures has increased to 15, and the agreed storage capacity has increased to 1.26 million tons; Five warehouses were designated, and the maximum warehouse receipt volume increased to 210.5 million tons, and the delivery capacity was greatly improved compared with the initial stage of listing. On the other hand, with the continuous use of new domestic production capacity, the self-sufficiency rate in the domestic market is constantly improving, the spot inventory of ethylene glycol is generally increasing, and the resources available for delivery are more abundant. In this context, relevant market participants call for adjusting and optimizing relevant special risk control measures on the basis of maintaining strict risk control, so as to facilitate all parties to participate in ethylene glycol futures trading.
According to the announcement, this revision involves the relevant rules of margin and warehouse limit in the Measures for Risk Management of Dalian Commodity Exchange. As for the deposit, Article 7 of the original Risk Management Measures of Dalian Commodity Exchange was deleted, stipulating that the ethylene glycol contract deposit can be adjusted according to the changes of contract positions in different time periods. After the modification, the trading margin of ethylene glycol futures one month before the delivery month will not be automatically adjusted with the change of contract positions, which is consistent with other varieties of Dashang, that is, from the 15 trading day one month before the delivery month, the trading margin standard is10% of the contract value; From the first trading day of delivery in June, the trading margin standard is 20% of the contract value. At the same time, according to Article 6 of the Risk Management Measures of Dalian Commodity Exchange, the exchange can still raise the trading margin standard according to the increase of contract positions, which is applicable to all futures products of the exchange to prevent and resolve potential delivery risks.
Regarding the position limit, after the special provision that the position limit of one month before the delivery month is not automatically adjusted with the change of the contract position is cancelled, the position limit method of ethylene glycol is the same as that of other chemical futures of Dashang. The adjusted ethylene glycol position limit system is divided into three periods: from the listing of the contract to the14th trading day in the month before delivery, when the contract position is less than or equal to 80,000 lots, the position limit standard is 8,000 lots, and when the contract position is more than 80,000 lots, the position limit standard is10% of the unilateral position of the contract; From the15th trading day to the last trading day one month before the delivery month.
Related questions and answers: How many tons of ethylene glycol 1 are there in Huaxi Small Commodity Market, and how many tons of ethylene glycol 1 are there in Huaxi Small Commodity Market?
Answer: 1 hand is 10 ton!