The risk management system of coking coal futures generally includes two categories, namely, margin system and position limit system. (1) Margin system The minimum trading margin for coking coal futures contracts is 5% of the contract value. The margin of the exchange is managed at different levels. With the approach of the delivery date of futures contracts and the increase of positions, the exchange will gradually increase the proportion of trading margin. (II) Position limit system The position limit system refers to the maximum amount of speculative positions in a unilaterally calculated contract that members or customers can hold as stipulated by the Exchange.