1. The handling fee for lead futures trading is set at about 2000 yuan (excluding stamp duty and other expenses).

2. Lead futures delivery fee (individual speculators will not deliver without this fee)

Lead futures accounts must meet the following conditions:

1, and the amount of funds in the futures account is not less than 65438+ ten thousand yuan. (The spot price of lead is about 65,438+7,000 yuan, the original contract is 25 tons, the value is about 450,000 yuan, the deposit is about 15%, and the original deposit is about 70,000 yuan).

2. Companies or people who have experience in futures trading and have a certain understanding of futures.

3. It has no bad credit record and has passed the investor suitability review and evaluation (please call or check online for details).

Lead futures account materials:

Individual investors' futures account stock index needs materials: necessary materials, account holder's ID card and bank card (CCB) optional materials.

If you want to remain profitable in lead futures trading, the basis of insurance is to avoid suspicion. In practice, experienced investors and traders believe that understanding the rules of the whole set of trading in the lead futures market and even the futures market, avoiding or minimizing mistakes, can reduce the losses in this leveraged trading and increase the possibility of expected annualized expected returns.

Lead futures trading rules

I. Risk control of lead futures trading in the previous period

1, margin system The minimum trading margin for lead futures contracts is 8% of the contract value. According to the change of positions and the different stages of listing operation, the trading margin collection standards are as follows: the trading margin collection standards when the positions of lead futures contracts change.

Note: X represents the total bilateral positions of a contract in a month, unit: hand, source: Shanghai Futures Exchange.

Standard for collecting trading margin at different stages of listing and operation of lead futures contracts

Source: Shanghai Futures Exchange.

2. Warehouse Limit The members of lead futures companies shall implement proportional warehouse limit, and the members of non-futures companies and customers shall implement quantitative warehouse limit.

Provisions on the proportion of futures contracts and position limits in different periods (unit: hand)

Note: the position of a futures contract in the table is calculated in two directions, and the position limits of futures company members, non-futures companies and customers are calculated in one direction; The position limit of futures company members is the base; Source: Shanghai Futures Exchange.

Second, the early lead delivery system.

1, delivery standard quality indicators

(1) Delivery unit

The trading unit of lead standard contract is 25 tons per lot and the delivery unit is 25 tons per warehouse receipt. Delivery must be an integer multiple of each warehouse receipt.

(2) Quality regulations

1) The lead ingots used for physical delivery in this contract must meet the national standard GB/T 469-2005 Pb99.994, in which the lead content is not less than 99.994%.

2) Appearance and block weight. The lead delivered should be ingots, and the weight of domestic lead per ingot is 48kg 3kg, 42kg 2kg, 40kg 2kg and 24kg 1kg.

3) The overflow of each warehouse receipt shall not exceed 2%, and the increase or decrease clause shall not exceed 0. 1%.

4) The lead ingots of each delivery unit must be composed of commodities produced by the same production enterprise, with the same brand, the same registered trademark, the same quality grade, the same shape and the same packaging quantity (approximate bundle weight). Registered production enterprises choose to bundle registered products by themselves, but it is beneficial to assembly. Each bundle of packaging should be bound with packaging tape with corresponding strength and not easy to rust. Specific requirements shall be announced separately by the Exchange. Binding should be firm and marked with eye-catching product identification, indicating the manufacturer's name, product name, brand, batch number, net weight and production date. In case of packaging damage and bulk goods, the goods delivered to the warehouse should be reassembled and bundled with the specified packaging belt before delivery. The packing expenses shall be borne by the owner.

5) The lead ingot of each warehouse receipt must be a registered brand recognized by the Exchange and must be accompanied by a quality certificate.

(6) The warehouse receipt shall be issued by the delivery warehouse designated by this Exchange after passing the inspection as required.

(3) Production enterprises and registered brands recognized by the Exchange.

Lead ingots used for physical delivery must be brands registered by the exchange. The specific registered brands and premium standards shall be separately stipulated and published by the Exchange.

(4) Designated delivery warehouse

Designated by the exchange and announced separately, the premium standard for warehouses delivered in different places shall be stipulated and announced by the exchange. Lead ingots used for lead futures delivery must be stored in indoor warehouses.

2. Lead delivery method

After the last trading day of the contract, all holders of open contracts shall perform the contract in the form of physical delivery. The physical delivery of customers shall be handled by members and conducted on the exchange in the name of members.

Customers who cannot deliver or receive special VAT invoices are not allowed to deliver.

After the closing of the third trading day of the last transaction of the futures contract, the futures contract position of the natural person customer is 0 lots. From the second trading day of the last transaction, the positions of natural person customers in the delivery month shall be closed directly by the exchange.

Physical delivery shall be completed within the delivery period stipulated in the contract. Delivery period refers to five consecutive working days after the last trading day of the contract. These five delivery days are called the first, second, third, fourth and fifth delivery days respectively, and the fifth delivery day is the final delivery day. The delivery procedure is as follows:

(1) First delivery date

1) The Buyer declares its intention. Within the first delivery date, the buyer submits a letter of intent for the required goods to the exchange. The contents include variety, brand, quantity and the name of the designated delivery warehouse.

2) The seller shall submit the standard warehouse receipt. The seller shall, within the first delivery date, submit a valid standard warehouse receipt that has paid the storage fee to the exchange through the standard warehouse receipt management system.

(2) the second delivery date

Exchange allocates standard warehouse receipts. On the second delivery day, the exchange will issue the standard warehouse receipt to the buyer according to the existing resources and the principle of "time first, quantity rounding, nearest matching and overall arrangement".

For the standard warehouse receipt that cannot be used for the delivery of the next futures contract, the exchange will distribute it to the buyer according to the proportion of the total delivery in the current month.

(3) the third delivery date

1) Buyer's payment and receipt. The buyer shall deliver the payment to the exchange and obtain the standard warehouse receipt before the third delivery date 14: 00.

2) The seller collects the money. The exchange shall pay the payment to the seller before the third delivery date 16: 00. In case of special circumstances, the exchange may extend the payment time of delivery payment.

(4) Delivery on the fourth and fifth days

The seller pays the special invoice for VAT.

If the standard warehouse receipt is delivered in kind in the trading house, its circulation procedure is as follows:

1) The seller's customer authorizes the standard warehouse receipt to handle the physical delivery business for the members of the seller's futures company;

2) Seller members submit standard warehouse receipts to the Exchange;

3) The Exchange distributes the standard warehouse receipt to the buyer members;

4) The members of the buyer's futures company issue standard warehouse receipts to the buyer's customers.

After the physical delivery is completed, if the buyer disagrees with the quality and quantity of the delivered goods, he shall submit a written application to the Exchange before 15 of the next month of the physical delivery month (including the day, which will be postponed to the first working day after the holiday in case of legal holidays), and shall also provide the quality appraisal conclusion issued by the quality supervision and inspection institutions designated by the Exchange (the list of quality supervision and inspection institutions designated by the Exchange will be announced separately by the Exchange). If the application is not filed within the time limit, it shall be deemed that the buyer has no objection to the delivered goods, and the Exchange will no longer accept applications that have objections to the delivered goods.

If the buyer needs to reuse the delivered goods for future delivery, he shall go through the relevant formalities again according to the regulations.

The consignor shall apply for warehousing declaration (delivery forecast) before delivering the goods to the designated delivery warehouse. The contents of warehousing declaration include variety, grade (brand), trademark, quantity, delivery unit, name of designated delivery warehouse, etc. , and provide various documents, etc. The customer shall entrust a member of the futures company to handle the delivery forecast (warehousing declaration) procedures.

When the storage capacity allows, the Exchange will decide whether to approve the storage within 3 trading days, taking into account the wishes of the client. The owner shall deliver the goods to the delivery warehouse specified in the approved warehousing declaration within the validity period stipulated by the exchange. Goods that are put into storage without the approval of the Exchange or are not put into storage within the prescribed period of validity shall not be used for delivery.

After the goods arrive at the designated delivery warehouse, the designated delivery warehouse shall check the arrival situation and relevant documents in accordance with the relevant regulations of the Exchange. After acceptance, the designated delivery warehouse shall input the warehousing acceptance results into the standard warehouse receipt management system. A member submits an application for making a standard warehouse receipt to the Exchange, and the standard warehouse receipt can be issued only after it is approved by the Exchange. When the goods arrive at the warehouse for acceptance, the owner shall go to the designated delivery warehouse for inspection; If the consignor fails to inspect the goods in the warehouse, it shall be deemed that the consignor agrees to designate the delivery warehouse for inspection.

When the legal holder of the standard warehouse receipt picks up the goods, the designated warehouse should pick up the goods after checking the standard warehouse receipt. The owner can pick up the goods at the warehouse by himself or entrust the designated warehouse to pick up the goods on his behalf, but when entrusting the designated warehouse to pick up the goods on his behalf, the owner shall go to the warehouse to supervise the delivery. If the owner does not come to the warehouse to supervise the delivery, it will be deemed that the delivery is correct from the designated delivery warehouse.

When the goods are delivered from the designated delivery warehouse, the Standard Warehouse Receipt Delivery Confirmation Form (in duplicate, one for the owner and one for the designated delivery warehouse) shall be filled out in time, and the corresponding standard warehouse receipt shall be stamped with the special arrival seal, paired with the warehouse and properly kept for future reference.

3. Distribution of lead delivery locations