Simply put, the declaration fee is the fee charged by the exchange for the information generated by customers when trading futures and options contracts.
What is the amount of information?
(1) In short, the amount of information is the special declaration instruction, withdrawal instruction and inquiry instruction of option trading.
(2) 2) The cancellation of FOK (immediate liquidation or automatic cancellation of orders) and FAK (immediate liquidation of remaining orders and automatic cancellation of orders) are not exempted, and they are both included in the information volume.
For example:
① A customer used the FOK instruction to buy AG22 12 contract 10 lot (first hand), but all contracts were automatically cancelled due to the failure to close the contract. How many times is this message?
A: Twice.
② A customer used FAK instruction to buy AG22 12 contract 10 lots (one hand), sold 3 lots, and did not sell the rest. The system automatically cancels all the remaining 7 batches. How many times is this message?
A: Twice.
③ A customer used the FOK instruction to buy AG22 12 contract 10 lot (first hand) and closed all positions. How many times is this message?
A: 1 time.
(3) The amount of information is calculated independently according to the contract.
For example:
A customer places an order for 20 AG22 12 contracts, each for 1 hand; At the same time, order 100 AG2306 contract, 2 lots for each lot. How to calculate customer information?
Answer: The information in AG22 12 contract is 20 times; AG2306 contract information 100 times.
How to charge the declaration fee?
(1) The charging standard of the declaration fee can be found in official website. The specific address is as follows:
Shanghai Futures Exchange: /jygg/4 1870.jhtml
Shanghai international energy trading center:/jygg/41869.jhtml.
Dalian Commodity Exchange: /jygg/4 1868.jhtml
Zhengzhou Commodity Exchange: /jygg/4 1872.jhtml
(2) There is no charge for the exchange link, but it will be charged at the time of settlement. In case of special circumstances, if the declaration fee cannot be deducted at the time of settlement on the same day, the exchange may deduct it at the time of settlement on the next trading day, and the details will be notified separately.
(3) If the same customer opens an account in different futures companies, the information shall be calculated in a consolidated way, and the declaration fee shall be charged.
How to calculate the declaration fee?
(1) Calculation formula of declaration fee, information amount and declaration transaction ratio:
Declaration fee = σ (the amount of information of customers or non-futures company members in each stall on the contract × the corresponding rate)
Information quantity = the sum of the transaction orders such as declaration, withdrawal and inquiry.
OTR)= (amount of information/number of transactions)-1
Note: If there is information on that day, but there is no transaction, the transaction ratio (OTR) is calculated as > 2.
(2) Look at a specific case:
On the same day, customer B placed 50,000 orders on the CU2209 contract, and 5000 orders were cancelled, of which 5000 orders were sold. How much is the customs declaration fee?
Information quantity = order quantity+withdrawal quantity = 50000+5000 = 55000;
OTR)= amount of information/number of transactions-1= 55000/5000-1=10;
The declaration fee of futures contract = σ (the amount of information of customers or non-futures company members in each stall on the contract × the corresponding rate)
Customs declaration fees payable by customers at settlement:
4000*0+(8000-4000)*0.5+(40000-8000)*2.5+(55000-40000)*50
=0+2000+80000+750000=832000 yuan. (Similar to the calculation method of individual tax)
As can be seen from the above example, customer B charged a handling fee of 832,000 yuan at the time of settlement due to frequent account losses and cancellation. This example also reminds investors not to report the loss and withdraw cash too much during the transaction, so as to avoid account risk caused by huge loss reporting fees during settlement.