Fuel oil futures refer to trading varieties with fuel oil as the subject matter of futures. The correlation between the spot price of fuel oil in China and the futures price of fuel oil in the international market is above 90%. In view of the close relationship between Shanghai copper price and London copper price, it is expected that Shanghai fuel oil futures will be linked to new york crude oil futures and 180CST fuel oil futures of Singapore Futures Exchange as soon as they are listed, and the correlation will not be less than 90%.
The first batch of new fuel oil contracts put on hold this time is seven months in 2005 (1, March, April, May, June, July and August). There is a problem of selectivity to contract objects and trading strategies. In view of the high risk in the fuel oil futures market, the above work is more important for small and medium-sized retail investors.
Extended data:
1, hedging transaction
To apply for hedging transactions, it is necessary to fill in the "Shanghai Futures Exchange Hedging Application (Approval) Form" uniformly formulated by the Exchange, and submit relevant certification materials consistent with the varieties, positions, trading volume and hedging time of the hedging transactions applied for. The application for fuel oil hedging position must be made before the last trading day of the second month before the delivery month of the hedging contract.
Step 2 solve
Settlement refers to the business activities of calculating and distributing members' trading margin, profits and losses, handling fees, settlement funds and other related funds according to the trading results and relevant regulations of the exchange. In the international fuel oil transaction, the way and method of settlement are very important, especially the change of exchange rate on the settlement date. Under normal circumstances, domestic enterprises also settle at forward exchange rates.
3. Trading rules
Limited positions refer to the maximum number of speculative positions that a member or customer can hold in a contract according to the regulations of the exchange. The proportion and position limit of various futures contracts of brokerage members, non-brokerage members and investors in different periods are as follows:
Provisions on the proportion and position limit of fuel oil futures contracts in different periods (unit: hand) The contract is listed to the last trading day of the third month, the second month and the first month before the delivery month.
The proportion of the position limit of a futures contract (%) is 3.5 million lots of fuel oil for brokerage members, non-brokerage members, investors, brokerage members, non-brokerage members and investors, and the position limit of brokerage members, non-brokerage members and investors is calculated in one direction; The position limit of brokerage members is the base.
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