The trading margin system of asphalt futures includes the collection standards of trading margin when the positions of asphalt futures contracts change and the collection standards of trading margin at different stages of listing and operation of petroleum asphalt futures contracts.

Trading margin refers to the funds occupied by the contract in the exchange account to ensure the performance of the contract. The minimum trading margin for asphalt futures contracts is 4% of the contract value.

The exchange sets different trading margin collection standards according to the different positions of a futures contract and the different stages of listing operation. The specific provisions are as follows:

Standard for collecting margin when the position of asphalt futures contract changes.

In the course of trading, when the positions of asphalt futures contracts reach a certain level of total positions, the trading margin collection standard will not be adjusted temporarily. At the time of settlement on the same day, if the positions of asphalt futures contracts reach a certain level of total positions, the Exchange will charge trading margin corresponding to the total positions for all positions of the contracts. If the margin is insufficient, it shall be supplemented before the market opens on the next trading day.

Standard for collecting margin at different stages of listing operation of asphalt futures contracts

In the course of trading, when the positions of asphalt futures contracts reach a certain level of total positions, the trading margin collection standard will not be adjusted temporarily. At the time of settlement on the same day, if the positions of asphalt futures contracts reach a certain level of total positions, the Exchange will charge trading margin corresponding to the total positions for all positions of the contracts. If the margin is insufficient, it shall be supplemented before the market opens on the next trading day.

After entering the delivery month, the seller can use the standard warehouse receipt as the performance guarantee for the futures contract positions with the same number as shown in the delivery month, and do not charge the trading margin corresponding to the positions.