As we all know, commodity futures do not need to pay all the funds, but only need to pay a certain percentage of the deposit (generally within 10%), so how to calculate the futures deposit? The following is the approximate amount of futures margin in 2022 compiled by Bian Xiao, hoping to help you.
What is the general futures margin in 2022?
In fact, there is a fixed formula for the calculation of margin, that is, futures margin = transaction price _ transaction unit _ number of transactions _ margin ratio. Among them, marketing unit is usually set before the listing of futures varieties, and it is rarely modified; The margin ratio is the lowest ratio of the exchange. On this basis, futures companies will charge three to five percentage points more, and different futures companies of the same variety may charge different proportions of deposits. The same futures company will also charge different proportions of margin for the same futures product in different months.
Therefore, a variable of futures margin is the margin ratio, but after this variable is determined, it will generally be adjusted before the festival and near the delivery.
In addition, the biggest variable is the transaction price, which changes in real time. The entrusted price we submitted may not have been settled by that point, so the deposit may not be the same as our budget.
For example, if you charge an 8% margin for Apple futures, the margin when you buy and sell at 6444 is 6444 _10 _1_ 8% = 5156 yuan. But if you buy and sell in 6493, the required margin is 6493 _ 65438.
What is the appropriate ratio of futures margin?
Under normal circumstances, when the capital utilization rate is ≥ 100%, the futures company will require the customer to add margin, and reserve the right to forcibly close the position. When the capital utilization rate is greater than or equal to 80%, the futures company will simultaneously include the direction of the customer's net position and the risk change in the monitoring scope. It should be noted that the position occupation margin calculated according to the margin ratio of futures companies and the margin standard of exchanges is different. Under normal circumstances, only when the capital utilization rate calculated according to the exchange margin standard reaches more than 100% will strong leveling be implemented.
In commodity futures, the fluctuation range is generally 4%-5%, the margin standard of exchanges is generally 5%-7%, and the margin standard of futures companies is generally 7%- 12%. Therefore, the margin level charged by a general exchange can withstand 1.4 stop-loss intervals, while the margin level charged by a futures company can generally withstand more than 2 stop-loss intervals. In order to keep pace with the spot market, the price limit of stock index futures reaches 10%, and the margin standard charged by the exchange 10% can only bear a limit.
According to the current market situation, it is predicted that the margin standard for futures companies to collect customers is generally at the level of 15%, and the limit is around 18%. If it exceeds 20%, it will be unattractive to speculative customers. Comparing the two, according to exchange standards, the price limit that commodity futures can bear is 1.4 times that of stock index futures (7%/5% ÷110% =1.4); According to the margin standard of futures companies, the former is 1.6 times of the latter (12%/5% ÷15%/10% =1.6). If calculated simply on average, the ability of commodity futures to withstand ups and downs is 1.5 times that of stock index futures. Therefore, if the capital utilization rate of commodity futures is lower than 50% as the safety critical line, the stock index futures should be around 30%.
For settlement members, we suggest that the capital utilization rate be divided into three grades: below 50%, 50%-80% and above 80%. When the capital utilization rate is less than 50%, if there is a loss in one stop, it will not reach the level of additional margin. In theory, it can withstand more than two stops, and the risk is generally small. When the capital utilization rate is between 50% and 80%, whether the net position of trading members or customers accounts for more than 50% of the total position should be considered comprehensively. For example, if the capital utilization rate is 66.7% and the net position accounts for 50% of the total position, it can just meet the critical point of bearing the loss of stopping the board without additional margin. When the capital utilization rate reaches above 80%, we need to pay enough attention to it regardless of the net position ratio.
What is the margin of styrene futures?
Styrene futures is a kind of futures contract based on styrene. Generally speaking, the higher the demand of the futures market corresponding to the subject matter, the hotter the futures market will be. The surge of styrene futures is actually related to the use of styrene itself and the changes in market demand.
Futures margin = value of futures contract _ margin ratio = latest price of futures contract _ marketing unit _ transaction cost _ margin ratio.
At present, the main contract is styrene 2 103. Assuming that the transaction fee stipulated by the exchange is 5 tons/lot, the current standard margin ratio of the exchange is 20%, and the latest price of the futures contract is 9253 yuan/ton, then the payable margin for opening the first-hand styrene futures is 9253 yuan/ton _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
At present, in addition to the main contract, 2 103 also has the main contract 2 105, and the margin ratio stipulated by the exchange is 12%. It is recommended for investors to trade styrene futures 2 105, and the one-hand margin is quite cheap.