Trading margin refers to the funds occupied by members or customers in their special settlement accounts to ensure the performance of their position contracts.

Settlement reserve refers to the funds prepared by members in advance for trading settlement in the special settlement account of the exchange, which is the deposit not occupied by the contract (called trading deposit if it has been occupied by the contract). The minimum balance of the settlement reserve shall be stipulated by the exchange.

Settlement guarantee refers to the * * * deposit paid by settlement members in accordance with the provisions of the exchange to deal with the default risk of settlement members. The introduction of the * * * margin mechanism of clearing members will provide a considerable amount of * * margin in the initial stage of the operation of the stock index futures market, which can increase the financial resources of the exchange to cope with risks, establish a buffer zone to resolve risks, further enhance the overall anti-risk ability of the exchange and provide a strong guarantee for the smooth operation of the market.

Risk reserve refers to the funds set up by the exchange to maintain the normal operation of the futures market and make up for the losses caused by unforeseeable risks of the exchange.