1. refers to the trading activities of investors buying and selling an aluminum futures contract on the futures exchange. The transaction price of a futures contract refers to the value-added tax price of the delivery standard of the futures contract delivered in the benchmark delivery warehouse. In order to safeguard the legitimate rights and interests of all parties to the transaction and ensure the normal conduct of futures trading, aluminum futures trading implements a margin system, a price limit system, a position limit system, a large household reporting system, a forced liquidation system and a risk warning system.

Second, the deposit system.

When the buyer and the seller make a deal, the exchange collects the trading deposit according to a certain proportion of the contract value of the position. The futures contract stipulates the minimum standard for collecting aluminum trading margin. According to the different stages of a futures contract listing operation and the different positions (that is, the new listing date to the last trading day of the contract), the exchange sets different trading margin collection standards, which are subject to the latest notice of the Shanghai Futures Exchange.

In the course of trading, when the positions of futures contracts reach a certain level of total positions, the exchange will not adjust the trading margin collection standard for the time being. At the time of settlement on the same day, the position of the futures contract reaches a certain level of the total position, and the exchange will charge the trading margin corresponding to the total position for all positions of the contract. If the margin is insufficient, it shall be added before the market opens on the next trading day.

When the aluminum futures contract price closes, the contract margin should be increased accordingly at the time of settlement. According to the provisions of the Measures for the Administration of Risk Control of Shanghai Futures Exchange. The trading margin charged by brokerage members to customers shall not be lower than the trading margin charged by the exchange to members.

Third, the warehouse limit.

Limited position refers to the maximum number of speculative positions that a member or customer can hold in a contract calculated bilaterally or unilaterally according to the regulations of the exchange. Aluminum futures adopt a combination of restricting members' positions and restricting customers' positions. At different stages of the trading process, different positions are applied to contracts in a certain month, and the contract positions entering the delivery month are strictly controlled.