1. If you have multiple orders, then:
If the closing price is higher than the settlement price, the profit after settlement is less than the maximum profit seen before closing; If the closing price is lower than the settlement price, the profit after settlement will be more than the profit seen before closing.
2, then if the holding is empty, then
If the closing price is higher than the settlement price, the profit after settlement will be more than the profit seen before closing; If the closing price is lower than the settlement price, the profit after settlement is less than the profit seen before closing.
The principle of the debt-free settlement system of the day is that after the end of the day's trading, the exchange will settle all the contract profits and losses, trading deposits, handling fees, taxes and other expenses for the settlement members according to the settlement price of the day, and implement the net transfer of accounts receivable and payable, and increase or decrease the settlement reserve accordingly.
The principle of the debt-free settlement system of the day is that after the end of the day's trading, the exchange will settle all the contract profits and losses, trading deposits, handling fees, taxes and other expenses for the settlement members according to the settlement price of the day, and implement the net transfer of accounts receivable and payable, and increase or decrease the settlement reserve accordingly.
Extended data:
The situation in China
At present, the daily settlement price of commodity futures in China is the weighted average price according to the daily transaction price and trading volume of futures contracts. If there is no transaction price on that day, the settlement price of the previous trading day shall be the settlement price of that day. The settlement price of stock index futures delivery is the arithmetic average price of the last two hours of the underlying index on the previous trading day.
The settlement price of Shanghai and Shenzhen 300 simulated stock index futures on the same day refers to the weighted average price of the transaction price in the last hour of a futures contract according to the volume.
If there is no transaction in the last hour of the contract, the weighted average price of the transaction price in the previous hour is the settlement price of the day. If there is still no deal during this period, push it forward for another hour. And so on. If the last transaction on the day of the contract is less than one hour away from the opening time, the weighted average price of the whole day's trading volume shall be taken as the settlement price of the day.
If there is no transaction on the day of the contract, the calculation formula of the settlement price of the day is: settlement price of the day = settlement price of the previous trading day of the contract+settlement price of the benchmark contract-settlement price of the previous trading day of the benchmark contract, where the benchmark contract is the contract with the closest delivery month. If the contract is a new listing contract, its listing benchmark price is the settlement price of the previous trading day.
If the benchmark contract is a delivery contract on the same day, the settlement price of delivery shall be the settlement price of the benchmark contract on the same day. If the settlement price of the day calculated according to this formula exceeds the contract stop-loss price, the stop-loss price shall be the settlement price of the day.
If the settlement price of the day cannot be determined by the above method or the calculated settlement price is obviously unreasonable, the settlement price of the day will be determined by the ownership of the transaction.
Baidu Encyclopedia-Debt-free Day Settlement System