China Futures Margin Monitoring Center Co., Ltd. (hereinafter referred to as China Futures Margin Monitoring Center) is a safe depository institution for futures margins registered with the State Administration for Industry and Commerce with the approval of the State Council and the decision of China Securities Regulatory Commission. It is a legal person of a non-profit company.

The competent department of China Futures Margin Monitoring Center is China Securities Regulatory Commission, and its business is under the leadership, supervision and management of China Securities Regulatory Commission. The Articles of Association shall be implemented after being approved by China Securities Regulatory Commission. The general manager and deputy general manager shall be appointed or dismissed by the shareholders' meeting and reported to the China Securities Regulatory Commission for approval. China Securities Regulatory Commission established the Management Committee of China Futures Margin Monitoring Center to deliberate and decide on major issues of China Futures Margin Monitoring Center.

The answer to question 2 "

In the futures market, traders can pay a small amount of money according to a certain proportion of the price of futures contracts as financial guarantee for the performance of futures contracts and participate in the trading of futures contracts. This kind of money is the futures margin.

In China, futures margin (hereinafter referred to as margin) varies according to its nature and function. It can be divided into two categories: settlement reserve and trading margin. Settlement reserve is generally paid by member units to the exchange according to fixed standards, and prepared in advance for transaction settlement. Trading margin refers to the actual margin paid by member companies or customers for holding futures contracts in futures trading, which is divided into initial margin and additional margin.

Initial margin is the money that traders need to pay when they open new positions. According to the transaction amount and margin ratio, that is, initial margin = transaction amount and margin ratio. At present, the minimum margin ratio in China is 5% of the transaction amount, which is generally between 3% and 8% internationally. For example, the soybean margin ratio of Dalian Commodity Exchange is 5%. When a customer buys five soybean futures contracts (each 10 ton) at a price of 2,700 yuan/ton, he needs to pay an initial deposit of 6 750 yuan (i.e. 2700x50x5%%) to the exchange.

In the process of holding positions, traders will have floating profits and losses (the difference between settlement price and transaction price) due to the constant changes of market conditions, so the funds actually available in the margin account can be increased or decreased at any time. Floating profit will increase the balance of margin account, while floating loss will decrease the balance of margin account. The minimum balance that must be kept in the margin account is called maintenance margin. Maintenance margin: the settlement price is adjusted to the position, and the margin ratio is adjusted to xk(k is a constant, which is called the maintenance margin ratio, which is usually 0.75 in China). When the book balance of the margin is lower than the maintenance margin, the trader must make up the margin within the specified time to make the margin account balance (settlement price x position x margin ratio), otherwise the exchange or institution has the right to carry out compulsory liquidation on the next trading day. This part of the margin that needs to be replenished is called additional margin. Still according to the above example, suppose that on the third day after the customer bought 50 tons of soybeans at a price of 2700 yuan/ton, the settlement price of soybeans fell to 2600 yuan/ton. Due to the sharp drop in prices, the floating loss of customers is 5000 yuan (that is,

At present, the proportion of trading margin charged by the exchange in normal months of domestic listed futures varieties