FangQuant › Commodities Futures
Notice on Adjustments to Price Limits and Trading Margins During 2021 New Year’s Day Holidays
Ref: No.640 [2020] DCE
December 28, 2020
To all members:
According to the Measures for Risk Management of Dalian Commodity Exchange, Dalian Commodity Exchange (DCE) has decided upon discussion to make the following adjustments to the price limits and the trading margins for futures of each product before and after the 2021 New Year’s Day holidays:
From the settlement on December 30 (Wednesday), 2020, the speculation trading margins of Iron Ore futures will be adjusted from 11% to 12% (the speculation margin of contract I2105 will remain 15% unchanged), the price limits and hedging trading margins will remain 10% unchanged; the price limits of Coke and Coking Coal futures will be adjusted from 8% to 10%, the hedging trading margins and speculation trading margins will be adjusted from 8% and 9% to 10% and 11%, respectively; the speculation trading margins of No.1 Soybean futures will be adjusted from 10% to 12%, the price limits and hedging trading margins will remain 8% unchanged; the speculation trading margins of RBD Palm Olein futures will be adjusted from 9% to 10%, the price limits and hedging trading margins will remain 8% unchanged; the price limits and speculation trading margins of Corn futures will be adjusted from 6% and 8% to 7% and 9%, respectively, and the hedging trading margins will remain 7% unchanged; the price limits of Egg futures will be adjusted from 6% to 8%, the hedging trading margins and speculation trading margins will be adjusted from 6% and 7% to 8% and 9%, respectively; the price limits and the trading margins of other futures will remain unchanged.
After the trading is resumed on January 4 (Monday), 2021, the price limits and the trading margins of Iron Ore, Coke, Coking Coal, No.1 Soybean, RBD Palm Olein, Corn and Egg will remain unchanged as the same standards during the New Year’s Day holidays; the price limits and the trading margins of other futures will remain unchanged.
Sheet: Adjustments of Risk Parameters of Futures Products of DCE During and After New Year’s Day Holidays
Product
Present
During the Holidays
After the Holidays
Price Limit
Trading Margin
Price Limit
Trading Margin
Price Limit
Trading Margin
Speculation
Hedging
Speculation
Hedging
Speculation
Hedging
Iron Ore
10%
11%
10%
10%
12%
10%
10%
12%
10%
Coke
8%
9%
8%
10%
11%
10%
10%
11%
10%
Coking Coal
8%
9%
8%
10%
11%
10%
10%
11%
10%
No.1 Soybean
8%
10%
8%
8%
12%
8%
8%
12%
8%
No.2 Soybean
8%
9%
8%
8%
9%
8%
8%
9%
8%
Soybean Meal
7%
8%
7%
7%
8%
7%
7%
8%
7%
Soybean Oil
7%
8%
7%
7%
8%
7%
7%
8%
7%
RBD Palm Olein
8%
9%
8%
8%
10%
8%
8%
10%
8%
Corn
6%
8%
7%
7%
9%
7%
7%
9%
7%
Corn Starch
6%
7%
6%
6%
7%
6%
6%
7%
6%
Polished Round-grained Rice
5%
6%
5%
5%
6%
5%
5%
6%
5%
Egg
6%
7%
6%
8%
9%
8%
8%
9%
8%
LLDPE
9%
11%
9%
9%
11%
9%
9%
11%
9%
PP
9%
11%
9%
9%
11%
9%
9%
11%
9%
PVC
8%
9%
8%
8%
9%
8%
8%
9%
8%
Ethylene Glycol
9%
11%
9%
9%
11%
9%
9%
11%
9%
Ethenylbenzene
11%
12%
11%
11%
12%
11%
11%
12%
11%
LPG
10%
11%
10%
10%
11%
10%
10%
11%
10%
Fiberboard
5%
10%
10%
5%
10%
10%
5%
10%
10%
Blockboard
5%
40%
40%
5%
40%
40%
5%
40%
40%
If the above adjusted price limits and trading margins are not consistent with the existing ones, the higher one of the two shall prevail.
As the 2021 New Year’s Day holidays are coming and large fluctuations have been recorded in the market recently, all members are required to send risk alerts to the clients and intensify the prevention of market risks, so as to ensure the smooth market operation.
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