Lead futures contract was adjusted to 5 tons / hand to meet the needs of enterprises involved in lead

Published: 8:16:00 August 9,2013  Views: 95

Securities Times Online (www.stcn.com08 09 July hearing

In order to lead to better futures for the industry to services, while effectively price discovery and risk aversion function, August 8, the period published << Shanghai Futures Exchange lead futures contracts - standard amendment << Shanghai Futures Exchange Risk Control Measures >> << amendments and lead ingots quality premiums and discounts on the adjustment notice >>, the standard for lead futures contract was further revised and improved

Lead futures unit was adjusted to 5 tons / hand

According to the relevant person in charge of the introduction, the main changes are the following: first, the lead futures contract trading unit from 25 tons / Hand adjusted to 5 tons / hand delivery units are still 25 tons / hand, second, lead futures contract minimum trading margin of 8% from the value of the contract was adjusted to 5%, and the third, lead futures contract maximum daily price fluctuation limit from ± 5% adjustment to ± 4%, the fourth, in order to meet lead futures contract size amendments on << Shanghai Futures Exchange Risk Control Measures >> lead futures contract minimum trading margin, margin positions gradient, time gradient margin, position limits system and so do the corresponding multiplier adjustment, while increasing overall positions close to the delivery month multiple adjustments.

In addition, for a batch of white rust surface of lead ingots, according to the quality premium is adjusted to 120 yuan per ton from 50 yuan per ton produced receipts for this entry modification Haijing or metal materials, general manager Li Zhihua that lead futures market, the exchange actively implement the national standard of lead ingots indoor storage requirements, while the surface for a batch of white rust of lead ingots, given 120 yuan per ton premium quality. these measures to guide enterprises in the production and circulation, the implementation of lead ingots stored indoors played a positive role. After a year of operating practices, businesses, warehouses environmental awareness has been greatly improved, storage lead ingots are lot of white rust situation is significantly reduced. Accordingly, based on the exchange spot market situation, the batch of white rust premium quality lead ingots adjusted to 50 yuan per ton, lead ingot stage to meet spot market trading needs of all parties.

'Need to remind investors that the only lead futures contract and the minimum trading margin maximum daily price fluctuation limit has been adjusted, but the actual settlement of transactions in the lead futures contract trading margin and minimum maximum daily price fluctuation limit notify the Executive in accordance with the relevant exchange, currently at 8% and 5%. 'the official said on stage.

Investors are cautioned adjusted exchange details

Exchange market to remind investors should pay attention to the details of the modified:

First, investors outstanding futures positions lead the implementation date of the new contract is displayed as 5 times the original, conversion of physical tonnages unchanged.

Second, before the first delivery month on the last trading day before the close of each member, each member of each customer in the lead at the speculative positions in futures contracts shall be adjusted to 5 integer multiples of the hand, the delivery month, lead contract speculation positions should be integer multiples of 5 lots, new open positions should also be an integral multiple of 5 lots.

Third, since the size of the contract has been adjusted in the before and after implementation, volume, open interest and other relevant statistical data values ​​may appear more substantial changes, investors pay attention.

Fourth, the standard lead futures contracts and risk control management approach to adjustment will be September 2, 2013 came into effect, and lead ingots quality premiums and discounts on the adjustment they will be December 18, 2013 onwards.

Contract modifications to meet the business needs related to

The past two years, lead smelting enterprises, battery manufacturers and futures companies have repeatedly called lead futures exchanges to amend the rules of the relevant contracts. Amendments to the contract, the futures market services conform to the reality of the development needs of the real economy, and promote lead futures market functions effective play for enterprises to avoid market risks, production and management to provide efficient protection tool.

Yuguang Gold & Lead Co., Ltd. Deputy General Manager Miao Hong Qiang said that the domestic lead price fluctuations, lead industry chain related futures hedging business with a strong internal demand of lead futures contract rule amendments to facilitate more number of investors in the futures market, futures prices lead to enhance the continuity and authority to change the current companies involved in the process of facing the hedge 'orders difficult, difficult positions, shifting positions difficult' predicament, to effectively meet corporate hedging and pricing requirements, effective hedging is expected to achieve a predetermined goal to help companies achieve the spot market and futures market, 'two legs' to walk balanced to protect the stability of production and operation.

(Securities Times Online News Center

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