The minimum contract trading margin is 6, which is 7 in the initial stage of listing. Bilateral positions in general months (N0,000 lots) N≤40 4060; trading margin ratios are 7, 9, 12, 15; the month before the delivery month is early, middle, late, and delivery month; trading margin ratios are 8, 15, 20, 30. If the positions of broker members, non-broker members, and investors in the month before the delivery month (including hedging positions and arbitrage positions) respectively reach 15, 10, and 5 of the unilateral market positions in the delivery month, the normal margin ratio will be increased. 5 percentage points.
2. Sugar futures position limit system
Note: The position limits of futures company members in the table are base numbers, and the exchange can adjust its position limits based on net assets and operating conditions.
3. Sugar Futures Settlement System The daily debt-free settlement system means that after the end of daily trading, the exchange settles the profits and losses, trading margins, handling fees, taxes, etc. of all contracts based on the settlement price on that day. The net amount payable will be transferred in one go, and the member's settlement reserve will be increased or decreased accordingly.
4. Sugar futures price limit system The price limit refers to the maximum intraday price fluctuation range allowed by a futures contract. Quotations exceeding this range are deemed invalid and cannot be traded. The price limit for the sugar contract is 4 times the settlement price on the previous trading day. If a futures contract has a one-sided market on a certain trading day (this trading day is called D1 trading day, and the following trading days are called D2, D3, and D4 trading days respectively), the trading margin of the futures contract when settling on D1 trading day The standard is increased by 50% based on the original trading margin standard; the price limit range of the contract on D2 trading day is expanded by 50% based on the original price limit range. If the futures contract does not have a unilateral market in the same direction on the D2 trading day, the trading margin standards and price limits on the D3 trading day will return to the pre-adjustment levels; if a unilateral market in the same direction occurs on the D2 trading day, the settlement on that day and the D3 trading day The trading margin standard remains unchanged after the increase, and the price limit range on the D3 trading day remains unchanged after the increase. If the futures contract does not experience a unilateral market in the same direction on the D3 trading day, the trading margin standard and price limit range will return to the pre-adjustment levels on the D4 trading day; if the futures contract still experiences a unilateral market in the same direction on the D3 trading day (i.e. three consecutive If there is a unilateral market in the same direction on the trading day), the futures contract will be suspended for one day on D4. Under special circumstances, the exchange will take risk control measures based on market conditions.
5. Sugar Futures Forced Liquidation System When a member or customer encounters one of the following circumstances, the exchange has the right to forcefully liquidate the position: 1. The balance of the settlement reserve is less than zero and cannot be replenished within the specified time; 2. The position position exceeds the position limit; 3. The position held by a natural person entering the delivery month; 4. The position is subject to forced liquidation by the exchange due to violations; 5. The position should be forcibly liquidated according to the emergency measures of the exchange; 6. Others should be forcibly liquidated.