关于2024年春节期间调整部分期货合约交易保证金标准和涨跌停板幅度的通知
郑商函〔2024〕71号
各会员单位：
根据《郑州商品交易所期货交易风险控制管理办法》第八条规定，经研究决定，对2024年春节期间部分期货合约交易保证金标准和涨跌停板幅度作出如下调整：
一、自2024年2月7日结算时起，白糖、棉花、棉纱、菜粕、菜油、PTA、短纤和甲醇期货合约的交易保证金标准为10%，涨跌停板幅度为9%；尿素期货合约的交易保证金标准为11%，涨跌停板幅度为9%。
二、2024年2月19日恢复交易后，自品种持仓量最大的合约未出现涨跌停板单边市的第一个交易日结算时起，菜粕、菜油期货合约的交易保证金标准为7%，涨跌停板幅度为6%；硅铁、锰硅期货合约的交易保证金标准为9%，涨跌停板幅度为8%；其他品种期货合约的交易保证金标准和涨跌停板幅度恢复至调整前水平。
按规则规定执行的交易保证金标准和涨跌停板幅度高于上述标准的，仍按原规定执行。
请各会员单位加强资金和持仓风险管理，提醒投资者强化风险意识，加强风险防范。
特此通知。
附件：2024年春节期间交易保证金标准和涨跌停板幅度
调整情况
郑州商品交易所
2024年2月2日
附 件
2024年春节期间交易保证金标准和涨跌停板幅度调整情况
品种 | 调整前 （交易保证金标准/ 涨跌停板幅度） | 2月7日结算时起 （交易保证金标准/ 涨跌停板幅度） | 2月19日恢复交易 （交易保证金标准/ 涨跌停板幅度） |
硅铁 | 12%/10% | 12%/10% | 9%/8% |
锰硅 | 12%/10% | 12%/10% | |
菜粕 | 9%/8% | 10%/9% | 7%/6% |
菜油 | 9%/8% | 10%/9% | |
短纤 | 8%/7% | 10%/9% | 恢复至调整前水平 |
甲醇 | 8%/7% | 10%/9% | |
尿素 | 8%/7%（尿素2403至2405合约交易保证金标准为11%，尿素2402至2405合约涨跌停板幅度为9%） | 11%/9% | |
棉花 | 7%/6%（棉花2403及2405合约为9%/8%） | 10%/9% | |
棉纱 | 7%/6% | 10%/9% | |
白糖 | 7%/6% | 10%/9% | |
PTA | 7%/6% | 10%/9% |
Notice on Adjustments to Margins and Price Limits of ZCE Products during 2024 Spring Festival Holidays
To Members:
According to Article 8 of the Measures for the Administration of Risk Control of Zhengzhou Commodity Exchange, Zhengzhou Commodity Exchange (ZCE) hereby adjusts margins and price limits of some futures as follows:
From the settlement on February 7, 2024, margins and price limits of Sugar, Cotton, Cotton Yarn, Rapeseed Meal, Rapeseed Oil, Purified Terephthalic Acid, Polyester Staple Fiber and Methanol futures will be adjusted to 10% and 9% respectively. Margins and price limits of Urea futures will be adjusted to 11% and 9% respectively.
Trading will be resumed on February 19, 2024. From the settlement of the first trading day on which limit-locked market does not occur on the contract with the largest open interest of such product, margins and price limits of Rapeseed Meal, Rapeseed Oil futures will be adjusted to 7% and 6% respectively. Margins and price limits of Ferrosilicon, Manganese Silicon futures will be adjusted to 9% and 8% respectively. Margins and price limits of other futures contracts will be restored to standards before the adjustments.
In case the above adjusted margins and price limits vary from the current ones, the higher one will prevail.
All members are required to strengthen capital and position risks management, and to remind clients to improve risk awareness.
Zhengzhou Commodity Exchange
February 2, 2024
Disclaimer: This English version may be used for reference only. If there is any discrepancy between the English version and the Chinese version, the Chinese version shall prevail.
Attachment
Adjustments of Margins and Price Limits of ZCE Products During 2024 Spring Festival Holidays
Futures Contracts | Present (margin/price limit) | From the settlement on February 7th (margin/price limit) | Since February 19th (margin/price limit) |
Ferrosilicon | 12%/10% | 12%/10% | 9%/8% |
Manganese Silicon | 12%/10% | 12%/10% | |
Rapeseed Meal | 9%/8% | 10%/9% | 7%/6% |
Rapeseed Oil | 9%/8% | 10%/9% | |
Polyester Staple Fiber | 8%/7% | 10%/9% | restored to standards before the adjustments |
Methanol | 8%/7% | 10%/9% | |
Urea | 8%/7%(Margins of UR2403,UR2404 and UR2405 are 11%, price limits of UR2402,UR2403,UR2404 and UR2405 are9%) | 11%/9% | |
Cotton | 7%/6%(Margins and price limits of CF2403 and CF2405 are 9%/8%） | 10%/9% | |
Cotton Yarn | 7%/6% | 10%/9% | |
White Sugar | 7%/6% | 10%/9% | |
Purified Terephthalic Acid | 7%/6% | 10%/9% |