关于2025年清明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〔2025〕241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2025年清明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2025年4月2日结算时起，菜粕期货合约的交易保证金标准为10%，涨跌停板幅度为8%；菜油期货合约的交易保证金标准为9%，涨跌停板幅度为8%；玻璃期货合约的交易保证金标准为12%，涨跌停板幅度为10%。
二、2025年4月7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，菜粕期货2505、2507、2508、2509、2511、2601及2603合约的交易保证金标准为10%，涨跌停板幅度为8%；菜油期货2505、2507、2509、2511、2601及2603合约的交易保证金标准为9%，涨跌停板幅度为8%；玻璃期货2505合约的交易保证金标准为12%，涨跌停板幅度为10%；上述品种其他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，仍按相关规定执行。
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：2025年清明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
2025年3月31日
附 件
2025年清明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） | 4月2日结算时起 （交易保证金标准/涨跌停板幅度） | 4月7日恢复交易后 （交易保证金标准/涨跌停板幅度） |
菜粕 | 7%/6%（2505、2507、2508、2509、2511、2601合约为9%/6%） | 10%/8% | 7%/6%（2505、2507、2508、2509、2511、2601、2603合约为10%/8%） |
菜油 | 7%/6% | 9%/8% | 7%/6%（2505、2507、2509、2511、2601、2603合约为9%/8%） |
玻璃 | 10%/9% | 12%/10% | 10%/9%（2505合约为12%/10%） |
Notice on Adjustments to Margins and Price Limits of ZCE Products during 2025 Qingming Festival Holidays
To Members:
According to Article 8 of Risk Control Rules of Zhengzhou Commodity Exchange, Zhengzhou Commodity Exchange (ZCE) hereby adjusts margins and price limits of some futures as follows:
From the settlement on April 2, 2025, margins and price limits of Rapeseed Meal will be adjusted to 10% and ±8% respectively; Rapeseed Oil will be adjusted to 9% and ±8% respectively; Glass will be adjusted to 12% and ±10% respectively.
Trading will be resumed on April 7, 2025. 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 FG2505 will still be 12% and ±10%, margins and price limits of RM2505, RM2507, RM2508, RM2509, RM2511, RM2601, RM2603 will still be 10% and ±8%, margins and price limits of OI2505, OI2507, OI2509, OI2511, OI2601, OI2603 will still be 9% and ±8%, 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
March 31, 2025
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 2025 Qingming Festival Holidays
Futures Contracts | Present (margin/price limit) | From the settlement on April 2nd (margin/price limit) | Since April 7th (margin/price limit) |
Rapeseed Meal | 7%/6% (RM2505, RM2507, RM2508, RM2509 RM2511, RM2601 are 9%/6%) | 10%/8% | 7%/6% (RM2505, RM2507, RM2508, RM2509, RM2511, RM2601, RM2603 will still be 10%/8%) |
Rapeseed Oil | 7%/6% | 9%/8% | 7%/6% (OI2505, OI2507, OI2509, OI2511, OI2601, OI2603 will still be 9%/8%) |
Glass | 10%/9% | 12%/10% | 10%/9% (FG2505 will still be 12%/10%) |