The Shanghai Futures Exchange will adjust its limits on margin trading and price volatility for all contracts during the Lunar New Year holiday from Feb. 12 through Feb. 22.
The minimum margin for trading of copper, rebar, wire, natural rubber and fuel oil contracts will be raised to 11% of contracts' value from 8% starting Feb. 12, the last trading session before the holiday, the SHFE said in a statement.
The margins will be reset to 8% at settlement Feb. 22, the first trading session after the holiday, if trading on that day doesn't touch upper or lower limits.
The minimum margin for trading of aluminum, zinc, and gold contracts will be raised to 11% starting February 12 and reset to 7% at settlement February 22 if trading on that day doesn't touch upper or lower limits.
The upper and lower limits for all contracts traded on the bourse will be widened to 7% of previous settlement prices starting Feb. 12, and will be reset to 5% Feb. 23 if trading the previous day doesn't hit upper or lower limits.
The futures bourse usually makes such changes ahead of long holidays given the chance of higher volatility due to movements on the London Metal Exchange while the Chinese market is closed.
(Source: irco.biz)
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