DCE

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Product

No.1 Soybean

No.2 Soybean

Soybean Meal

Soybean Oil

RBD Palm Olein

Corn

LLDPE

PVC

Coke

Coking Coal

Iron Ore

Egg

Fiberboard

Blockboard

PP

Corn Starch

Ethylene Glycol

Polished Round-grained Rice Ethenylbenzene Liquefied Petroleum Gas

        Trading Margin (% of Contract Value,Speculation)

8%

8%

8%

8%

8%

6%

11%

9%

9%

9%

9%

7%

10%

40%

11%

6%

11%

6%

12%

11%

Trading Margin (% of Contract Value,Hedging)

7% 7% 7% 7% 7% 5% 9% 8% 8% 8% 8% 6% 10% 40% 9% 5% 9% 5% 11% 10%

Price Limit (% of Last Settlement Price)

Existing Contract

7%

7%

7%

7%

7%

5%

9%

8%

8%

8%

8%

6%

5%

5%

9%

5%

9%

5%

11%

10%

New Contract

8%

8%

8%

8%

8%

8%

9%

8%

8%

8%

8%

8%

8%

8%

9%

8%

9%

8%

11%

10%

Delivery Month Contract

7%

7%

7%

7%

7%

6%

9%

8%

8%

8%

8%

6%

6%

6%

9%

6%

9%

6%

11%

10%

Trading margin and price limit (in non-delivery months) in case of continuously one-sided

N Day

Trading Margin(Speculation)

8%

8%

8%

8%

8%

6%

11%

9%

9%

9%

9%

7%

10%

40%

11%

6%

11%

6%

12%

11%

Trading Margin(Hedging

7% 7% 7% 7% 7% 5% 9% 8% 8% 8% 8% 6% 10% 40% 9% 5% 9% 5% 11% 10%

Settlement MarginSpeculation/Hedging

12%

12%

12%

12%

12%

10%

14%

13%

13%

13%

13%

11%

10%

40%

14%

10%

14%

10%

16%

15%

Price Limit

7%

7%

7%

7%

7%

5%

9%

8%

8%

8%

8%

6%

5%

5%

9%

5%

9%

5%

11%

10%

N+1Day

Trading MarginSpeculation/Hedging

12%

12%

12%

12%

12%

10%

14%

13%

13%

13%

13%

11%

10%

40%

14%

10%

14%

10%

16%

15%

Settlement MarginSpeculation/Hedging

14%

14%

14%

14%

14%

12%

16%

15%

15%

15%

15%

13%

12%

40%

16%

12%

16%

12%

18%

17%

Price Limit

10%

10%

10%

10%

10%

8%

12%

11%

11%

11%

11%

9%

8%

8%

12%

8%

12%

8%

14%

13%

N+2Day

Trading MarginSpeculation/Hedging

14%

14%

14%

14%

14%

12%

16%

15%

15%

15%

15%

13%

12%

40%

16%

12%

16%

12%

18%

17%

Price Limit

12%

12%

12%

12%

12%

10%

14%

13%

13%

13%

13%

11%

10%

10%

14%

10%

14%

10% 16% 15%

Trading Limit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trading Fee (CNY/Lot)

Contract Provisions

2

1

1, 5, 9 contract: 1.5; other contracts: 0.2

1, 5, 9 contract: 2.5; other contracts: 0.2 

1, 5, 9 contract: 2.5; other contracts: 0.2 

1, 5, 9 contract: 1.2; other contracts: 0.2

1, 5, 9 contract: 2; other contracts: 0.2 

 

 

1, 5, 9 contract: 2; other contracts: 0.2 

 

1, 5, 9 contract: 0.06‰ of trading turnover;other contracts: 0.006‰ of trading turnover

 

 

 

1, 5, 9 contract: 0.06‰ of trading turnover;other contracts: 0.006‰ of trading turnover

 

1, 5, 9 contract: 0.1‰ of trading turnover:other contracts: 0.01‰ of trading turnover

Contract 2004 and 2005:0.3‰ of trading turnover; other contracts 0.15‰ of trading turnover 

0.1‰ of trading turnover

0.1‰ of trading turnover

1, 5, 9 contract: 0.06‰ of trading turnover:other contracts: 0.006‰ of trading turnover

1, 5, 9 contract: 1.5; other contracts: 0.2

 

1, 5, 9 contract: 4; other contracts: 0.4

1, 5, 9 contract: 4; other contracts: 0.4 6 6

Day Trading(Same Day Opening Positions First and Then Closing Positions)

2

1

1, 5, 9 contract: 0.75; other contracts: 0.1

 

 

 

1, 5, 9 contract: 1.25; other contracts: 0.1  

 

 

1, 5, 9 contract: 1.25; other contracts: 0.1  

1, 5, 9 contract: 0.6; other contracts: 0.1

1, 5, 9 contract: 1; other contracts: 0.1  

1, 5, 9 contract: 1; other contracts: 0.1  

 1, 5, 9 contract: 0.18‰ of trading turnover;other contracts: 0.006‰ of trading turnover

1, 5, 9 contract: 0.18‰ of trading turnover;other contracts: 0.006‰ of trading turnover

1, 5, 9 contract: 0.1‰ of trading turnover: not in1,5,9 contracts: 0.01‰ of trading turnover

Contract 2004 and 2005:0.3‰ of trading turnover; other contracts 0.15‰ of trading turnover

0.1‰ of trading turnover

0.05‰ of trading turnover

1, 5, 9 contract: 0.03‰ of trading turnover:other contracts: 0.003 of trading turnover

1, 5, 9 contract: 0.75; other contracts: 0.1

 

 

1, 5, 9 contract: 2; other contracts: 0.2

1, 5, 9 contract: 4; other contracts: 0.4 6 6

Delivery Fee (CNY/Ton,CNY/Cubic Meter  for Fiberboard  and  CNY/Sheet for Blockboard)

4

1

1

1

1

1

2

2

1

1

0.5

1

0.2

0.01

2

1

1

1 1 1

Maximum Number of Lots to Place an Order

1000

1000

1000

1000

1000

2000

1000

1000

500

1000

1000

300

1000

1000

1000

1000

1000

1000 1000 1000
Note: In accordance with Article 10 of the Measures for Risk Management of Dalian Commodity Exchange, with respect to the contract which satisfies more than one provision herein in connection with adjusting the trading margin, its trading margin shall be the larger or the largest of the trading margins. In case the market closes for a long time due to the statutory holidays, the trading margin and the price limit of a contract in case of one-sided non-continuous quotation under the price limit in three continuous trading days shall be subject to the provisions in the notice of adjusting trading margin and price limit during the period of market closure.

 Futures & Options Portfolio Margin Discounts
There are two ways for clients to obtain portfolio margin discounts during trading session and settlement
During trading session 1、Arbitrage order
2、Portfolio application
During settlement 1、During settlement, the exchange will establish new portfolios of the client’s positions according to the designated priority to grant margin discounts.
2、The client can apply for qualification to retain the portfolio (Client should apply through member entities). When the application is approved, the exchange will retain its portfolio positions and will not establish new portfolios with the remaining outright positions.
DCE Portfolio Strategies 
Portfolio Strategies Explanation  Portfolio Margin Rates
Futures Locked Strategy Holding equal long and short positions simultaneously on the same futures contract.  Max (long position margin, short position margin)
Futures Spread Strategy Holding the positions of the same amount and different directions on contracts in different  months under the same futures product
Futures Inter-product
Strategy
Holding the positions of the same amount and different directions on different futures products
Selling Options & Futures Strategy Selling call options while buying corresponding futures contract. Futures Margin + Settlement Price of Options Premium
Selling put options while selling corresponding futures contract.
Straddle Strategy Selling the call options and put options with the same exercise price in the same series; Max (call options margin, put options margin) + premium of the other side
Strangle Strategy Selling the put options with lower exercise price and the call options with higher exercise price in the same series.
Remark:As to Straddle and Strangle Strategy,If call options margin=put options margin
futures & options portfolio margin = max (call options margin, put options margin)  + max(premium of call options,premium of put options)
DCE Locked Portfolio Parameter Consession
NO. Portfolio Category Portfolio Product
1 Locked No. 1 Soybean
2 Locked No. 2 Soybean
3 Locked Blockboard
4 Locked Corn
5 Locked Fiberboard
6 Locked Iron Ore
7 Locked Coke
8 Locked Egg
9 Locked Coking Coal
10 Locked LLDPE
11 Locked Soybean Meal
12 Locked RBD Palm Olein
13 Locked PP
14 Locked PVC
15 Locked Soybean Oil
16 Locked Corn Starch
17 Locked EG
18 Locked Polished Round-grained Rice
19 Locked EB
DCE Spread Strategy Parameter Concessions
NO. Portfolio Category Portfolio Product
1 Spread  No. 1 Soybean
2 Spread  No. 2 Soybean
3 Spread  Blockboard
4 Spread  Corn
5 Spread  Fiberboard
6 Spread  Iron Ore
7 Spread  Coke
8 Spread  Egg
9 Spread  Coking Coal
10 Spread  LLDPE
11 Spread  Soybean Meal
12 Spread  RBD Palm Olein
13 Spread  PP
14 Spread  PVC
15 Spread  Soybean Oil
16 Spread  Corn Starch
17 Spread  EG
18 Spread  Polished Round-grained Rice
19 Spread  EB
DCE  inter-commodity Parameter Concessions
NO. Portfolio Category Portfolio Product
1 inter-commodity No. 1 Soybean, Soybean Meal
2 inter-commodity Soybean Oil, RBD Palm Olein
3 inter-commodity LLDPE, PVC
4 inter-commodity Coke, Coking Coal
5 inter-commodity Blockboard, Fiberboard
6 inter-commodity LLDPE, PP
7 inter-commodity PVC, PP
8 inter-commodity Iron Ore, Coking Coal
9 inter-commodity Iron Ore, Coke
10 inter-commodity Corn, Corn Starch
11 inter-commodity No. 2 Soybean, Soybean Meal
12 inter-commodity EB,EG
13 inter-commodity EB,LLDPE
DCE Selling Options & Futures Strategy Parameter Concessions
NO. Portfolio Category Portfolio Product
1 Selling Options & Futures Strategy Soybean Meal
2 Selling Options & Futures Strategy Corn
3 Selling Options & Futures Strategy Iron Ore
DCE Straddle Strategy Parameter Concessions
NO. Portfolio Category Portfolio Product
1 Straddle Strategy  Soybean Meal
2 Straddle Strategy  Corn
3 Straddle Strategy  Iron Ore
DCE Strangle Strategy Parameter Concessions
NO. Portfolio Category Portfolio Product
1 Strangle Strategy Soybean Meal
1 Strangle Strategy Corn
2 Strangle Strategy Iron Ore

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