Zhengzhou Commodity Exchange: Announcement Regarding Matters Related to the Power Coal Futures Contract 2703

The Zhengzhou Commodity Exchange has issued an announcement. After research, it has been decided that the following matters concerning the Thermal Coal Futures Contract 2703 shall be announced as follows:

I. Trading Margin Requirements and Daily Price Limit (Price Increase/Decrease)

The trading margin requirement is 50%, and the daily price limit (up and down) is 10%. If the trading margin requirement and daily price limit stipulated under the rules are higher than the above standards, the relevant provisions shall still apply.

II. Trading Limits

For non-futures-company members or customers, the maximum number of open positions on a single trading day is 20 lots. The number of open positions on a single trading day refers to the sum of the number of buy-open positions and sell-open positions on a single futures contract by a non-futures-company member or customer on that day. For account groups under actual controlling relationships, the maximum number of open positions on a single day shall be executed according to each individual customer. The number of open positions for hedging transactions and market-making transactions is not subject to trading limits.

For non-futures-company members or customers that exceed the trading limit for the first time, the Zhengzhou Commodity Exchange will take regulatory measures to suspend opening positions for no fewer than 5 trading days. For those that exceed the trading limit cumulatively twice, regulatory measures will be taken to suspend opening positions for no fewer than 1 month. If the circumstances are serious, they shall be handled in accordance with the relevant provisions of the Administrative Measures for Handling Violations of the Zhengzhou Commodity Exchange.