Circular On The Promulgation And Implementation Of The Amendments To “Risk Management Measures Of Dalian Commodity Exchange”

For the purpose of reducing trading cost, improving the contract liquidity in recent months and further bringing into play of the function of futures market of serving real economy, DCE makes amendments to the “Risk Management Measures of Dalian Commodity Exchange”, after the approval of the Council and reporting to CSRC. The major amendments include: widening the base of the open interests of some varieties whose margin increases with open interests, adjusting the proportion of each variety whose margin is charged with position gradient; simplifying the gradient setting of the varieties whose margin is charged with time gradient, lowering the margin level of the recent delivery month, simplifying position limit gradient, and postponing the time available to the position limit of ordinary months. The rules amendments are hereby promulgated, and the modified rules shall come into effect as of the clearing time on 31 January 2013.