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On July 20, Dalian Commodity Exchange (DCE) issued the “Notice on Adjusting the Position Limits and Trading Limits for the Metallurgical Coke and Coking Coal Futures” and the “Notice on Adjusting the Trading Fee Rates for the Iron Ore and PP Futures”, so as to adjust the position limits and trading limits for the metallurgical coke and coking coal futures and reduce the intraday trading fee rates for the January, May and September Contracts of the iron ore and PP futures. In response to the clients’ requirement, this year, DCE has been assessing the position limits for the futures and the options and making adjustments to the position limits of the products based on the market situations, in order to better develop the futures market in Dalian City.
After this round of adjustments, the fixed position limits of the metallurgical coke and coking coal futures below certain open interest in ordinary months for non-futures-company members and clients were increased from 2,400 and 5,000 contracts to 5,000 and 8,000 contracts respectively, the ratio of position limit above certain open interest in ordinary months is set at 10%. The position limit mode in ordinary months is in line with other futures on DCE except the egg futures. The adjusted position limits shall take effect starting from the settlement on July 24, 2017.
Besides adjusting the position limits for the metallurgical coke and coking coal futures, DCE has also relaxed the trading limits for the two futures products after the end of last year. The trading limits of the 1709 Contract and 1801 Contract of the metallurgical coke and coking coal futures are adjusted from 1,000 contracts per trading day to 2,000 contracts per trading respectively with no trading limit set for other contracts. The adjusted trading limits shall take effect starting from the trading on July 25, 2017 (that is, the after-hours trading on the night of July 24).
On the same day, DCE also issued the “Notice on Adjusting the Trading Fee Rates for the Iron Ore and PP Futures” to adjust down the intraday trading fee rates for the January, May and September Contracts of the iron ore and PP futures, in order to further improve the market operation quality and efficiency.
According to the notice, the intraday trading fee rate of the January, May and September Contracts for the iron ore futures is adjusted from 0.024% to 0.012% of the turnover, for the PP futures from 0.012% to 0.006%. The adjusted fee rates shall come into force starting from the trading on July 25 (that is, the after-hours trading on the night of July 24).
