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On May 19th , Dalian Commodity Exchange (DCE) announced that polyvinyl chloride (PVC) futures trading would start on May 25th , and its revising detailed rules to carry it out. This time, DCE announced the following issues in detail, including: The PVC Futures Contract at the DCE, The Revising Rules regarding Transaction at the DCE , and The Revising Rules regarding Delivery at the DCE . On May 18th, the China Securities Regulatory Commission announced its approval to launch PVC futures contract at DCE.
Yesterday, the DCE announced in detail the updated PVC futures contract, mainly including that: the minimum trading margin for the new contract would be five percent of the contract value, the trading unit is 5 ton/contract, the tick size is 5 CNY/ton, the daily price limit would be ±4% of the previous settlement price , the trading fee under 6 CNY/ contract, its delivery month from January to December.
The quality of its delivery product should fit for China's National standard, the A-one or superiority product in SG5 type in GB/T 5761-2006. The relevant chiefs at the DCE expressed that compared with its original drafts, these pertinent detailed enforcement rules made mainly some adjustment aiming to make PVC futures better coming into market.
Furthermore, in order to fit with the new changing in PVC market, in The Amendment of Delivery Detail Notes at the DCE, the DCE also adjusts the fee of its PVC designated delivery warehouses from originally 0.6 CNY /ton /day to 1 CNY / ton /day, which will be implemented on October, 1st, 2009.
This notice announced that the Amendment of PVC will be implemented since the PVC futures coming into market at the DCE.
