The China Securities Regulatory Commission (CSRC) has officially approved the registration of Benzene futures on Dalian Commodity Exchange (DCE) . The relevant matters on listing and trading are hereby released:
I. Listing and Trading Time
The Benzene futures contracts will be listed and traded since 9:00 on July 8 (Tuesday), 2025，with the call auction from 8:55 to 9:00. There will be night trading session for Benzene futures.
II. Listed and Traded Contracts
The first batch of listed and traded contracts includes BZ2603, BZ2604, BZ2605 and BZ2606.
III. Trading Margin and Price Limit
The price limits of Benzene futures shall be 7% of the settlement price of the last trading day. On the first trading day, the price limits of Benzene futures shall be 14% of the listing benchmark prices. The trading margins of Benzene futures shall be 8% of the contract value.
Other provisions shall be subject to the Measures for Risk Management of Dalian Commodity Exchange.
IV.Trading Commission
The trading commission is 0.01% of the amount of the concluded contracts. The hedging trading commission is 0.005% of the amount of the concluded contracts.
V. Order Fees
The order fees shall be collected on daily basis. The standards are as follows:
Table: The order fees standards of Benzene futures
|
Product |
Charging rate: CNY/count |
||||
|
Message amount≤4000 count |
4000 count＜Message amount≤8000 count; OTR≤2 |
4000 count＜Message amount≤8000 count; OTR＞2 |
Message amount＞8000 count; OTR≤2 |
Message amount＞8000 count; OTR＞2 |
|
|
Benzene futures |
0 |
0 |
2 |
4 |
10 |
Contract order fees are calculated based on the contract.
Contract order fee = ∑(each message amount of contract by clients or Non-Futures Company Members on the then-current day × each charging rate)
Message amount = number of order placements + number of order cancellations
OTR= message amount / number of executed orders-1
Market makers are exempted from order fees for market making trading.
As for the same client who has several trading codes with different Futures Company Members, or clients and Non-Futures Company Members involving actual control relationship, DCE will calculate their number of order placements, number of order cancellations and number of executed orders on a consolidated basis.
VI. Portfolio Margin
There will be trading margin discount for the portfolio positions on Benzene futures. For more information, please see Trading&Clearing-Trading Parameters-Portfolio Concessions through DCE’s website (www.dce.com.cn).
VII. Position Information Disclosure
DCE will release the trading volumes and open interests of Benzene futures contracts after the settlement on each trading day.
The listing benchmark prices of the new contracts, the delivery areas, premiums/discounts of different regions, designated quality inspection agencies, designated delivery warehouses will be notified before the listing of Benzene futures by DCE.
All entities are required to make all preparations for the listing of Benzene futures and pay attention to risk prevention to ensure the smooth operation of the market.
