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On April 26, Dalian Commodity Exchange (DCE) announced its revisions to Measures for Trading Management of Dalian Commodity Exchange and Measures for Market Maker Management of Dalian Commodity Exchange. Starting from May 26, 2023 (i.e., the night session on May 25), an additional call auction will be held for the products traded in night session offered by DCE before the first day trading session.
According to the announcement, day session call auctions will be added for the products traded in night session on DCE, with a declaration phase lasting from 8:55 to 8:59 a.m. and a matching phase from 8:59 to 9:00 a.m., which are consistent with the call auction periods of products traded in day session. In addition, the matching principle for the day session call auction will be based on the maximum transaction volume, meaning that a maximum transaction volume can be generated if a product is transacted with this price. This is consistent with the current matching principle for the opening auction.
This marks another important step taken by the exchange to improve its trading mechanism. This move will further enhance the continuity of futures contract prices, and reduce price gaps, so as to better ensure the fairness and stability of the futures market and effectively
With the additional day session call auction for related products, the day session trading time will be adjusted accordingly. Traders are required to make arrangements based on the latest trading time.
