Zhengzhou Commodity Exchange: Announcement On Matters Concerning The Introduction Of Overseas Traders In Rapeseed Oil, Rapeseed Meal, Peanut Kernel Futures And Options

The China Securities Regulatory Commission (CSRC) has approved the introduction of overseas investors in rapeseed oil, rapeseed meal, peanut kernel futures and options of Zhengzhou Commodity Exchange (ZCE). The related matters are hereby notified as follows:

Ⅰ. Time for Implementation

From 9:00 a.m., January 12, 2023 (GMT+8)

Ⅱ. Trading Contracts

Contract OI2303, RM2303, PK2303 and subsequent contracts, and options on the aforesaid futures contracts.

Ⅲ. Foreign Currencies as Margins

Overseas traders can use foreign currencies as margins.At present, USD is the only foreign currency that can be used as margins, and the current day’s CNY central parity rate announced by China Foreign Exchange Trade System (CFETS) will be used as the benchmark price to calculate the market value of foreign currencies, with a haircut of 5%.

Before the market close of each trading day, ZCE will use the previous day’s CNY central parity rate announced by the CFETS to calculate the market value of foreign currencies. At the time of settlement on each trading day, ZCE will use the current day’s CNY central parity rate announced by the CFETS as the benchmark price to adjust the market value and discounted value of foreign currencies.

All relevant parties are required to make full preparations and strengthen the prevention of market risks, so as to ensure the smooth market operation.