On April 14, the Guangzhou Futures Exchange issued an announcement stating that, after deliberation, the details for the polysilicon futures PS2704 contract and the lithium carbonate futures LC2704 contract are hereby announced as follows:
For the polysilicon futures PS2704 contract, the trading fee is set at 0.025% of the turnover value, and the intraday position closing fee is also set at 0.025% of the turnover value. The minimum order size for each trading order is 5 lots for opening a position and 1 lot for closing a position. Non-futures company members or clients shall not exceed a daily opening position limit of 200 lots.
For the lithium carbonate futures LC2704 contract, the trading fee is set at 0.032% of the turnover value, and the intraday position closing fee is also set at 0.032% of the turnover value. The minimum order size for each trading order is 5 lots for opening a position and 1 lot for closing a position. Non-futures company members or clients shall not exceed a daily opening position limit of 400 lots.
The daily opening position limit refers to the sum of buy-opening and sell-opening positions for a single contract by a non-futures company member or client on a given day. Hedging and market-making transactions are exempt from the above limit. Accounts with actual control relationships shall be managed as a single account.
Written by Cora Ji, jiruyan@mysteel.com
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