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Announcement on the application and usage of the hedging quota on PTA and White Sugar

According to Article 6, Article 12 and Article 18 of the Measures for the Administration of Hedging Activities of Zhengzhou Commodity Exchange (ZCE), ZCE has decided that the hedging quota for regular months on PTA and White Sugar can be applied for by product, and the corresponding approved hedging quota of non-FB members or clients can be automatically converted to hedging quota for the trading days between the 16th calendar day and the last calendar day of the month preceding the delivery month with a specified quantity. The details of adjustments are as follows:

Ⅰ.The hedging quota for regular months on PTA and White Sugar can be applied for by product

From April 26, 2021, non-FB members or clients can apply for the hedging quota for regular months on PTA and White Sugar by product or contract. From the settlement on May 31, 2021, the hedging quota applied for by product will come into effect, and the previously approved hedging quota applied for by contract will be invalid. From June 1, 2021, non-FB members or clients shall apply for the hedging quota for regular months only by product.

For non-FB members or clients whose hedging quota for regular months by method of product application has been approved, the aggregation of hedging positions and speculative positions shall not exceed twice of the speculative position limits, where the speculative positions shall not exceed the corresponding speculative position limits and the hedging positions shall not exceed the approved hedging quota.

Ⅱ.The effective date and quantity for the conversion of the hedging quota for regular months on PTA and White Sugar

From the settlement on May 31, 2021, on the trading days between the 16th calendar day and the last calendar day of the month preceding the delivery month, the conversion quota of non-FB members or clients on PTA and White Sugar shall be the smaller value of the approved hedging quota for regular months and conversion benchmark value. The applicable conversion benchmark values of PTA and White Sugar are 10000 lots and 6000 lots, respectively.

On the trading days between the 16th calendar day and the last calendar day of the month preceding the delivery month, for non-FB members or clients whose hedging quota for nearby months on PTA and White Sugar has been approved, the applicable hedging quota shall be the greater value of the conversion quota and the approved hedging quota for nearby months; for those whose hedging quota for nearby months on PTA and White Sugar has not been approved, the applicable hedging quota shall be the conversion quota.

 

Zhengzhou Commodity Exchange

April 21, 2021      

 

Disclaimer: This English version may be used for reference only. If there is any discrepancy between the English version and the Chinese version, the Chinese version shall prevail.

 

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