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ReturnCircular dated on Nov. 7,2005 regarding adjustment of Trading Margin requirements
Author：
admin
PublishDate：
2005-11-07 16:43:00
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497
Jiaxing China Cocoon& Silk Exchange Clearing Co., Ltd.
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Circular to all members
Date: Nov. 7,2005
Subject: Regarding adjustment of Trading Margin requirements for March’05 Dried Cocoon
To promote the trading risk management and protect legal rights of each trading side, the company shall adjust the method and ratio of trading margin as follows in accordance with Article 15. of Trial Implementing Regulations on Contract Transaction Clearing of Jiaxing China Cocoon & Silk Exchange Clearing Co., Ltd.:
1.Treading margin of electronic contracts of March’06 Dried Cocoon traded before Nov. 7 shall be 5 percent of total contract value as required before. All contracts traded from Nov. 7 of a member shall be deemed as fresh positions, and the Clearing Company shall, with effect from Nov.14, 2005, collect trading margins for all outstanding positions in accordance with the following standard set forth for the corresponding level.
Outstanding position numbers(Hands) Trading Margin
0-20 5% of the contract value
21-100 20% of the contract value
≥100 40% of the contract value
2.Clearing Co. shall in its discretion adjust the margin requirements for each commodity in accordance with the market conditions and the delivery capability of the Exchange after the release of the circular hereof.
All members and their customers are hereby informed to keep suitable fund.
-----------------------------------------------------
Circular to all members
Date: Nov. 7,2005
Subject: Regarding adjustment of Trading Margin requirements for March’05 Dried Cocoon
To promote the trading risk management and protect legal rights of each trading side, the company shall adjust the method and ratio of trading margin as follows in accordance with Article 15. of Trial Implementing Regulations on Contract Transaction Clearing of Jiaxing China Cocoon & Silk Exchange Clearing Co., Ltd.:
1.Treading margin of electronic contracts of March’06 Dried Cocoon traded before Nov. 7 shall be 5 percent of total contract value as required before. All contracts traded from Nov. 7 of a member shall be deemed as fresh positions, and the Clearing Company shall, with effect from Nov.14, 2005, collect trading margins for all outstanding positions in accordance with the following standard set forth for the corresponding level.
Outstanding position numbers(Hands) Trading Margin
0-20 5% of the contract value
21-100 20% of the contract value
≥100 40% of the contract value
2.Clearing Co. shall in its discretion adjust the margin requirements for each commodity in accordance with the market conditions and the delivery capability of the Exchange after the release of the circular hereof.
All members and their customers are hereby informed to keep suitable fund.
