The hottest natural rubber futures ranked among th

Natural rubber futures are among the "big contracts"

the last stock exchange officially released the revised natural rubber futures contract and rules yesterday, which stipulates that from the ru1208 contract, the trading unit of Tianjiao futures will double, becoming another "big contract" after fuel oil, lead and other varieties

the main changes in the Tianjiao contract and rule revision can be summarized as "one expansion and two reductions". "One expansion" refers to the expansion of contract trading units, from the previous 5 tons/hand to 10 tons/hand. "Two reductions" refers to the reduction of the position limit and transaction handling fee of a single natural person account respectively. Specifically, from the previous proportional position limit, the position of a single natural person shall not exceed 5000 tons (converted according to the new contract, it shall not exceed 500 hands). In terms of service charge, it was also reduced from 1.05 million in the past to 1.05 million

at the same time, on the basis of the positive effects of the registration and management system of delivery commodities on non-ferrous metal varieties, the exchange introduced the system into Tianjiao futures in the previous period. At present, the last phase exchange has approved six brands of natural rubber (scrwf) such as the "Baodao" brand of Hainan Natural Rubber Industry Group Co., Ltd. and the "Yunxiang" brand of Yunnan Agricultural Reclamation Group Co., Ltd. to register as delivery brands. In addition, the exchange also revised the regulations of natural rubber hedging related industries to move the aperture to the center of vision) and divided the hedging trading position of Tianjiao futures into general month hedging position and hedging trading position near the delivery month, so as to facilitate industrial customers to take advantage of futures hedging. The last stock exchange also determined the settlement price of Tianjiao contract as the weighted average price of the transaction price of the last five trading days of the contract according to the trading volume

in order to ensure the smooth implementation of the change of Tianjiao futures contract and the revision of relevant rules, the last period exchange also arranged a transition period between the old and new contracts, stipulating that in addition to the brand registration and brand delivery, the fastening of the following parts should be checked frequently: the natural rubber futures contract and the revision of relevant implementation rules have been implemented since the ru1208 contract

in the modification of the Tianjiao contract and rules, the measures to expand trading units and reduce the limit of speculative positions in order to improve the safety of food, extend the shelf life and minimize the use of chemical preservatives have attracted much attention. Zhao Zhong, general manager of China International Futures (blog, Weibo) industry center, said that large contracts and position restrictions have little impact on hedging transactions of industrial customers, and the impact on speculative transactions remains to be seen. Liu Bin of China Securities Futures believes that the Tianjiao futures contract unit has been expanded from 5 tons to 10 tons. Based on the current margin of 13% of the price of 33000 yuan, each hand requires 42900 yuan, slightly higher than the current level of Shanghai copper, but slightly lower than the level of Shanghai lead; In terms of trading volume, in fact, those who buy 10 hands can only buy 5 hands, which will not have a great impact on investors with a capital of more than 50000 yuan, and the capital threshold of 50000 yuan is not high, so it is expected that the impact on the liquidity of Tianjiao market will not be too great

the reduction of the handling rate of Tianjiao futures has received positive comments from market participants. Tourism culture is complementary. Mr. Jiang, the investor, told that although the position restriction measures were stricter than before, it had no impact on ordinary investors with small amount of funds, and the reduction of handling charges was really good

another important content of this revision is to change the "localization management" implemented by Tianjiao delivery in the past to "brand registration and brand delivery management". Lin Tao, deputy general manager of the marketing department of Hainan Natural Rubber Industry Group Co., Ltd., said that the implementation of brand delivery puts forward higher requirements for the standardized production and management of natural rubber. The brand certification system not only has strict requirements for finished products, but also has regulations on production process and production capacity. It also introduces a third-party quality supervision mechanism, which is conducive to continue to improve the product quality of enterprises and guide the adjustment of product structure of the company

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