Updated Price Limit Rules:
New Price limit rules:
First 10min of all newly listed futures:
Upper limit = Index price (1+5%)
Lower limit = Index price (1-5%)
Upper limit = Avg. premium/discount within last 10min + index price(1+3%)
Lower limit = Avg. premium/discount within last 10min + index price(1-3%)
Premium/discount = (Contract price - index price)
If the discount/premium calculated equals to 0, or deviates from the index price by 25%:
Upper limit=index price (1+25%)
Lower limit=index price (1-25%)
Open long or close short position: Order would be blocked if the order price sent is higher than the price limit,.
Open short or close long position: Order would be blocked if the order price sent is lower than the price limit.
The above rules also apply to the forced liquidation price. For forced buy-in (forced liquidation of short positions), if the forced liquidation price is higher than the maximum limit price, the system will take over all the user’s positions and will place the buying orders at the maximum limit price; for forced selling (forced liquidation of long positions), if the forced liquidation price is lower than the minimum limit price, the system will take over all positions and place the selling orders at minimum limit price.
When the forced liquidation orders are matched, the differences between the filled price and the forced liquidation price will be injected to the insurance fund. After settlement, the unfilled forced liquidation orders will be covered by the insurance fund or will be socialized with the profits made among all users of all futures markets.