大连商品交易所就焦煤期货期权合约公开征求意见

Core Viewpoint - Dalian Commodity Exchange is seeking public opinions on the coal futures options contract, with a deadline set for September 24, 2023, to enhance risk management tools for the steel industry [1] Group 1: Market Context - China is the world's largest producer and consumer of coking coal, supporting an annual crude steel output exceeding 1 billion tons [1] - Recent fluctuations in coking coal prices have heightened the demand for refined risk management tools among industry players [1] Group 2: Contract Details - The proposed coking coal options will align with existing options contracts in terms of trading units, pricing units, price limits, contract months, and trading hours [2] - The options will feature an American exercise style, with strike prices covering a range corresponding to 1.5 times the price limit of the underlying futures contract [2] - Specific design elements include a tiered strike price interval and a minimum tick size set at 0.1 yuan/ton, which is one-fifth of the minimum tick size for the underlying futures [2] Group 3: Market Impact - The introduction of coking coal options will enhance the product offerings in China's commodity options market, complementing existing futures and options for coking coal, coke, and iron ore [3] - This development aims to create a more comprehensive risk management solution for enterprises within the steel industry [3]