苯乙烯期货一日一结算吗

Core Viewpoint - The implementation of a "daily settlement" system for styrene futures enhances risk control and provides a transparent price discovery mechanism in the market [2] Group 1: Daily Settlement System - The "daily settlement" system allows for daily net settlement of accounts, where profits and losses are calculated based on the closing price of the day [2] - If the margin in an investor's account falls below the maintenance level after settlement, they must replenish the margin before the next trading day to avoid forced liquidation [2] - The settlement price is determined by the weighted average price of the last hour's trading volume, effectively reducing end-of-day manipulation and aligning futures prices closer to spot supply and demand [2] Group 2: Financial Efficiency and Leverage - The daily settlement system translates daily floating profits and losses into actual fund changes, amplifying the leverage effect [2] - With a current margin requirement of approximately 7%, this corresponds to a leverage of 15 times, meaning a price fluctuation of 1 yuan/ton results in an immediate profit or loss of 5 yuan per contract [2] - Effective fund management during trading sessions is crucial due to the immediate impact of price movements on account balances [2] Group 3: Risk Control Measures - Styrene futures also implement additional risk control measures such as price limits, position limits, and large trader reporting, which work in conjunction with the daily settlement system [2] - When prices hit the limit or approach the delivery month, the exchange dynamically adjusts the margin requirements to further reduce the risk of default [2]