如何参与聚丙烯月均价期货交易

Core Viewpoint - The article outlines the standardized process for participating in polypropylene monthly average price futures trading, detailing the necessary steps, trading rules, and risk management measures. Group 1: Opening an Account - Participants must open an account through a futures company app or the "Futures Account Cloud" platform, requiring identification, a real-name bank card, and a handwritten signature photo, along with passing a risk assessment (C4 level or above) and video verification before submitting the application [1]. Group 2: Trading Rules - The trading unit for polypropylene monthly average price futures contracts is 5 tons per lot, with a minimum price fluctuation of 1 yuan per ton. Trading hours are set for day sessions from 9:00-11:30 and 13:30-15:00, and night sessions from 21:00-23:00. The first listed contracts are PP2602F, PP2603F, and PP2604F, with additional long-term contracts added after the last trading day of each month [1]. Group 3: Trading Instructions - Traders can select contracts through trading software and use limit orders or market orders to open long or short positions. Closing positions require a reverse operation [1]. Group 4: Margin and Fees - The basic margin ratio set by the exchange is approximately 7%, while futures companies typically charge 8%-10% (negotiable). The trading fee is 1 yuan per lot, with a reduced fee of 0.5 yuan per lot for hedging transactions. Delivery fees are currently waived until December 31, 2025 [1]. Group 5: Risk Control - The limit for a single contract trade is set at 10,000 lots, with a position limit of 1,000 lots starting from the 15th of the month prior to the contract month. Individual investors must close their positions before the delivery month [1]. Group 6: Considerations - The polypropylene monthly average price futures are settled based on monthly average prices, suitable for hedging against price volatility risks. However, liquidity may be lower than that of standard futures, and traders should be aware of market fluctuations and margin call risks. It is recommended to familiarize oneself with the rules through simulated trading before engaging in real transactions [2].