来源：市场资讯 （来源：山金期货） 尊敬的客户： 中国证监会已同意上海期货交易所（以下简称上期所）胶版印刷纸期货及期权注册。根据上期所相关规 则，现将有关事项通知如下： 一、上市时间 胶版印刷纸期权自2025年9月10日（周三）晚上21:00起上市交易，当日20:55-21:00集合竞价，21:00开 盘。 二、交易时间 每周一至周五，9:00-10:15、10:30-11:30和13:30-15:00。连续交易时间为每周一至周五21:00-23:00。法 定节假日前第一个工作日（不包含周六和周日）的连续交易时间段不进行交易。 胶版印刷纸期权合约中，合约月份涉及的标的期货持仓量阈值为5000手（单边）。 四、挂牌基准价 由上期所在上市前一交易日公布。 计算公式为二叉树期权定价模型，其中无风险利率取央行一年期存款利率，波动率以胶版印刷纸现货价 格90日历史波动率为基础进行确定。 五、每次最大下单数量 100手。 六、行权与履约 三、挂牌合约月份 胶版印刷纸期权首日挂牌OP2601、OP2602对应的期权合约。 九、合约询价 非期货公司会员和客户可以在所有已挂牌期权合约上向做市商询价。询价请求应当指明合约代码，对 ...

Core Viewpoint - The Shanghai Futures Exchange has received approval from the China Securities Regulatory Commission to launch trading of casting aluminum alloy futures and options, with the options set to begin trading on June 10, 2025 [1]. Group 1: Listing Details - The casting aluminum alloy options will start trading at 21:00 on June 10, 2025, with a pre-opening auction from 20:55 to 21:00 [1]. - The trading hours will be Monday to Friday from 9:00 to 10:15, 10:30 to 11:30, and 13:30 to 15:00, with continuous trading from 21:00 to 01:00 the next day [2]. Group 2: Contract Specifications - The first listed options contracts will be AD2511 and AD2512, with a minimum holding threshold of 10,000 contracts for the underlying futures [3]. - The benchmark price for the options will be announced by the exchange on the trading day prior to listing, calculated using a binomial option pricing model [4]. Group 3: Trading Regulations - The maximum order size per transaction is set at 100 contracts [5]. - The options will be American-style, allowing for exercise at any time before expiration [6]. Group 4: Position Limits and Management - Position limits for options and futures contracts will be managed separately, with specific limits for non-futures company members and clients [7]. - The options and futures will share the approved hedging trading positions [8]. Group 5: Fees and Charges - The trading fee is set at 10 yuan per contract, with a temporary waiver for closing positions until December 31, 2025, for hedging transactions [9]. - The exercise fee is also 10 yuan per contract, with specific fees for hedging transactions outlined [10]. Group 6: Inquiry and Trading Permissions - Non-futures company members and clients can inquire about prices on all listed options contracts, with specific conditions on the timing of inquiries [12]. - Futures company members must adhere to the suitability management requirements for traders when applying for options trading permissions [13].