时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | IH2603 | 震荡 | 震荡 | 偏强 | 震荡整理 | 估值端提升较快，股指震荡整固 需求升温 | 备注： 投资咨询业务资格：证监许可【2011】1778 号 期货研究报告 宝城期货股指期货早报（2026 年 2 月 3 日） ◼ 品种观点参考—金融期货股指板块 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为弱势，跌幅 0~1%为偏弱，涨幅 0~1%为偏强，涨幅大于 1%为强势。 3.偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—金融期货股指板块 品种：IF、IH、IC、IM 日内观点：偏强 中期观点：震荡 参考观点：震荡整理 核心逻辑：昨日各股指均单边下跌。沪深京三市成交额 26066 亿元，较上日缩量 2558 亿元。板块方 面，由于大宗商品在亚太时段被大幅抛售，金属、石油天 ...

Report Information - Report Title: Stock Index Futures Data Daily Report [1] - Report Date: January 30, 2026 [2] IM Futures Market Overview - The closing price of CSI 1000 was 8,254.86 points, down 0.93%. The main contract of IM fell 0.84% to close at 8,260.6 points. The total trading volume of the four IM contracts was 275,842 lots, an increase of 27,861 lots from the previous day, and the total open interest was 408,840 lots, a decrease of 2,755 lots from the previous day [4]. - The main contract of IM had a premium of 5.74 points, up 8.95 points from the previous day, and the annualized basis rate was 0.51%. The dividend impacts of the four IM contracts were 0.29 points, 0.29 points, 0.29 points, and 68.05 points respectively [5]. Position Analysis - The trading volume, open interest, and changes of major seats in IM2602, IM2603, IM2606, and IM2609 contracts were detailed, including information on top 5, top 10, and top 20 seats [15][17][19] IF Futures Market Overview - The closing price of CSI 300 was 4,706.34 points, down 1.00%. The main contract of IF fell 1.32% to close at 4,711 points. The total trading volume of the four IF contracts was 179,201 lots, an increase of 19,397 lots from the previous day, and the total open interest was 332,644 lots, an increase of 9,087 lots from the previous day [20][21]. - The main contract of IF had a premium of 4.66 points, down 25.47 points from the previous day, and the annualized basis rate was 0.72%. The dividend impacts of the four IF contracts were 3.69 points, 3.72 points, 3.72 points, and 89.63 points respectively [21]. Position Analysis - The trading volume, open interest, and changes of major seats in IF2602, IF2603, IF2606, and IF2609 contracts were detailed, including information on top 5, top 10, and top 20 seats [34][36][38] IC Futures Market Overview - The closing price of CSI 500 was 8,370.52 points, down 1.73%. The main contract of IC fell 2.07% to close at 8,362.4 points. The total trading volume of the four IC contracts was 248,185 lots, an increase of 43,907 lots from the previous day, and the total open interest was 349,459 lots, a decrease of 4,373 lots from the previous day [40][41]. - The main contract of IC had a discount of 8.12 points, down 7.88 points from the previous day, and the annualized basis rate was -0.71%. The dividend impacts of the four IC contracts were 0.44 points, 0.44 points, 0.44 points, and 98.36 points respectively [41]. Position Analysis - The trading volume, open interest, and changes of major seats in IC2602, IC2603, IC2606, and IC2609 contracts were detailed, including information on top 5, top 10, and top 20 seats [53][55][57] IH Futures Market Overview - The closing price of SSE 50 was 3,066.50 points, down 1.43%. The main contract of IH fell 1.64% to close at 3,074 points. The total trading volume of the four IH contracts was 77,049 lots, a decrease of 8,823 lots from the previous day, and the total open interest was 122,366 lots, a decrease of 5,863 lots from the previous day [59]. - The main contract of IH had a premium of 7.5 points, down 11.99 points from the previous day, and the annualized basis rate was 1.78%. The dividend impacts of the four IH contracts were 4.95 points, 4.95 points, 4.95 points, and 71.63 points respectively [60]. Position Analysis - The trading volume, open interest, and changes of major seats in IH2602, IH2603, and IH2606 contracts were detailed, including information on top 5, top 10, and top 20 seats [73][76][78]

投资咨询业务资格：证监许可【2011】1778 号 期货研究报告 宝城期货股指期货早报（2026 年 1 月 30 日） ◼ 品种观点参考—金融期货股指板块 时间周期说明：短期为一周以内、中期为两周至一月 品种：IF、IH、IC、IM 日内观点：偏强 中期观点：震荡 参考观点：震荡整理 核心逻辑：昨日各股指震荡分化，IH 涨幅居前，IC 与 IM 冲高回落。沪深京三市成交额 32594 亿元， 较上日放量 2671 亿元。由于监管层希望控风险的预期较为明确，以及本轮股票反弹的涨幅主要由估 值端贡献，短期内股指上行驱动有所减弱。前期涨幅较大的 IM 与 IC 震荡整固的需求较强，而 IH 的 防御属性受到资金关注。中长期来看，政策面利好预期以及增量资金持续净流入股市的趋势构成股指 上行的主要支撑力量。不过短期内资金面在追涨与止盈之间出现分歧，股指陷入震荡整理的可能性较 大。总的来说，短期内股指震荡整理为主。 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | IH2603 | 震荡 | 震荡 | 偏强 | 震 ...

投资咨询业务资格：证监许可【2011】1778 号 宝城期货股指期货早报（2026 年 1 月 29 日） ◼ 品种观点参考—金融期货股指板块 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | IH2603 | 震荡 | 震荡 | 偏强 | 震荡整理 | 估值端提升较快，股指震荡整固 需求升温 | 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为弱势，跌幅 0~1%为偏弱，涨幅 0~1%为偏强，涨幅大于 1%为强势。 3.偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—金融期货股指板块 品种：IF、IH、IC、IM 日内观点：偏强 中期观点：震荡 参考观点：震荡整理 核心逻辑：昨日各股指均震荡整理。沪深京三市成交额 29923 亿元，较上日放量 708 亿元。目前股 市处于震荡整理行情，资金面在追涨与止盈之间出现分歧，日内反复波动 ...

Report Information - Report Title: Stock Index Futures Data Daily Report [1] - Report Date: January 28, 2026 [2] IM Futures Market Summary - The underlying index, CSI 1000, closed at 8399.79, up 0.21%. The IM main contract rose 0.16% to close at 8377.8 points [4]. - The total trading volume of the four IM contracts was 194,080 lots, down 68,320 lots from the previous day. The total open interest was 382,766 lots, down 15,637 lots from the previous day [5]. - The main contract was at a discount of 21.99 points to the spot, up 2.96 points from the previous day, with an annualized basis rate of -1.84% [5]. Contract - Specific Data | Contract | Closing Price | Change | Volume | Volume Change | Turnover | Turnover Change | Open Interest | Open Interest Change | Margin | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | CSI 1000 | 8399.79 | 0.21% | 34,966 | -4% | 627.4 billion | 0% | - | - | - | | IM2602 | 8407.40 | 0.22% | 33,363 | -24% | 5.59 billion | -23% | 56,743 | -4,390 | 1.14 billion | | IM2603 | 8377.80 | 0.16% | 114,744 | -28% | 19.16 billion | -27% | 180,338 | -11,585 | 3.63 billion | | IM2606 | 8242.60 | 0.31% | 31,617 | -26% | 5.19 billion | -25% | 107,190 | -2,172 | 2.12 billion | | IM2609 | 8075.00 | 0.30% | 14,356 | -17% | 2.31 billion | -16% | 38,495 | 2,510 | 750 million | [4] Main Seats Data - For different contracts (IM2602, IM2603, etc.), detailed data on the top - ranking members in terms of trading volume, long positions, and short positions, as well as their changes from the previous day, are provided [16][18][20] IF Futures Market Summary - The underlying index, CSI 300, closed at 4717.99, up 0.26%. The IF main contract rose 0.07% to close at 4732.8 points [21]. - The total trading volume of the four IF contracts was 142,902 lots, down 62 lots from the previous day. The total open interest was 325,948 lots, up 15,622 lots from the previous day [22]. - The main contract was at a premium of 14.81 points to the spot, up 2.3 points from the previous day, with an annualized basis rate of 2.2% [22]. Contract - Specific Data | Contract | Closing Price | Change | Volume | Volume Change | Turnover | Turnover Change | Open Interest | Open Interest Change | Margin | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | CSI 300 | 4717.99 | 0.26% | 38,226 | - | 82.94 billion | - | - | - | - | | IF2602 | 4727.80 | 0.08% | 32,633 | -23% | - | - | 43,478 | - | 700 million | | IF2603 | 4732.80 | 0.07% | 84,387 | -4% | 11.98 billion | -3% | 185,840 | 7,628 | 3.17 billion | | IF2606 | 4716.80 | 0.12% | 18,810 | -8% | 2.66 billion | -8% | 75,464 | 1,638 | 1.28 billion | | IF2609 | 4670.20 | 0.08% | 7,072 | -16% | 900 million | - | 21,166 | 2 | 360 million | [21] Main Seats Data - For different contracts (IF2602, IF2603, etc.), detailed data on the top - ranking members in terms of trading volume, long positions, and short positions, as well as their changes from the previous day, are provided [33][35][36] IC Futures Market Summary - The underlying index, CSI 500, closed at 8601.16, up 0.61%. The IC main contract rose 0.68% to close at 8622 points [38]. - The total trading volume of the four IC contracts was 170,659 lots, down 40,713 lots from the previous day. The total open interest was 342,398 lots, down 904 lots from the previous day [39]. - The main contract was at a premium of 20.84 points to the spot, up 22.17 points from the previous day, with an annualized basis rate of 1.7% [39]. Contract - Specific Data | Contract | Closing Price | Change | Volume | Volume Change | Turnover | Turnover Change | Open Interest | Open Interest Change | Margin | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | CSI 500 | 8601.16 | 0.61% | 31,177 | 3% | 61.27 billion | 0% | - | - | - | | IC2602 | 8623.20 | 0.66% | 28,560 | -15% | 4.9 billion | -14% | 45,306 | -2,648 | 940 million | | IC2603 | 8622.00 | 0.68% | 94,115 | -23% | 16.15 billion | -22% | 167,295 | -5,924 | 3.46 billion | | IC2606 | 8574.80 | 1.04% | 37,044 | -11% | 6.31 billion | -9% | 98,677 | 5,130 | 2.03 billion | | IC2609 | 8469.00 | 1.08% | 10,940 | -23% | 1.84 billion | -21% | 31,120 | 2,538 | 630 million | [38] Main Seats Data - For different contracts (IC2602, IC2603, etc.), detailed data on the top - ranking members in terms of trading volume, long positions, and short positions, as well as their changes from the previous day, are provided [51][53][55] IH Futures Market Summary - The underlying index, SSE 50, closed at 3060.56, up 0.27%. The IH main contract fell 0.01% to close at 3069.8 points [57]. - The total trading volume of the four IH contracts was 63,381 lots, down 4,488 lots from the previous day. The total open interest was 118,402 lots, up 3,905 lots from the previous day [57]. - The main contract was at a premium of 9.24 points to the spot, down 2.37 points from the previous day, with an annualized basis rate of 2.11% [58]. Contract - Specific Data | Contract | Closing Price | Change | Volume | Volume Change | Turnover | Turnover Change | Open Interest | Open Interest Change | Margin | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | SSE 50 | 3060.56 | 0.27% | 9,637 | 28% | 25.26 billion | 25% | - | - | - | | IH2602 | 3065.60 | -0.03% | 14,236 | 5% | 1.31 billion | 5% | 17,477 | 942 | 190 million | | IH2603 | 3069.80 | -0.01% | 38,337 | -7% | 3.53 billion | -7% | 67,766 | 1,717 | 750 million | | IH2606 | 3070.00 | -0.13% | 7,689 | -12% | 710 million | -12% | 25,544 | 1,019 | 280 million | | IH2609 | 3046.00 | -0.09% | 3,119 | -28% | 290 million | -28% | 7,615 | 227 | 80 million | [57] Main Seats Data - For different contracts (IH2602, IH2603, etc.), detailed data on the top - ranking members in terms of trading volume, long positions, and short positions, as well as their changes from the previous day, are provided [69][71][73]

投资咨询业务资格：证监许可【2011】1778 号 宝城期货股指期货早报（2026 年 1 月 28 日） ◼ 品种观点参考—金融期货股指板块 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | IH2603 | 震荡 | 震荡 | 偏弱 | 震荡整理 | 估值端提升较快，股指震荡整固 需求升温 | 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为弱势，跌幅 0~1%为偏弱，涨幅 0~1%为偏强，涨幅大于 1%为强势。 3.偏强/偏弱只针对日内观点，短期和中期不做区分。 期货研究报告 ◼ 主要品种价格行情驱动逻辑—金融期货股指板块 品种：IF、IH、IC、IM 日内观点：偏弱 中期观点：震荡 参考观点：震荡整理 核心逻辑：昨日各股指均震荡整理。沪深京三市成交额 29215 亿元，较上日缩量 3592 亿元。中长期 来看，政策面利好预期以及增量资金持续净流入股市的 ...

1. Report Information - Report Title: Stock Index Futures Data Daily Report [1] - Date: January 26, 2026 [2] 2. IM (CSI 1000 Index Futures) 2.1 Daily Quotes - The CSI 1000 index closed at 8365.43, down 1.24%. The total trading volume of the four IM contracts was 277,160 lots, an increase of 54,174 lots from the previous day, and the total open interest was 394,502 lots, a decrease of 1,501 lots [4][5]. - The main contract (IM2603) fell 2.24% to close at 8289.2 points, with a premium of -76.23 points, a decrease of 122.09 points from the previous day, and the annualized basis rate was -6.22% [4][5]. 2.2 Key Seats - The top five seats in terms of trading volume were mainly composed of CITIC Futures, Guotai Junan, etc. The top five seats in terms of long positions were mainly Guotai Junan and CITIC Futures, and the top five seats in terms of short positions were mainly CITIC Futures and Guotai Junan [16]. 3. IF (CSI 300 Index Futures) 3.1 Daily Quotes - The CSI 300 index closed at 4706.96, up 0.10%. The total trading volume of the four IF contracts was 189,549 lots, an increase of 49,067 lots from the previous day, and the total open interest was 328,464 lots, an increase of 28,734 lots [21][22]. - The main contract (IF2603) rose 0.11% to close at 4719.4 points, with a premium of 12.44 points, an increase of 5.74 points from the previous day, and the annualized basis rate was 1.78% [21][22]. 3.2 Key Seats - The top five seats in terms of trading volume were mainly CITIC Futures and Guotai Junan. The top five seats in terms of long positions were mainly Guotai Junan and CITIC Futures, and the top five seats in terms of short positions were mainly CITIC Futures and Guotai Junan [35]. 4. IC (CSI 500 Index Futures) 4.1 Daily Quotes - The CSI 500 index closed at 8506.69, down 0.97%. The total trading volume of the four IC contracts was 226,677 lots, an increase of 50,384 lots from the previous day, and the total open interest was 344,006 lots, an increase of 2,781 lots [40][41]. - The main contract (IC2603) fell 1.72% to close at 8470 points, with a premium of -36.69 points, a decrease of 104.72 points from the previous day, and the annualized basis rate was -2.93% [40][41]. 4.2 Key Seats - The top five seats in terms of trading volume were mainly CITIC Futures and Guotai Junan. The top five seats in terms of long positions were mainly Guotai Junan and CITIC Futures, and the top five seats in terms of short positions were mainly CITIC Futures and Guotai Junan [53]. 5. IH (SSE 50 Index Futures) 5.1 Daily Quotes - The SSE 50 index closed at 3049.59, up 0.57%. The total trading volume of the four IH contracts was 84,627 lots, an increase of 22,590 lots from the previous day, and the total open interest was 118,624 lots, an increase of 9,853 lots [59]. - The main contract (IH2603) rose 0.52% to close at 3058.2 points, with a premium of 8.61 points, an increase of 3 points from the previous day, and the annualized basis rate was 1.9% [59][60]. 5.2 Key Seats - The top five seats in terms of trading volume were mainly Guotai Junan and CITIC Futures. The top five seats in terms of long positions were mainly Guotai Junan and CITIC Futures, and the top five seats in terms of short positions were mainly CITIC Futures and Guotai Junan [73].

期货研究报告 宝城期货股指期货早报（2026 年 1 月 23 日） ◼ 品种观点参考—金融期货股指板块 投资咨询业务资格：证监许可【2011】1778 号 时间周期说明：短期为一周以内、中期为两周至一月 品种：IF、IH、IC、IM 日内观点：偏弱 中期观点：震荡 参考观点：震荡整理 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | IH2603 | 震荡 | 震荡 | 偏弱 | 震荡整理 | 乐观情绪有所降温，震荡整固需 求仍存 | 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为弱势，跌幅 0~1%为偏弱，涨幅 0~1%为偏强，涨幅大于 1%为强势。 3.偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—金融期货股指板块 核心逻辑：昨日各股指均窄幅震荡整理。股市全市场成交额 27164 亿元，较上日放量 928 亿元。目 前股市成交金额回落至 3 万亿元下方，表明市场情绪有 ...

1. Report Title and Date - The report is titled "Stock Index Futures Data Daily Report" and dated January 21, 2026 [1][2] 2. IM Futures 2.1 Daily Quotes - The closing price of CSI 1000 was 8,247.68, up 0.79%. The total trading volume of the four IM contracts was 214,526 lots, down 31,314 lots from the previous day. The total open interest was 381,688 lots, down 6,771 lots from the previous day [4][5] - The main contract of IM rose 1.73% to close at 8,231 points. The main contract was at a discount of 16.68 points, up 45.27 points from the previous day, and the annualized basis rate was -1.25% [4][5] 2.2 Main Seats - In IM2602, the top five seats in terms of trading volume were CITIC Futures (on behalf of clients), Guotai Junan (on behalf of clients), Orient Futures (on behalf of clients), Haitong Futures (on behalf of clients), and Zhongtai Futures (on behalf of clients) [17] - In IM2603, the top five seats in terms of long positions were Guotai Junan (on behalf of clients), CITIC Futures (on behalf of clients), Haitong Futures (on behalf of clients), Orient Futures (on behalf of clients), and Huawen Futures (on behalf of clients) [21] 3. IF Futures 3.1 Daily Quotes - The closing price of CSI 300 was 4,723.07, up 0.09%. The total trading volume of the four IF contracts was 120,330 lots, down 9,379 lots from the previous day. The total open interest was 286,813 lots, down 6,447 lots from the previous day [22][23] - The main contract of IF rose 0.41% to close at 4,722.8 points. The main contract was at a discount of 0.27 points, up 10.01 points from the previous day, and the annualized basis rate was -0.04% [22][23] 3.2 Main Seats - In IF2602, the top five seats in terms of trading volume were Guotai Junan (on behalf of clients), CITIC Futures (on behalf of clients), Orient Futures (on behalf of clients), Haitong Futures (on behalf of clients), and Galaxy Futures (on behalf of clients) [36] - In IF2603, the top five seats in terms of long positions were Guotai Junan (on behalf of clients), CITIC Futures (on behalf of clients), Haitong Futures (on behalf of clients), Orient Futures (on behalf of clients), and Huawen Futures (on behalf of clients) [39] 4. IC Futures 4.1 Daily Quotes - The closing price of CSI 500 was 8,340.11, up 1.12%. The total trading volume of the four IC contracts was 171,870 lots, down 41,699 lots from the previous day. The total open interest was 330,051 lots, down 8,110 lots from the previous day [41][42] - The main contract of IC rose 1.89% to close at 8,371 points. The main contract was at a premium of 30.89 points, up 29.89 points from the previous day, and the annualized basis rate was 2.28% [41][42] 4.2 Main Seats - In IC2602, the top five seats in terms of trading volume were CITIC Futures (on behalf of clients), Guotai Junan (on behalf of clients), Haitong Futures (on behalf of clients), Orient Futures (on behalf of clients), and Zhongtai Futures (on behalf of clients) [54] - In IC2603, the top five seats in terms of long positions were Guotai Junan (on behalf of clients), CITIC Futures (on behalf of clients), Haitong Futures (on behalf of clients), Orient Futures (on behalf of clients), and Huawen Futures (on behalf of clients) [58] 5. IH Futures 5.1 Daily Quotes - The closing price of SSE 50 was 3,067.18, down 0.11%. The total trading volume of the four IH contracts was 54,491 lots, up 5,763 lots from the previous day. The total open interest was 96,124 lots, up 4,576 lots from the previous day [60] - The main contract of IH fell 0.01% to close at 3,073.6 points. The main contract was at a premium of 6.42 points, up 1.67 points from the previous day, and the annualized basis rate was 1.29% [60][61] 5.2 Main Seats - In IH2602, the top five seats in terms of trading volume were Guotai Junan (on behalf of clients), CITIC Futures (on behalf of clients), Haitong Futures (on behalf of clients), Orient Futures (on behalf of clients), and Galaxy Futures (on behalf of clients) [74] - In IH2603, the top five seats in terms of long positions were Guotai Junan (on behalf of clients), CITIC Futures (on behalf of clients), Haitong Futures (on behalf of clients), Orient Futures (on behalf of clients), and Huawen Futures (on behalf of clients) [76]

1. Report Information - Report Title: Stock Index Futures Data Daily Report [1] - Date: January 19, 2026 [2] 2. IM Futures 2.1 Daily Quotes - The closing price of CSI 1000 was 8,265.65, up 0.40%. The trading volume was 32,669 lots, down 7%, and the trading value was 58.17 billion yuan, down 8% [4]. - The main contract IM2603 rose 0.26% to close at 8,186.6 points. The trading volume was 123,630 lots, down 12%, and the trading value was 20.31 billion yuan, down 12%. The open interest was 195,201 lots, down 5,800 lots [4]. 2.2 Overall Trading and Position - The total trading volume of the four IM contracts was 206,367 lots, down 11,966 lots from the previous day. The total open interest was 380,256 lots, up 1,234 lots [5]. 2.3 Basis and Annualized Basis Rate - The main contract was at a discount of 79.05 points to the spot, 25.52 points lower than the previous day. The annualized basis rate was -5.78% [5]. 2.4 Main Seats' Positions - In IM2602, the top five seats in terms of trading volume were led by CITIC Futures (on behalf of clients) with 41,544 lots, down 10,429 lots. In terms of long positions, Guotai Junan (on behalf of clients) had the most with 26,627 lots, down 554 lots. For short positions, CITIC Futures (on behalf of clients) led with 34,089 lots, down 202 lots [15]. 3. IF Futures 3.1 Daily Quotes - The closing price of CSI 300 was 4,734.46, up 0.05%. The trading volume was 26,761 lots, down 18%, and the trading value was 65.51 billion yuan, down 17% [20]. - The main contract IF2603 rose 0.2% to close at 4,728.6 points. The trading volume was 73,045 lots, down 18%, and the trading value was 10.37 billion yuan, down 19%. The open interest was 179,134 lots, down 8,290 lots [20]. 3.2 Overall Trading and Position - The total trading volume of the four IF contracts was 120,242 lots, down 18,138 lots from the previous day. The total open interest was 290,666 lots, down 4,289 lots [21]. 3.3 Basis and Annualized Basis Rate - The main contract was at a discount of 5.86 points to the spot, 2.81 points higher than the previous day. The annualized basis rate was -0.74% [21]. 3.4 Main Seats' Positions - In IF2602, the top five seats in terms of trading volume were led by CITIC Futures (on behalf of clients) with 8,889 lots, down 1,576 lots. In terms of long positions, Guotai Junan (on behalf of clients) had the most with 7,957 lots, down 536 lots. For short positions, CITIC Futures (on behalf of clients) led with 7,649 lots, down 402 lots [34]. 4. IC Futures 4.1 Daily Quotes - The closing price of CSI 500 was 8,287.95, up 0.67%. The trading volume was 26,150 lots, down 7%, and the trading value was 56.09 billion yuan, down 9% [39]. - The main contract IC2603 rose 0.82% to close at 8,266 points. The trading volume was 98,224 lots, down 4%, and the trading value was 16.25 billion yuan, down 4%. The open interest was 177,228 lots, up 2,736 lots [39]. 4.2 Overall Trading and Position - The total trading volume of the four IC contracts was 166,526 lots, down 3,994 lots from the previous day. The total open interest was 319,424 lots, up 6,196 lots [40]. 4.3 Basis and Annualized Basis Rate - The main contract was at a discount of 21.95 points to the spot, 0.32 points higher than the previous day. The annualized basis rate was -1.59% [40]. 4.4 Main Seats' Positions - In IC2602, the top five seats in terms of trading volume were led by CITIC Futures (on behalf of clients) with 36,529 lots, down 4,559 lots. In terms of long positions, Guotai Junan (on behalf of clients) had the most with 24,786 lots, up 707 lots. For short positions, CITIC Futures (on behalf of clients) led with 27,507 lots, up 970 lots [52]. 5. IH Futures 5.1 Daily Quotes - The closing price of SSE 50 was 3,075.94, down 0.12%. The trading volume was 5,587 lots, down 23%, and the trading value was 16.62 billion yuan, down 17% [58]. - The main contract IH2603 fell 0.11% to close at 3,077.6 points. The trading volume was 30,016 lots, down 24%, and the trading value was 2.78 billion yuan, down 25%. The open interest was 57,249 lots, down 1,653 lots [58]. 5.2 Overall Trading and Position - The total trading volume of the four IH contracts was 46,533 lots, down 11,922 lots from the previous day. The total open interest was 91,413 lots, down 1,610 lots [58]. 5.3 Basis and Annualized Basis Rate - The main contract was at a premium of 1.66 points to the spot, 2.98 points lower than the previous day. The annualized basis rate was 0.32% [59]. 5.4 Main Seats' Positions - In IH2602, the top five seats in terms of trading volume were led by CITIC Futures (on behalf of clients) with 10,010 lots, down 2,507 lots. In terms of long positions, CITIC Futures (on behalf of clients) had the most with 6,547 lots, down 257 lots. For short positions, GF Futures (on behalf of clients) led with 10,937 lots, up 181 lots [72].