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Test of new futures trading in Shanghai
March 18, 2009, Wednesday
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Print Edition
Print Edition
SHANGHAI Futures Exchange will begin testing a system for reinforcement-bar and wire-rod futures trading today as it moves toward expanding the range of contracts it offers.
The test will involve simulations without any real trade taking place, according to a statement posted yesterday on the exchange's Website. It didn't say how long the tests will last. The exchange will set a daily fluctuation limit of 5 percent. The deposit for traders will be 7 percent of the contracts and the trading fee will be no more than 0.02 percent of the contract price.
The test will involve simulations without any real trade taking place, according to a statement posted yesterday on the exchange's Website. It didn't say how long the tests will last. The exchange will set a daily fluctuation limit of 5 percent. The deposit for traders will be 7 percent of the contracts and the trading fee will be no more than 0.02 percent of the contract price.
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