Ethylene glycol and styrene options are listed today
The reporter learned from the Dalian Commodity Exchange that ethylene glycol options and styrene options, which have attracted much market attention, were listed for trading on the Dalian Commodity Exchange today.
According to notification from Dalian Commodity Exchange, ethylene glycol options and styrene options have been listed for trading on May 15. On the day of listing, there will be a call auction from 8:55 to 9:00, and the market will open at 9:00. At the same time, at 21:00 today, ethylene glycol options and styrene options started night trading. After that, ethylene glycol options and styrene options trade at the same time as the underlying futures.
The contract months of ethylene glycol options and styrene options listed on the first day started at EG2307 and EB2307 respectively. The ethylene glycol options were listed on the first day for 10 contract months, namely EG2307, EG2308, EG2309, EG2310, EG2311, EG2312, EG2401, EG2402, EG2403, and EG2404; the styrene options were listed on the first day for 10 contract months, respectively, EB2307 and EB2308. , EB2309, EB2310, EB2311, EB2312, EB2401, EB2402, EB2403, EB2404.
In terms of specific benchmark prices, the highest listed price is EG2309-C-3850, with a benchmark price of 501.5 yuan/ton, and the lowest price is EG2309-P-3850, with a benchmark price of 10 yuan/ton.
According to the relevant person in charge of DCE, the design ideas of ethylene glycol options and styrene option contracts are basically the same as those of DCE’s listed options contracts. The contract types are divided into call options and put options, and the trading unit is 1 lot. The minimum price change is 0.5 yuan/ton. The price limit, contract month, trading time, etc. are the same as the underlying futures contract. The American option exercise method will still be used. The position limit for ethylene glycol options is 8,000 lots, and the position limit for styrene options is 8,000 lots. 12,000 lots, which are consistent with the starting position limit standards of the underlying futures general month contracts. In addition, DCE also clarified the listing base prices, trading instructions, exercise and performance, related fees, market maker system and contract inquiry of the two options in the notice.
According to a reporter from Futures Daily, on April 14, after the China Securities Regulatory Commission issued a notice approving the registration of ethylene glycol options and styrene options at DCE, all parties in the market paid close attention. Many market participants in the chemical industry said that after the listing of ethylene glycol options and styrene options, they will enrich the system of hedging tools for related liquid chemical products and provide a variety of options for industry companies to manage the price risks of related products. At the same time, the diversity and multi-strategy of option products also provide industry enterprises with new financial tools in trade, procurement, inventory, etc., helping enterprises to take advantage of the time value of options to optimize hedging costs.
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