ZCE Rapeseed Oil
Each ZCE rapeseed oil futures contract represents 5 tons of deliverable 4th grade rapeseed oil, which is defined in accordance with Exchange standard Q/ZSJ 003-2007, while substitutions at differentials that meet ZCE delivery rules are also good for delivery, and its delivery date is set as the twelfth trading day of the delivery month.
Effective April 30, 2008 (the official website has not been updated yet), each ZCE rapeseed oil futures contract is subject to a margin rate equivalent to 6 percent of contract value, up from the previous 5 percent (e.g., 3495.6 yuan = 11652 yuan [RO809 last price on May 22, 2008] x 5 [tons/contract] x 6 percent) as well as a trading fee of 4 yuan (RMB) / contract.
In 2008, its first full year of trading, ZCE rapeseed oil futures traded 12,856,486 contracts and its turnover amounted to 609.5 billion yuan, already dwarfing ZCE hard white winter wheat futures, the least actively traded (in terms of volume) and smallest (in terms of turnover) contract on the ZCE.
|ZCE Rapeseed Oil futures|
|Exchange||Zhengzhou Commodity Exchange|
|Contract Size||5 tons/lot|
|Pricing Unit||5 yuan (RMB)|
|Tick Value||10 yuan (RMB)|
|Contract Months||Jan, Mar, May, Jul, Sep and Nov|
|Last Trading Day||The tenth business day of the delivery month|
|Note: This contract is electronic ONLY -- no open outcry|
|No Open Outcry||Electronic|
|Trading Hours||N/A||9:00-11:30 a.m. 1:30-3:00 p.m.|
|Price Limits||N/A||4% above or below the previous trading day's settlement price|
In 2014, the volume of ZCE rapeseed oil futures traded ranked eighteenth among all agricultural futures and options contracts according to the FIA.
|Year||Total Annual Volume||Percent Change|
- Rapeseed Oil Futures Contract Specs. Zhengzhou Commodity Exchange.