| Subject-matter products in the exchange are: GJ(dried cocoon in Pinyin abbreviation), SS(Pinyin abbreviation of raw silk certificated by inspection authority: Entry & Exit Inspection and Quarantine Bureau of The people's republic of China).
Dried cocoon (GJ) Grade: no lower than the 3A30QQ¢ógrade of national standard (GB9176-2006); with raw silk percentage of careless cocoon rate¡Ý30%, non-broken filament |
| rate¡Ý50%;number of rush upon in reeling process per myriameter ¨Q6. As per thegrade of national standard,raw silk percentage of careless cocoon rate=30% is the benchmark grade for quotation.
Raw silk (SS) Grade: no lower than 3A grade without any postil as per national standard (GB 1797-2001) and with specification of 20/22D, therefore, 3A 20/22 Draw silk is the benchmark grade for quotation, and grade price differentials are:4A grade up 4000 yuan/ton, 5A & 6A up 3000 yuan/ton. |
Contract 20 |
Dried cocoon |
Raw silk |
Ticker symbol |
GJ |
SS |
Quality standard |
National standard (GB9176-2006) |
National standard (GB1797-2001) |
Contract month & week |
Months except the Spring Festival month, canceled in March 2008 |
|
Trade unit |
1 trade unit = 1 Contract |
|
1 Contract = 5 MT |
1 Contract = 0.6 MT |
|
Quotation unit |
RMB Yuan/MT |
|
Tick size |
RMB50 Yuan/MT |
|
| Daily price fluctuation limit | Prev. close ¡À5% of contract price |
|
Margin |
20% of contract value: 1st trading day in delivery month 30% of contract value: 5th trading day in delivery month 100% of contract value: before the 2nd day ahead the delivery day |
|
| Trading fee (single side) | 0.03% contract amount |
|
| Last trading day | 10 th trading day in delivery month |
|
Delivery day |
11 th trading day in delivery month |
|
Delivery unit |
1 contract (5 MT) |
1 contracts (0.6 MT) |
| Delivery place (both cocoon and raw silk) | At appointed delivery warehouses at seller's option. |
|
| Delivery fee (single side) | 0.02% contract amount in appointed delivery warehouses |
|
