Dear customer

The China Securities Regulatory Commission has approved the registration of ethylene glycol and styrene options on the Dalian Commodity Exchange (hereinafter referred to as the "Da Shang Exchange"), and the relevant matters are hereby notified as follows:

1、 Listing and trading time

The ethylene glycol and styrene options will be listed for trading starting from Monday, May 15, 2023. On the day of listing, there will be a collective auction from 8:55 to 9:00, and the market will open at 9:00. On the evening of May 15th (Monday), ethylene glycol options and styrene options were traded overnight. Afterwards, the trading time of ethylene glycol and styrene options was consistent with the underlying futures.

2、 Listing trading contract

The first day of listing for ethylene glycol options and styrene options contracts starts from EG2307 and EB2307, respectively. The first day of listing of ethylene glycol options for 10 contract months, namely EG2307, EG2308, EG2309, EG2310, EG2311, EG2312, EG2401, EG2402, EG2403, and EG2404; The styrene option will be listed for 10 contract months on the first day, namely EB2307, EB2308, EB2309, EB2310, EB2311, EB2312, EB2401, EB2402, EB2403, and EB2404.

3、 Listing benchmark price

According to the BAW American option pricing model, calculate the listing benchmark prices of ethylene glycol and styrene option contracts. The interest rate in the model is based on the latest one-year fixed deposit benchmark interest rate, and the volatility is based on the 90 day historical volatility of the underlying futures contract. The benchmark prices for newly listed ethylene glycol options and styrene option contracts are settled on the trading day before listing, and will be published along with the settlement data through the member service system. They can also be queried through the website of Da Shang Shi (www.dce. com. cn).

4、 Trading Instructions

You can use limit orders and limit stop loss (profit) orders to trade ethylene glycol and styrene options, with the maximum number of orders placed each time being the same as the underlying futures.

5、 Exercise and Performance

At the trading time of each trading day and from 15:00 to 15:30 on the expiration date, customers can submit applications for "exercise", "bidirectional option position hedging and closing", "bidirectional futures position hedging and closing after exercise", and "bidirectional futures position hedging and closing after exercise". At the trading time on the expiration date and from 15:00 to 15:05 on the expiration date, customers can submit a "cancellation option automatic exercise application".

6、 Position limit

The limit for holding ethylene glycol options is 8000 hands, and the limit for holding styrene options is 12000 hands. Ethylene glycol options and styrene options are subject to separate limit positions from the underlying futures. The sum of the buying and selling positions of all call options and put options in a certain month's option contract held by non futures company members and customers, as well as the buying and selling positions of put options and call options, shall not exceed the holding limit of the option variety, respectively. Consolidate positions with actual control relationships.

7、 Related expenses

The transaction fee for ethylene glycol and styrene options is 2.5 yuan per transaction, and the exercise (exercise) fee is 5 yuan per transaction.

8、 Market maker system and contract inquiry

The trading of ethylene glycol options and styrene options adopts a market maker system. Non members and customers of futures companies can inquire from market makers on non market maker continuous quotation contracts. Market maker continuous quotation contracts are subject to publication on the website of the Da Shang Exchange. The inquiry request should specify the option contract code, and the inquiry time interval for the same option contract should not be less than 60 seconds. The maximum daily quote limit for the same trading code on a single option variety is 200 times.

Hereby notified.

April 20, 2023

Ping An Futures Co., Ltd