On April 10, the Shanghai Futures Exchange announced that from April 12 (that is, continuous trading on the evening of April 11), trading limits will be implemented for gold and copper futures.
According to the announcement, the maximum number of intraday open transactions for gold is 2,800 lots, and the maximum number of intraday open trades for copper is 2,000 lots.
The announcement is as follows:
Notice on the implementation of trading limits on gold and copper futures
No. 108 [2024] issued in the previous issue
All relevant units:
In accordance with the relevant provisions of the "Shanghai Futures Exchange Trading Rules", "Shanghai Futures Exchange Risk Control Management Measures" and "Shanghai Futures Exchange Abnormal Trading Behavior Management Measures", it has been decided that from April 12, 2024 (i.e., continuous trading on the evening of April 11), our exchange will implement trading limits for gold and copper futures. The maximum number of positions opened by non-FF members and clients in each contract day of the above varieties is as follows.
The maximum number of intraday open trades for an account group with an actual control relationship is executed on a per-client basis. The number of open positions for hedging and market making is not subject to this limit.
For non-FF members or clients who exceed the trading limit for the first time, self-regulatory measures will be taken to restrict the opening of positions for not less than 5 trading days, and if the trading limit is exceeded twice, self-regulatory measures will be taken to restrict the opening of positions for not less than 1 month, and if the trading limit is exceeded three times in total, self-regulatory measures will be taken to restrict the opening of positions for not less than 2 months. If the circumstances are serious, it shall be dealt with in accordance with the relevant provisions of the Measures for Handling Violations of the Shanghai Futures Exchange.
Notice is hereby given.
Shanghai Futures Exchange
April 10, 2024
■Source: Shanghai Futures Exchange official website
■编辑：欧帆、越玥、张阿嫱