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CFFEX Amends Contract Specifications and Detailed Trading Rules for 2-Year China Government Bond Futures
2023-10-20

To further improve the contract design of China government bond (CGB) futures and facilitate market functioning, China Financial Futures Exchange (CFFEX) released the amended 2-Year CGB Futures Contract Specifications and Detailed Trading Rules of CFFEX for 2-Year CGB Futures Contract on October 20, 2023, adjusting the tick size of 2-Year CGB futures contracts.

In response to market participants’ appeal for adjustment to the tick size of 2-Year CGB futures contracts, after careful evaluation and extensive public consultation, CFFEX decided to adjust the tick size of 2-Year CGB futures contracts from RMB 0.005 to RMB 0.002 according to market demands. This will increase precision of quotes on 2-Year CGB futures contracts, better align with the quoting precision in the CGB cash market, help investors improve precision of their hedging and other investment strategies, and promote the coordinated development of CGB cash and futures markets. The amended contracts rules will take effect on all listed 2-Year CGB futures contracts starting from the settlement period on November 6, 2023.

Next, under the leadership of the CSRC, CFFEX will fulfill its duties to pay close attention to market operations after the amendments of the 2-Year CGB futures contracts rules, make practical efforts to protect the legitimate rights and interests of investors, and effectively prevent market risks, so as to ensure healthy, stable and orderly operations of the CGB futures market.