Frequently Asked Questions

China Market

What are the benefits of an overseas investor trading via APF into INE?

When trading via APF, a client will only need to place margins in Singapore, and APF will handle the margin placement in China. Additionally, as APF is an OSBP, we are a remote trading member of INE and our clients will get direct access to INE’s market, resulting in lower latency and cost.

What is a client trading code for trading China Internationalised Products?

The client trading code refers to the special code used by a client to carry out futures trading after the completion of the client’s account opening application. The futures exchange will assign to the client a trading code. The client trading code consists of a 12-digit number, the first four digits being APF’s number and the remaining eight digits being the client number. One client can only have one client number in one China futures exchange but may have more than one trading code since the client can open accounts through different members.

How will margins be handled in INE?

For INE, if a Client is holding both long and short positions in the same product and on the books of the same Member, the Exchange may collect trading margin solely from the side for which a larger amount of trading margin is required, except for the contract held after the closing of the fifth (5th) trading day prior to the last trading day.

For instance, if a client’s initial margin for a long position is RMB10,000 in the third month, the client will be charged RMB10,000. In the event that the client opens a second long position in the fourth month, and the initial margin is calculated as RMB15,000, the client’s total initial margin will be the sum of his long positions (RMB 10,000 + RMB 15,000), which totals RMB 25,000.

Conversely, should the position in the fourth month be a short position, the initial margin would be RMB 15,000, which is the larger amount of trading margin required of the two.