INE manages hedging activities through a review and 

approval system. If a trader believes that the regular 

position limit is too low to meet its hedging needs, it may 

apply to INE for a hedging quota. 

In relation to the hedging and arbitrage positions in an EC 

contract, the regular months are the period from the listing 

day to the eighth trading day before the last trading day; 

the nearby delivery month is the period from the seventh 

trading day before the last trading day to the last trading 

day.

For an EC contract, the application for hedging quota for 

regular months should be submitted between the listing 

day and the eighth trading day before the last trading day. 

No late application will be accepted.

The application for hedging quota or arbitrage quota for 

nearby delivery months should be submitted between the 

first trading day of the month before the delivery month 

and the fifth trading day before the last trading day. No 

late application will be accepted.

The hedging quota for nearby delivery months may be 

used in a revolving manner starting from the seventh 

trading day before the last trading day until the second 

trading day before the last trading day.

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