From the date of announcement, the JEX platform accepted users to generate option positions in the form of margin and participate in the transaction. The specific options are generated as follows:
For options that have been short on the JEX platform and are in normal trading, the user can generate options in the following ways:
1. Prepare the appropriate margin in your account. The margins corresponding to different contracts can be found on the contract and announcement.
2. Fill out the option short application form and submit the application form in the online customer service at the bottom of the website.
3. After the system audits the qualification and deducts the deposit, the corresponding option position is added to the user. The option positions held by the user can participate in the transaction.
The process by which a user cancels an option position.
1. Prepare an option position that needs to be written off in the account. The number of options written off must match the number of options shorted.
2. Fill out the option cancellation application form and submit the application form in the online customer service at the bottom of the website.
3. After the system reviews the application, the user is revoked the corresponding option position and the corresponding freezing margin is released.
Settlement of due delivery
If the user who shorted and sold the option did not buy back the same quantity of the option and canceled the option before the expiration of the option, the user who shorted and sold the option would have to pay the exercise proceeds of the option sold. If there is no gain in the option exercise, the seller does not need to pay the exercise proceeds, and the system automatically returns the margin; if the option expires the exercise income is greater than 0, the system will automatically withdraw from the margin of the seller. The corresponding amount of margin is deducted for payment to the option buyer and the remainder is automatically returned to the seller.
During the option short and cancellation business test period, we will adopt a lower leverage ratio and a more rigorous manual review mechanism. The daily application processing time is 9:00 – 17:00, and the staff will receive the application, contact the applicant and reply to the review results within two hours. After the build-logout system and the risk control system are mature, we will provide a higher leverage and open the option short function on the trading platform.