The fund or institution will be exempt from position limits required for each contract by their respective trading rules only after the exchange has approved the application and issued certifying documentation that may be used to open a hedge account with a futures commission merchant or convert an existing trading account into a hedge account 俟本公司同意并发给证明文件,凭以向期货商开设避险帐户或将原交易帐户变更为避险帐户,并由期货商函报本公司后,该法人机构从事期货交易,始得豁免交易规则之部位限制规定。
position limits meaning:[Finance] Applies to derivative products. Maximum position available in any one future or option contract for a given institution. For "bona fide" futures hedgers, there are no position limits.