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Circular of Shanghai International Energy Exchange on Trading Adjustments of Crude Oil Futures Contracts for National Day 2018

    Shanghai International Energy Exchange (hereinafter referred to as “INE”), the subsidiary of Shanghai Futures Exchange has released its circular on the trading adjustments of crude oil futures contracts for National Day 2018 on September 25, 2018 as follows:

 

 

1.     The market will be closed from 3:00 p.m. of September 28, 2018 to October 7, 2018.

 

 

The market will resume trading on October 8, 2018 with the central auction session from 8:55 a.m. to 9:00 a.m. and the continuous trading on the night of that day.

 

 

2.     If the Limit-locked market does not occur on September 27, 2018, INE will adjust the trading margin rate to 10% of the contract value and the price limit to ±8% from the settlement price of that day since the daily clearing process begins.

 

 

In the case that the above adjusted trading margin rate and price limit vary from INE’s rules, the higher ones will prevail.

 

 

3.     The market will resume trading on October 8, 2018. As from the first trading day without the Limit-locked market, INE will adjust the trading margin rates and the price limits for the contracts listed below since the daily clearing process begins:

 

 

The trading margin rate for SC1811, SC1901 and SC1902 will be 10%, 6% and 5.5% respectively. For other contracts, the trading margin rate will return to 7%.

 

 

The price limit for SC1811 will be ±8%. For other contracts, the price limit will return to ±5%.

 

 

Please refer to Risk Management Rules of the Shanghai International Energy Exchange for implementing other provisions concerning the trading margin and the price limit.

 

 

All Members and Overseas Special Participants shall manage risks in a sound manner to ensure the smooth functioning of the market.

 

 

In the event of any inconsistency between the Chinese version and English translation, the Chinese version shall prevail.

 
 
       Shanghai Futures Exchange
September 25, 2018

 

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