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Circular Of Shanghai International Energy Exchange On The Delivery Issues Of SC2011

Date 12/10/2020

Shanghai International Energy Exchange has released its Circular on the Delivery Issues of SC2011 as follows:

The last trading day for the crude oil futures contract SC2011 is October 30, 2020, and the delivery dates are from November 2 to November 6, 2020. Accordingly, Shanghai International Energy Exchange (hereinafter referred to as “the Exchange”) hereby notifies issues concerning delivery as follows:


1. In accordance with the Article 142 of the Delivery Rules of Shanghai International Energy Exchange, a natural person as a client shall close out all the positions of SC2011 before the market close on October 20, 2020.
In accordance with the Article 63 of the Risk Management Rules of the Shanghai International Energy Exchange, the number of selling positions of SC2011 held by Clients, Non-FF Members, or OSNBPs shall not exceed that of the standard warrants they hold after the market close on October 27, 2020.
Members shall remind the Clients to manage their positions properly and timely close out the positions as required.
2. In accordance with the Article 8 of the Delivery Rules of the Shanghai International Energy Exchange, the clients who cannot issue or accept the prescribed invoices of the Exchange shall not make or take the crude oil futures delivery.
Members shall remind their clients of concerning rules and fully understand the clients' qualification and capability of delivery. Clients who cannot or will not make or take delivery shall be well reminded of the liquidity risk while approaching the delivery month. Clients intending to engage in the delivery shall complete the opening of standard warrant accounts through the Standard Warrant Management System. Clients as buyers shall get prepared for the payments, while clients as sellers shall get the standard warrants ready.
3. In accordance with the Article 31 of the Risk Management Rules of the Shanghai International Energy Exchange, the Exchange, in its sole discretion, may appoint specific Members, OSPs, Overseas Intermediaries or Clients to submit large trader position reports or other supporting materials.
Members shall know about their clients’ positions from time to time and manage risks in a sound manner.

All parties concerned shall abide by the relevant rules and make preparations for the sound delivery of SC2011.