According to the holiday schedule of SGE, the market will be closed from June 25th (Thursday) to June 28th (Sunday), and there will be no night trading session on June 24th (Wednesday). The market will reopen on June 29th (Monday).
In case of large volatility of gold and silver in global markets during the holiday, according to the “Measures for the Administration of Risk Control of the Shanghai Gold Exchange”, SGE is going to adjust trading margins and price limits of the deferred contracts including Au(T+D), mAu(T+D),Au(T+N1), Au(T+N2), NYAuTN06, NYAuTN12 and Ag(T+D). Please find detailed information below:
1. As of after-hours clearing on June 23th, 2020 (Tuesday), margin rates for Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, NYAuTN12 will be raised from 8% to 9%, and the price limits will be increased from 7% to 8% starting from the following trading day. Trading margin for Ag(T+D) will be raised from 10% to 11%, and the price limit will be increased from 9% to 10% starting from the following trading day.
If a limit-locked market occurs on June 23th, 2020 (Tuesday), the higher level of trading margins and price limits will be adopted if the adjustments for trading margins and price limits in limit-locked market formulated in the “Measures for the Administration of Risk Control of the Shanghai Gold Exchange” are higher than the above adjustments.
2. After the resumption of transaction on June 29th , 2020 (Monday), starting from the after-hours clearing of the first trading day which a limit-locked market does not occur, margin rates for Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, NYAuTN12 will be adjusted back to 8%, and price limits will be set back to 7% starting from the next trading day. Margin rate for Ag(T+D) will be set back to 10%, and price limit will be set back to 9% starting from the next trading day.
Please properly manage the risk, and duly adjust the margin rates based on customers’ positions and risk exposures. Please kindly remind your customers of market risk, make rational investment and position management, so as to ensure the healthy and stable operation of the market.
