According to the holiday schedule of SGE, the market will be closed from May 1st (Friday) to May 5th (Tuesday), and there will be no night trading session on April 30th (Thursday). The market will reopen on May 6th (Wednesday).
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 April 29th 2020 (Wednesday), margin rates for Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, NYAuTN12 will be raised from 8% to 10%, and their price limits will be increased from 7% to 9% starting from the following trading day. Trading margin for Ag(T+D) will be raised from 11% to 13%, and its price limit will be increased from 10% to 12% starting from the following trading day.
If a limit-locked market occurs on April 29th 2020 (Wednesday), 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. Regarding to the recovery date of previous margin rates and price limits, SGE will disclose further notice after the market reopens on May 6th (Wednesday).
Please properly manage the risk, and duly adjust the margin posted on your customers’ positions and risk profiles; please kindly remind your customers to keep prudent and rational when trading, and manage the scales of the positions at the best endeavor so as to ensure the healthy and stable operation of the market.
