Shanghai International Energy Exchange Has Released Its Circular On Optimizing The Trade At Settlement (TAS) Orders

Shanghai International Energy Exchange has released its Circular on Optimizing the Trade at Settlement (TAS) Orders as follows:

To whom it may concern:

To meet market needs and improve market efficiency, the Shanghai International Energy Exchange (INE) will make the following adjustments to the Trade at Settlement (TAS) orders, as from 8:55 p.m. on April 10, 2023:

1. The price range for TAS orders will be expanded to the underlying contract’s daily settlement price ± 2 yuan/barrel. TAS orders executed at above or below the contract’s price limit will be settled at the corresponding price limit;

2. The end of daytime trading hours for TAS will be extended from 10:15 a.m. to 11:30 a.m.;

3. TAS orders will now be available to the nearby contract and the three monthly contracts thereafter.

INE will release another circular if any further changes occur.

Appendix: Instructions on Trade at Settlement (TAS) Orders