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 on June 12, 2018 as follows:

1.     The market will be closed from 3:00 p.m. of June 15, 2018 to June 18, 2018.

The market will resume trading on June 19, 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 June 14, 2018, INE will adjust the trading margin rate from 7% to 8% of the contract value and the price limit from ±5% to ±6% from the settlement price of that day after the market close.

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 June 19, 2018. As from the first trading day without the Limit-locked market, the trading margin rate and the price limit will return to the original levels after the market close.

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.