INE Circular [2018] No. 49

In accordance with the Chinese version of INE Circular on Holiday Calendar 2018 and Risk Management Rules of the Shanghai International Energy Exchange, INE hereby notifies the trading adjustments of crude oil futures contracts for Mid-Autumn Festival 2018 as follows:

1.     The market will be closed from 3:00 p.m. of September 21, 2018 to September 24, 2018.

The market will resume trading on September 25, 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 September 20, 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 since the daily clearing process begins.

In the case that the above adjusted trading margin rate and price limit vary from INE’s rules, the higher ones will prevail.

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.

       Shanghai International Energy Exchange

September 18, 2018