Shanghai International Energy Exchange（hereinafter referred to as “INE”） notifies the trading margin update for crude oil futures contracts SC1810 and SC1811 listed below effective from the market close on Wednesday July 11, 2018:

The trading margin rate of contract SC1810 will be updated from 7% to 5.5% of the contract value.

The trading margin rate of contract SC1811 will be updated from 7% to 6% of the contract value.

For each of the above contracts, if the open interest reaches 30,000 lots (two-sided) at the market close, the trading margin rate shall return to 7% since the daily clearing process begins.

In the case that the above adjusted trading margin rates 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 requirements.

In the event of any inconsistency between the Chinese version and the English translation, the Chinese version shall prevail.

       Shanghai International Energy Exchange

July 9, 2018