Shanghai International Energy Exchange, the subsidiary of Shanghai Futures Exchange has released its Circular on Trading Margin Rate and Price Limit Updates of TSR 20 Futures Contracts on March 19, 2020.

The trading margin rate for TSR 20 futures contracts will be updated to 11% of the contract value and the price limit will be updated to ±9% from the settlement price of that day since the daily clearing process begins on March 23, 2020.

In the case that the above adjusted trading margin rate and price limit vary from the current ones, 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.

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

       Shanghai Futures Exchange

March 19, 2020