Shanghai International Energy Exchange (hereinafter referred to as “INE”), the subsidiary of Shanghai Futures Exchange has released its Circular on Trading Adjustments of Crude Oil Futures Contracts for Qingming Festival 2019 on April 1, 2019 as follows:
1. The market will be closed from 3:00 p.m. of April 4, 2019 to April 7, 2019.
The market will resume trading on April 8, 2019 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. The market will resume trading on April 8, 2019. As from the first trading day without the Limit-locked market, INE will adjust the trading margin rate to 9% and the price limit to ±7% since the daily clearing process begins.
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.
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 Futures Exchange
April 1, 2019