Oct. 22, 2012

In order to earnestly carry out the spirit of this year's Securities and Futures Regulatory Meeting, facilitate the functioning of futures market, better serve the physical economy and satisfy all investors, we have made corresponding revisions to our implementing rules such as Clearing Regulation of Shanghai Futures Exchange, Standard Warrant Regulations of Shanghai Futures Exchange and Trading Regulations of Shanghai Futures Exchange to the above-mentioned implementing rules have been adopted at the 27th Meeting of the Exchange's 2nd Board of Directors, and have been submitted to China Securities Regulatory Commission, which are now released as below.

To maintain a stable transition between new and old implementing rules, the following conclusions are reached upon consideration:

Ⅰ. The revised rules on clearing and return of margin during delivery period (as prescribed in Article 63 in Clearing Regulation of Shanghai Futures Exchange) will be implemented from Jan. 8, 2013.

Ⅱ. The revised rules on adjustment to determination of benchmark price on the next business day in case of no trade in new contacts on the day when it was listed (as prescribed in Article 49 in Trading Regulations of Shanghai Futures Exchange) will be implemented from Jan. 8, 2013.

Ⅲ. Other revisions to these rules will be implemented from Nov. 26, 2012.

　　Appendix：

　　1. Clearing Regulation of Shanghai Futures Exchange（revised）

　　2. Standard Warrant Regulations of Shanghai Futures Exchange （revised）

　　3. Trading Regulations of Shanghai Futures Exchange（revised）

　　（Main text of Appendix is available on Member Service System and the Exchange's website）