Shanghai International Energy Exchange has released its Circular on Trading Adjustments for the International Workers’Day 2023 as follows:

In accordance with Trading Schedule during National Holidays for Year 2023, Shanghai International Energy Exchange (hereinafter referred to as “INE”) hereby notifies the trading adjustments for The International Workers’Day 2023 as follows:

1. The market will be closed from 3:00 p.m. of April 28, 2023 to May 3, 2023.

The market will resume trading on May 4, 2023 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. As from the first trading day without the Limit-locked market from April 27, 2023, INE will adjust the trading margin rates and the price limits for the contracts listed below since the daily clearing process begins:

The trading margin rate of Bonded Copper futures contracts will be 11% of the contract value and the price limit will be ±9% from the settlement price of that day.

The trading margin rate of Low Sulfur Fuel Oil contracts will be 14% of the contract value and the price limit will be ±12% from the settlement price of that day.

In the case that the above adjusted trading margin rates and price limits vary from the current ones, the higher ones will prevail.

3. The market will resume trading on May 4, 2023. As from the first trading day without the Limit-locked market, INE will adjust the trading margin rates and the price limits for the contracts listed below since the daily clearing process begins:

The trading margin rate of Bonded Copper futures contracts will return to 9% of the contract value and the price limit will be ±7% from the settlement price of that day.

The trading margin rate of Low Sulfur Fuel Oil futures contracts will return to 12% of the contract value and the price limit will be ±10% from the settlement price of that day.

Please refer to Risk Management Rules of the Shanghai International Energy Exchange for implementing other provisions concerning the trading margins and the price limits.

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.

Appendix: The Adjustment of Trading Margin Rates and the Price Limits of Futures Contracts for the International Workers’Day 2023

Shanghai International Energy Exchange
April 25, 2023