Shanghai International Energy Exchange has released its Circular on Adjusting Trading Margin Rates and Price Limits of Futures Contracts as follows:

All related parties,
　　
　　Shanghai International Energy Exchange (hereinafter referred to as “INE”) hereby notifies the trading adjustments as follows:

　　As from July 19, 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 TSR 20 futures contracts will be 8% of the contract value and the price limit will be ±6% from the settlement price of that day.

　　The trading margin rate of Low Sulfur Fuel Oil futures contracts will be 10% of the contract value and the price limit will be ±8% 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.

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

　　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 Price Limits of Futures Contracts

Shanghai International Energy Exchange
July 14, 2023