Shanghai International Energy Exchange has released its Circular on Trading Adjustments for the International Workers’ Day 2024 as follows:

In accordance with the Trading Schedule during National Holidays for Year 2024, Shanghai International Energy Exchange (hereinafter referred to as “INE”) hereby notifies the trading adjustments for the International Workers’ Day 2024 as follows:

1. The market will be closed from 3:00 p.m. of April 30, 2024 to May 5, 2024.

The market will resume trading on May 6, 2024 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 April 29, 2024, INE will adjust the price limits and the trading margin rates for the contracts listed below when the daily clearing process begins:

The price limits of Bonded Copper and TSR 20 futures contracts will be ±8% from the settlement price of that day, the trading margin rates for hedging will be 9% of the contract value, and the trading margin rates for speculative trading will be 10% of the contract value.

The price limits of Crude Oil and Low Sulfur Fuel Oil futures contracts will be ±10% from the settlement price of that day, the trading margin rates for hedging will be 11% of the contract value, and the trading margin rates for speculative trading will be 12% of the contract value.

The price limits of EC2406, EC2408, EC2410, EC2412, and EC2502 will be ±18% from the settlement price of that day, and the trading margin rates will be 20% of the contract value.

In case of the situation stipulated in Article 16 of the Risk Management Rules of the Shanghai International Energy Exchange, the trading margin rates and the price limits will be adjusted on the basis of the above mentioned parameters.

3. The market will resume trading on May 6, 2024. As from the first trading day without a Limit-locked market, INE will adjust the price limits and the trading margin rates for the contracts listed below when the daily clearing process begins:

The price limits and the trading margin rates for all futures contracts will return to their original levels.

Please refer to the 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 Adjustments of Trading Margin Rates and Price Limits of Futures Contracts for the International Workers’ Day 2024

Shanghai International Energy Exchange
April 25, 2024