Shanghai International Energy Exchange has released its Circular on Trading Adjustments for the Mid-Autumn Festival 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 Mid-Autumn Festival 2024 as follows:

1. The market will be closed from 3:00 p.m. of September 13, 2024 to September 17, 2024.

The market will resume trading on September 18, 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 September 12, 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 TSR 20 futures contracts will be ±7% from the settlement price of that day, the trading margin rates for hedging will be 8% of the contract value, and the trading margin rates for speculative trading will be 9% 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 September 18, 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 TSR20 futures contracts will return to their original levels.

The price limits of Crude Oil futures contracts will be ±7% from the settlement price of that day, the trading margin rates for hedging will be 8% of the contract value, and the trading margin rates for speculative trading will be 9% of the contract value.

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 Mid-Autumn Festival 2024

Shanghai International Energy Exchange
September 10, 2024