Shanghai Futures Exchange: Notice on Adjusting the Price Limit and Trading Margin Ratios for Gold and Other Futures Contracts

In a notice issued by the Shanghai Futures Exchange last time, after research it has been decided that, starting from the time the following contracts are listed, the limits for daily price increases and decreases and the trading margin ratios will be adjusted as follows: Gold AU2704 contract: the daily price increase/decrease limit shall be 17%, the margin ratio for positions held for hedging shall be 18%, and the margin ratio for general positions shall be 19%; Silver AG2703 contract: the daily price increase/decrease limit shall be 20%, the margin ratio for positions held for hedging shall be 21%, and the margin ratio for general positions shall be 22%; Nickel NI2703 and Tin SN2703 contracts: the daily price increase/decrease limit shall be 12%, the margin ratio for positions held for hedging shall be 13%, and the margin ratio for general positions shall be 14%; Natural Rubber RU2703 contract: the daily price increase/decrease limit shall be 9%, the margin ratio for positions held for hedging shall be 10%, and the margin ratio for general positions shall be 11%; Pulp SP2703 and Offset Printing Paper OP2703 contracts: the daily price increase/decrease limit shall be 7%, the margin ratio for positions held for hedging shall be 8%, and the margin ratio for general positions shall be 9%. If the circumstances specified in Article 13 of the “Administrative Measures for Risk Control of the Shanghai Futures Exchange” occur, then the above daily price increase/decrease limits and trading margin ratios shall be adjusted. Other matters regarding the daily price increase/decrease limits and trading margin shall be implemented in accordance with the “Administrative Measures for Risk Control of the Shanghai Futures Exchange” and related business rules.