Monday March 11 2019
News Source: Global Exchanges
Shanghai International Energy Exchange, the subsidiary of Shanghai Futures Exchange, has released its Circular on the Delivery Issues of SC1904 on 8 March 2019.
The last trading day for crude oil futures contract SC1904 is 29 March 2019, and the delivery dates are from 1 April to 4 April and 8 April 2019.
- In accordance with the Article 142 of Delivery Rules of Shanghai International Energy Exchange, a natural person as a client shall close out all the positions of SC1904 before the market close on 19 March 2019.
- In accordance with the Article 8 of Delivery Rules of the Shanghai International Energy Exchange, the clients who cannot issue or accept the prescribed invoices of the Exchange shall not make or take the crude oil futures delivery.
Members shall remind their clients of concerning rules and fully understand the clients’ qualification and capability of delivery. Clients who cannot or will not make or take delivery shall be reminded of the liquidity risk while approaching the delivery month. Clients intending to engage in the delivery shall complete the opening of standard warrant accounts through the Standard Warrant Management System. Clients as buyers shall get prepared for the payments, whilst clients as sellers shall get the standard warrants ready.
- In accordance with the Article 31 of Delivery Rules of the Shanghai International Energy Exchange, the Exchange, in its sole discretion, may appoint specific Members, OSPs, Overseas Intermediaries or Clients to submit large trader position reports or other supporting materials.
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