Fuel Oil** Contract Implementation Rules Completed

After receiving the official documents issued by the China Securities Regulatory Commission, the Shanghai** Exchange recently announced seven amendments to the revised fuel oil (4614, -17.00, -0.37%)** standard contract and related regulations. According to the new rules, the fuel oil** standard contract will be revised from 10 tons per lot to 50 tons per lot, and the trading unit will be magnified by five times.

According to the previous period, the fuel oil contract and relevant regulations were revised and implemented starting from the FU1202 contract. The revised trading unit of the fuel oil contract was adjusted to 50 tons/hand, with a minimum price of 1 yuan/ton, and the delivery grade was 180CST fuel oil or other fuel oil whose quality was better than the standard. From January 14 to November 30, the transition period for the fuel oil contract and the implementation of the revised rules. For listed contracts, the original rules are still implemented. After the FU1202 contract and subsequent contracts are listed, the new rules will be implemented. From January 17, 2011, the fuel oil** contract transaction fee was temporarily charged at 0.5% of the contract value.

At the same time, the previous issue also announced the announcement of amendments to the relevant rules and regulations concerning the cut-off point for natural persons near the deadline for delivery. The "Shanghai** Exchange Fuel Oil Hedging Transaction Management Measures (Trial)" and "Shanghai**" related to the revision of the fuel oil contract and related amendments to certain varieties of natural persons approaching the delivery deadline and the revision of warehouse cutoffs are permitted. Exchange Risk Control Management Measures (Amendment), Implementation Rules for Delivery of Fuel Oil** by Shanghai** Exchange (Trial) (Amendment), and Administrative Measures for Hedging Transactions in Shanghai** Exchange (Amendment) ), The "Shanghai** Exchange Delivery Rules" (Amendment) and the "Shanghai** Exchange Gold Delivery Delivery Rules (Trial)" (Amendment) and other implementing rules have been reviewed and approved at the previous meeting and reported to the China Securities Regulatory Commission. .

It is understood that the previous period plans to conduct trading system testing from January 24 to January 28, 2011 on the evening of January 31, 2011. All remote trading seats of company members should participate in this round of testing. At the same time, in order to ensure that the six new varieties of copper, aluminum, zinc, natural rubber, fuel oil, and gold are approaching the delivery deadline, the new and old rules for the cut-off point are steadily alternated, and the related adjustments will be related to the cut-off points allowed by natural persons. The July 2011 contract began.

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