Announcement on Publishing Business Rules of Shanghai International Energy Exchange for Crude Oil Futures

 

Standard Crude Oil Futures Contract of the Shanghai International Energy Exchange

 

 

 

Product Medium Sour Crude Oil
Contract Size 1000 barrels per lot
Price Quotation (RMB) Yuan per barrel

(no tax or duty included in the quotation)

Minimum Price Fluctuation 0.1 Yuan / barrel
Daily Price Limits ±4% from the settlement price of the previous trading day
Listed Contracts Monthly contracts of recent twelve (12) consecutive months followed by eight (8) quarterly contracts.
Trading Hours 9:00-11:30 a.m., 1:30-3:00 p.m. (the Beijing Time), and other trading hours as prescribed by the Exchange
Last Trading Day The last trading day of the month prior to the delivery month; The Shanghai International Energy Exchange is entitled to adjust the last trading day in accordance with the national holidays.
Delivery Period Five (5) consecutive trading days after the last trading day.
Grades and Quality Specifications Medium sour crude oil with the quality specifications of API 32.0 degrees and sulfur content 1.5% by weight

The deliverable grades and the price differentials will be stipulated separately by the Shanghai International Energy Exchange.

Delivery Venues Delivery Storage Facilities designated by the Shanghai International Energy Exchange
Minimum Trading Margin 5% of contract value
Settlement Type Physical delivery
Product Symbol SC
Listing Exchange Shanghai International Energy Exchange


Source: Announcement on Publishing Business Rules of Shanghai International Energy Exchange for Crude Oil Futures

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