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Notification on Implementation of the One-Way Large-Side Margin System

Date: 2018-08-10

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Dear Members,
SGE has amended Detailed Clearing Rules of the Shanghai Gold Exchange, in order to improve the market’s operation quality and capital efficiency, and to optimize SGE’s margin system. The amendment has been submitted to the People's Bank of China for approval and is now published.
SGE will implement the One-Way Large-Side Margin System for the deferred contracts from August 16th 2018. Descriptions are as follows:
1. When the deferred contracts with same varieties and both long and short positions are held by the same customers under the same member seat, and only the larger side trading and settlement margin will be charged by SGE.
2. Gold deferred contracts with same varieties are: Au(T+D)、Au(T+N1)、Au(T+N2)、mAu(T+D); Silver deferred contract with same varieties is: Ag(T+D).
3. The One-way Large-side Margin System will be officially implemented as of the closing and settlement on August 15th 2018.
All members shall be well prepared for the One-way Large-side Margin System and properly conduct risk control, thus to ensure the smooth operation of the market.
Note: Please kindly visit our Chinese website for more information of the One-Way Large-Side Margin System. The English version of Detailed Clearing Rules of the Shanghai Gold Exchange will be published soon.


Shanghai Gold Exchange
August 7th, 2018






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