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Notice of Opening the Trading Access of Ag(T+D) Products to International Members and Customers

Date: 2015-01-26

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All members,


For the purpose of diversifying trading products for international members and customers, the Shanghai Gold Exchange (“The Exchange”) is going to open the trading access of Ag(T+D) contracts to international members and customers. From February 2nd, 2015, all international members and customers are allowed to participate in the Ag(T+D) trading, including opening long or short positions and closing out long or short positions; and yet delivery tendering, delivery equalizer tendering, or load-in and load-out of physical silver bullions are not allowed.

The trading margins and transaction fees for international members are consistent with domestic members and customers. The position limits of Ag (T+D) for international members and customers are also in line with domestic members and customers. International members and customers may apply to SGEI for adjustment of position limits as per their business needs.


Annex: Specifications of Ag (T+D)






Shanghai Gold Exchange  

January 26, 2015










Specifications of Ag (T+D)

Bullion

Silver

Product Code

Ag(T+D)

Trading Mode

Deferred trading

Trading Unit

1Kilogram/Lot

Quotation Unit

Yuan(RMB)/Kilogram

Minimum Price Fluctuation

1RMB/Kilogram

Daily Price Limit

Settlement price of the previous trading day±7%

Minimum Quotation Size

1 lot

Maximum Quotation Size

2000lots

Contract Tenure

Continuous trading

Minimum Trading Margin

9%

Trading Hours

Morning Session: 9:00-11:30

Afternoon Session:13:30-15:30

NightSession:19:50-02:30

Collection and Payment Date for Deferred Interests

Daily per natural day

Deferred Interests Rate

0.02% of the market value of the product/per day

Minimum Delivery Tendering Amount

1lot

Window for Delivery Tenders

15:00-15:30

Window for Delivery Equalizer Tenders

15:31-15:40

  Duration for Extended Position

As per the SGE’s announcements

Extended Position Rate

As per the SGE’s announcements

Transaction Fees

0.02%of the transaction value

Penalty Rate

8% of the nominal value of the defaulted amount

  Mode of Clearing

Daily Mark-to-Market

Mode of Physical Delivery

Delivery tendering

Mode of Delivery

Physical

Deliverable Bullions

Standard silver ingots with a standard weight of 15kg and fineness no less than 99.99%

Delivery Date

The date on which delivery tenders are matched

Delivery Venue

SGE Certified Vaults

Delivery Fees

1RMB/Kilogram

Listing Date

October 30th, 2006



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