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Notification on Market Risk Control during National Holiday 2020

Date: 2020-09-25

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All Members,

According to the holiday schedule of SGE, the market will be closed from October 1st (Thursday) to October 8th (Thursday). The market will reopen on October 9th (Friday), and there will be no night trading session on September 30th (Wednesday). 

In case of large volatility of gold and silver prices in global markets during the holiday, according to the “Measures for the Administration of Risk Control of the Shanghai Gold Exchange”, SGE is going to adjust trading margins and price limits of gold and silver deferred contracts. Please find detailed information below:

1. As of after-hours clearing on September 29th, 2020 (Tuesday), margin rates for Au(T+D), Au(T+N1), Au(T+N2), mAu(T+D), NYAuTN06, NYAuTN12 will be raised from 12% to 14%, and the price limits will be increased from 11% to 13% starting from the following trading day. Trading margin for Ag(T+D) will be raised from 16% to 19%, and the price limit will be increased from 15% to 18% starting from the following trading day.

If a limit-locked market occurs on September 29th, 2020 (Tuesday), the higher level of trading margins and price limits will be adopted if the adjustments for trading margins and price limits in limit-locked market formulated in the “Measures for the Administration of Risk Control of the Shanghai Gold Exchange” are higher than the above adjustments.

SGE will publish a separate announcement on recovery details of margin rate and price limit.

Please properly manage the risk, and duly adjust the margin rates based on customers’ positions and risk exposures. Please kindly remind your customers of market risk, make rational investment and position management, so as to ensure the healthy and stable operation of the market.

Shanghai Gold Exchange
September 25, 2020

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