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Notification on Market Risk Control during the Mid-Autumn Festival in 2021

Date: 2021-09-15

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All members:

According to the holiday schedule of SGE, the market will be closed from September 18th (Saturday) to September 21st (Tuesday), the market will reopen on September 22nd (Wednesday), and there will be no night trading session on September 17th (Friday).

In case international gold and silver market fluctuates dramatically during the holiday, SGE will adjust the margin rates and price limits of gold and silver deferred contracts according to the Measures for the Administration of Risk Control of the Shanghai Gold Exchange. Detailed adjustments are as below:

As of after-hours clearing on September 16th 2021 (Thursday), margin rates for Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, NYAuTN12 will be raised from 8% to 10%, and price limits will be raised from 7% to 9% starting from the following trading day. Margin rate for Ag(T+D) will be raised from 12% to 14%, and price limit will be raised from 11% to 13% starting from the following trading day.

If a limit-locked market occurs on September 16th, the higher level of margin rates and price limits will be adopted if the above adjustments are below the rates formulated in the Measures for the Administration of Risk Control of the Shanghai Gold Exchange.

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

Please properly control the market risk, duly adjust margin requirements based on your customers’ positions and risk profiles; remind your investors to keep prudent and rational during the trading, and appropriately manage positions so as to ensure the healthy and stable operation of the market.

Shanghai Gold Exchange
September 15, 2021

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