News
Notice of Opening the Trading Access of Ag(T+D) Products to International Members and Customers
Date: 2015-01-26
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 | |
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 |