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SHFE Notice on Soliciting Public Comments and Opinions on Stainless Steel Futures Contracts and Related Rules

2019-08-09
According to the Regulations on the Administration of Futures Trading, Administrative Measures for Futures Exchanges and other relevant laws and regulations, Shanghai Futures Exchange (SHFE) drafted the Shanghai Futures Exchange Stainless Steel Futures Contract (Draft for Comment). SHFE also revised 9 detailed implementation rules and management measures such as the Trading Rules of Shanghai Futures Exchange (draft for comments), these rules were further revised and now is soliciting public comments and opinions.
 
Please submit your comments and suggestions on the revised contents of the above rules to the Shanghai Futures Exchange in writing or by e-mail on August 20, 2019 (7 working days from the date of publication).
 
Contact as below:
Contact: Lu Xiao, Cui Mo
Address: Legal Affairs Department, Shanghai Futures Exchange, 23rd Floor, Guohua Life Financial Building, No. 288 Xiangcheng Road, Pudong New Area, Shanghai
Postal code: 200122
Tel: 021-20616259 021-20616806
Fax: 021-20767686
Email: lu.xiao@shfe.com.cn, cui.mo@shfe.com.cn.
 
 
 
News Link: http://www.shfe.com.cn/news/notice/911334552.html
 
 
 
 
Appendix 2
 
Contract Specification of Stainless Steel of SHFE (Draft) (Soliciting Public Opinion)
 
Product Stainless Steel
Contract Size 5 ton/lot
Price Quotation yuan(RMB)/ton
Minimum Price Fluctuation 5yuan/ton
Daily Price Limit Within 4% of the settlement price as of the preceding trading day
Contract months January to December
Trading Hours 9:00 a.m. to 11:30 a.m., 1:30 p.m. to 3:00 p.m., and other time periods specified by the Exchange (Beijing Time)
Last Trading Day The 15th of the contract month (The last trading day may be adjusted by the Exchange in view of legal holidays in China)
Delivery Period Five consecutive business days after the last trading day
Grade and Quality Specifications Standard products are the 304 oxide scale cold stainless steel with the thickness of 2.0mm, width of 1219mm, surface finish of 2B, and edge cut.
The thickness of alternative deliverable goods include: 0.5 mm, 0.6 mm, 0.7 mm, 0.8 mm, 0.9 mm, 1.0 mm, 1.2 mm, 1.5 mm, 3.0mm,width include 1000mm, 1500mm,edge status include: rough cut (The Exchange will announce separately on the premium and discount of thickness, and edge status)
Quality meet the requirement of GB/T3280-2015 of Stainless cold steel and steel belt, or meet JIS G 4305: 2012 of cold stainless steel and steel belt
Delivery Venue Delivery Storage Facilities designated by the Shanghai Futures Exchange
Minimum Trade Margin 5% of contract value
Delivery Type Physical delivery
Minimum Warranted Delivery Size 60 ton
Contract Symbol SS
Listing Exchange SHFE