Circular on the Delivery Issues of SC2104

The last trading day for the crude oil futures contract SC2104 is March 31, 2021, and the delivery dates are April 1, April 2, April 6, April 7 and April 8, 2021. Accordingly, Shanghai International Energy Exchange (hereinafter referred to as “the Exchange”) hereby notifies issues concerning delivery as follows:

1. In accordance with the Article 143 of the Delivery Rules of Shanghai International Energy Exchange, a natural person as a client shall close out all the positions of SC2104 before the market close on March 19, 2021.

In accordance with the Article 66 of the Risk Management Rules of the Shanghai International Energy Exchange, the number of selling positions of SC2104 held by Clients, Non-FF Members, or OSNBPs shall not exceed that of the standard warrants they hold after the market close on March 26, 2021.

Members shall remind the Clients to manage their positions properly and timely close out the positions as required.

2. In accordance with the Article 8 of the Delivery Rules of the Shanghai International Energy Exchange, the clients who cannot issue or accept the prescribed invoices of the Exchange shall not make or take the crude oil futures delivery.

Members shall remind their clients of concerning rules and fully understand the clients' qualification and capability of delivery. Clients who cannot or will not make or take delivery shall be well reminded of the liquidity risk while approaching the delivery month. Clients intending to engage in the delivery shall complete the opening of standard warrant accounts through the Standard Warrant Management System. Clients as buyers shall get prepared for the payments, while clients as sellers shall get the standard warrants ready.

3. In accordance with the Article 31 of the Risk Management Rules of the Shanghai International Energy Exchange, the Exchange, in its sole discretion, may appoint specific Members, OSPs, Overseas Intermediaries or Clients to submit large trader position reports or other supporting materials.

Members shall know about their clients’ positions from time to time and manage risks in a sound manner.

All parties concerned shall abide by the relevant rules and make preparations for the sound delivery of SC2104.

Shanghai International Energy Exchange

March 10, 2021

关于SC2104合约临近交割有关事项的通知

上能发〔2021〕20号

各有关单位：

SC2104合约的最后交易日为2021年3月31日（周三），交割期为2021年4月1日（周四）、2日（周五）、6日（周二）、7日（周三）和8日（周四）。现将有关事项通知如下：

一、根据《上海国际能源交易中心交割细则》第一百四十三条规定，2021年3月19日（周五）收市后，自然人客户SC2104合约的持仓应当为0手。

根据《上海国际能源交易中心风险控制管理细则》第六十六条规定，2021年3月26日（周五）收市后，客户、非期货公司会员、境外特殊非经纪参与者SC2104合约的卖出持仓，不得超过其持有的标准仓单数量。

请会员单位提醒客户管理好持仓，及时做好平仓工作。

二、根据《上海国际能源交易中心交割细则》第八条规定，不能交付或者接受能源中心规定发票的客户不得参与原油期货交割。

请会员单位向客户提示相关规则，了解客户的交割资质和能力，向不能或者无意向参与实物交割的客户提示临近交割月的流动性风险。对于需要参与交割的客户，请期货公司会员提示客户在标准仓单管理系统完成开户，买入交割的客户准备好货款，卖出交割的客户准备好标准仓单。

三、根据《上海国际能源交易中心风险控制管理细则》第三十一条规定，能源中心可以根据市场风险状况，指定会员、境外特殊参与者、境外中介机构或者客户提交大户持仓报告或者其他说明材料。

请会员单位实时了解掌握客户持仓意图，做好风险管理工作。

各有关单位务必按照规则，切实做好各项准备工作，确保SC2104合约平稳顺利交割。

特此通知。

上海国际能源交易中心

2021年3月10日