China Market

China Market

TypeMedium Sulfur Crude Oil
Unit1000 barrels / lot
QuotationYuan (RMB) / Barrel
Mini Price Fluctuation0.1 Yuan (RMB)  / Barrel
Daily Price Limit≦ previous daily settlement ±5%
Listed ContractWithin 36 months
First 12 consecutive months Quarterly months afterward
Trading Hours9:00 am - 11:30 am,1:30 pm - 3:00 pm
21:00 pm - 02:00 am
(or others specified by INE)
Last trading DayLast trading day of contract month before the settlement month
(INE has the right to adjust according to national holidays)
Delivery Period5 consecutive days after the last trading day
Quality SpecificationsMedium Sulfur Crude Oil;Standard API 32,Sulfur 1.5%
(or others specified by INE)
Delivery VenuesSettlement warehouses designated by INE
Minimum MarginContract Value 7% (or adjusted by INE/clearing members)
Settlement TypePhysical
Q2.Cross Market Comparison
(一)Contract Size
The same with the 3 major crude oil futures, easy for trading.
(二)Trading Hours
INE trading hours is planned for day time currently。Not yet follow the 3 major crude oil futures to cover the whole day trading.
Note:The above is Beijing Time, American Daylight Time is one hour earlier
Pricing: INE oil futures is priced in RMB while the other 3 major oil futures are priced in USD.
Settlement: ICE Brent is in cash settlement while INE SC and the other 2 major oil futures are in physical settlement.
Last Trading Day: For the same expiry contract month, INE SC is the last one to expire.
Ex:2017 Sep contract expiry
Margining: INE SC is on percentage of contract value (5% ruled by INE) ,the other 3 major oil futures are on fix margining published by the respective exchanges.

Risk Disclosure:Transactions conducted through the Internet may be subject to transmission blackout, interruption, delayed transmission due to Internet traffic, incorrect data transmission due to the public nature of the Internet or any uncertain circumstances out of YSHK’s control and cause errors or delay on order transmission, receiving or execution, including unexecution of effective amendment instruction, the original or unrevised instruction may be executed when the order is intended to be cancelled, instructions to trade may not be executed or may be delayed so that they are executed at prices different from those prevailing at the time the instructions were given, and/or communications and personal data may be accessed by unauthorized third parties. YSHK accepts no liability to you or anyone else for any loss or expense arising from the risks.There are risks of your access code or login password being abused or utilised by unauthorised persons. Do not divulge your login ID and password to third parties and change your password regularly. If there is any unauthorised use of your trading or login password, you shall notify YSHK immediately and you agree that you shall bear all risks in connection with any unauthorised use of your trading or login password and you shall indemnify YSHK on demand for any losses, costs, damages, expenses or claims which YSHK may suffer as a result of any unauthorised use of your trading or login password.