Last issue of Energy released crude oil option contract rules

On June 11, the Shanghai International Energy Exchange, a subsidiary of the Shanghai Futures Exchange, officially released the crude oil options contract and related rules to prepare for the listing of crude oil options on June 21
.

The relevant person in charge of the energy of the previous period stated that the crude oil option was the first energy option of the previous period, and it was also China's first batch of options denominated in RMB and fully open to foreign investors

The person in charge said: "When designing crude oil options contract rules in the previous period, Energy has always insisted on combining international experience and local advantages.
The contract rules better integrate the operating experience of domestic listed options and the characteristics of the opening up of crude oil futures
.

"

In the previous issue of energy, it was stated that crude oil options are open to foreign investors, and the channels for foreign investors to participate in crude oil futures are basically the same
.

The opening of listed crude oil options to the outside world can not only enrich the risk management tools of domestic and foreign oil-related companies and enhance the level of cross-border risk management of enterprises, but also help to better play the role of resource allocation in the futures market by complementing crude oil futures

It is reported that the minimum price change of crude oil options is 0.
05 yuan/barrel
.

The person in charge stated that investors can apply for exercise or abandonment through the trading client; they can also contact member units and overseas special brokerage participants to apply for exercise or abandonment through the conference service system; access through overseas intermediaries Investors can also contact overseas intermediary agencies to submit an application for exercise or abandonment through the overseas intermediary service system

Taking into account that customers participating in crude oil options trading must obtain the trading qualifications of crude oil futures due to exercise and performance, it is clearly stipulated in the "Shanghai International Energy Exchange Center Futures Trader Suitability Management Rules" that unit customers and individual customers participating in crude oil options trading The adequacy standards of crude oil futures are consistent with those of crude oil futures
.

Among them, the available fund balance in the margin account of unit customers participating in crude oil option transactions shall not be less than 1 million yuan or equivalent foreign currency, and the available fund balance in the margin account of individual customers participating in crude oil options transactions shall not be less than 500,000 yuan or equivalent foreign currency

For customers who have obtained crude oil futures trading authority, they can be exempted from basic knowledge requirements, trading experience requirements, and available funds requirements after application, but they also need to review their compliance and integrity requirements
.

At the same time, those who have opened trading rights for specific types of futures or options other than crude oil futures can be exempted from the basic knowledge requirements and trading experience requirements, but the requirements for available funds, compliance and integrity requirements, etc.

Crude oil options, as the first batch of options opened to the outside world in China, combine the operating experience of domestic listed options and the characteristics of the opening of crude oil futures.