As the May Day holiday is approaching, an announcement was made on April 28, 2016 to make corresponding adjustment arrangements for personal provident fund and over-the-counter bond business transactions during the Labor Day holiday in 2022 . Meanwhile, China Industrial And Commercial Bank Of China Limited(601398) recently forwarded the notice on preventing market risks during labor day 2022 issued by Shanghai gold exchange, and issued a notice on April 28 that will adjust the margin ratio and trading authority of individual precious metals deferred settlement
I. personal interest adjustment
According to the information on the official website of Bank Of China Limited(601988) on April 28, according to the arrangement of the closure of China’s precious metals and bond market during international labor holidays, Bank Of China Limited(601988) personal provident fund and over-the-counter bond business trading hours will be adjusted accordingly , and the specific arrangements are as follows (the following are Beijing time):
I. personal provident fund business: trading will be suspended from 15:15 pm on Friday, April 29, 2021 and resumed from 9:00 am on Thursday, May 5 .
II. OTC bond business: 2022 trading will be suspended from 15:30 pm on Thursday, April 28, and resumed from 9:30 am on Thursday, May 5 .
Considering that on the day after the above holidays, when BOC resumes quotation, there may be obvious market fluctuations and poor liquidity, BOC will adjust the quotation spread level according to the market conditions, and the specific adjustment shall be subject to the actual transaction price of each channel.
Please pay attention to the changes of the above trading time and price difference, and make arrangements in advance.
Industrial And Commercial Bank Of China Limited(601398) : adjust the margin ratio and trading authority of individual precious metal deferred settlement transaction
According to China Industrial And Commercial Bank Of China Limited(601398) official website, ICBC forwarded the notice on preventing market risks during labor day 2022 issued by Shanghai Gold Exchange on the 27th. According to the announcement of the holiday closing arrangement of the Shanghai gold exchange, the Shanghai Gold Exchange will be closed from April 30 ( Saturday Co.Ltd(002291) ) to May 4 (Wednesday), open as usual from May 5 (Thursday), and no night market trading will be conducted on the evening of April 29 (Friday).
In addition, April 28, Industrial And Commercial Bank Of China Limited(601398) issued the notice on adjusting the margin ratio and trading authority of individual precious metal deferred settlement transaction . According to the notice, in order to comply with the changes of market situation, ICBC will further adjust the precious metal deferred settlement business of individual customers of Shanghai Gold Exchange in accordance with the agreement on precious metal competitive trading business of individual customers (2020 version) and the notice on adjusting the deferred settlement business of individual precious metals of ICBC on August 16, 2021, as follows:
I. adjustment of trading margin ratio
(I) since the closing and liquidation on Thursday, April 28, 2022, the proportion of our standard trading margin for Au (T + D), Mau (T + D), Au (T + N1), Au (T + N2), nyautn06 and nyautn12 contracts has increased from 29% to 31%, and the proportion of our standard trading margin for Ag (T + D) contracts has increased from 33% to 35%; Synchronous adjustment of differentiated margin.
(II) ICBC will continue to increase the above-mentioned contract margin ratio according to the market risk of precious metals.
II. Adjustment of transaction authority
Since May 2022, ICBC will close or restrict the trading function of its precious metal deferred settlement business at the beginning of next month for individual customers who have no precious metal deferred settlement contract positions at the end of the last trading day of each month. If the customer’s trading function is closed, the opening and closing of precious metal deferred settlement contract cannot be carried out in our bank, but if the above customers still have positions at the time when our bank’s closing trading authority is implemented, they can only carry out closing transactions.
III. others
(I) ICBC will further restrict the agency of individual precious metal deferred settlement business according to the precious metal market risk, including reducing the position limit of individual customers’ precious metal deferred settlement contract, improving the risk evaluation level, stopping opening positions, closing positions on behalf of others, etc.
(II) the business adjustment described in this circular is regarded as a supplement to the agreement on bidding trading of precious metals on behalf of individual customers (version 2020). Please pay close attention to the notice published on our official website, obtain relevant information in time and take risk control measures.
