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China sets margin, trading limit for yuan crude futures contract

The Shanghai International Energy Exchange, or INE, says it has set margins for China’s crude oil futures at 7 percent of contract value.

INE said the up-down trading limits for the crude oil futures would be set at 5 percent, although with the allowed range on launch day to be 10 percent either way.

INE set transaction fees for crude futures at 20 yuan ($3.16) per lot of 1,000 barrels.

China will launch its crude futures contract on March 26.

Currency conversion rates are to be based on the yuan to dollar exchange mid-point from the day before.
Source: Reuters (Reporting by Meng Meng and Josephine Mason; Editing by Tom Hogue)

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