SMM News: according to the Shanghai International Energy Trading Center, the Shanghai International Energy Trading Center issued a notice on the minimum balance of settlement reserves for members of futures companies. In accordance with the relevant provisions of the settlement rules of the Shanghai International Energy Trading Center, the Shanghai International Energy Trading Center has decided through research:
1. The minimum balance of the settlement reserve for members of a futures company shall be RMB 2 million yuan (including settlement entrusted by special overseas participants and overseas intermediary institutions).
2. If a member of a futures company accepts the entrustment of a special overseas participant for settlement, the minimum balance of the settlement reserve for the corresponding entrusted settlement internal detailed account shall be adjusted to zero yuan.
3. Members of a futures company who have previously handled an increase in the balance of the minimum settlement reserve may, from the date of publication of the notice, go through the corresponding payment formalities at the counter of the settlement department by the holder of the certificate and the attached form. The deadline for processing the payment is August 9, 2019 (including the same day), and the processing time is 9: 00-14-30 on the working day.
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