To whom it may concern:

To meet market needs and improve market efficiency, the Shanghai International Energy Exchange (INE) will make the following adjustments to the Trade at Settlement (TAS) orders, as from 8:55 p.m. on April 10, 2023:

1. The price range for TAS orders will be expanded to the underlying contract’s daily settlement price ± 2 yuan/barrel. TAS orders executed at above or below the contract’s price limit will be settled at the corresponding price limit;

2. The end of daytime trading hours for TAS will be extended from 10:15 a.m. to 11:30 a.m.;

3. TAS orders will now be available to the nearby contract and the three monthly contracts thereafter.

INE will release another circular if any further changes occur.

Appendix: Instructions on Trade at Settlement (TAS) Orders

Shanghai International Energy Exchange
March 29, 2023