Shanghai Futures Exchange (SHFE): Notice Regarding Management of Trading Permissions for Nickel Futures and Options Contracts

The China Securities Regulatory Commission has determined to include our nickel futures and options in specific onshore products and introduce them to overseas traders. Starting from today, eligible clients may apply to their account-opening institutions (including futures company members, overseas special brokerage participants, and overseas intermediary institutions) to obtain authorization to trade nickel futures and options contract trading rights. Account-opening institutions shall, in accordance with the relevant requirements of the “Measures for the Suitability Management of Traders of the Shanghai Futures Exchange” and the “Operational Guidelines for the Suitability System for Futures Traders of the Shanghai Futures Exchange,” manage client suitability and the trading authorization for the corresponding contracts. The specific details are as follows:

For domestic clients that have already obtained trading permissions for nickel futures and options contracts before the issuance of this notice, account-opening institutions may refrain from re-assessing their suitability and need not revoke the trading permissions for the relevant contracts.

For domestic clients that apply to obtain trading permissions for nickel futures or options contracts after the issuance of this notice, account-opening institutions may grant trading permissions for the corresponding contracts if the clients pass the suitability assessment or meet the conditions for exemption from the suitability assessment.

For overseas clients that open accounts after the issuance of this notice, account-opening institutions shall ensure that client suitability assessments are conducted and that the trading permissions for the corresponding contracts are properly configured.