Date: June 20, 2013
Source: Futures Daily

　　Yesterday, China Futures Margin Monitoring Center (CFMMC) released instructions on continuous trading of precious metal futures on Shanghai Futures Exchange (SHFE), and sent letters to futures margin depository banks, asking them to report every futures company’s margin balance recorded at 5:00 p.m. every day and the details of their withdrawal and deposit between 5:00 p.m. of the previous trading day and 5:00 p.m. of the current trading day.
　　According to the instructions, futures companies that participate in continuous trading should update their data reporting system to Version 4.0 or above of the “Requirements by Futures Margin Monitoring System on Futures Companies’ Reporting Data” before July 5, 2013. For those who fail to update at the due date, CFMMC will ask SHFE to ban their participation in continuous trading.
　　After implementation of the continuous trading system, each futures company should calculate their withdrawal and deposit during the period from 5:00 p.m. (excluded) on the previous trading day to 5:00 p.m. (included) on the current trading day into the settlement data on the current day. The withdrawal and deposit occurred after 5:00 p.m. on each trading day will be calculated into the settlement date of the next trading day. If the settlement starts before 5:00 p.m., withdrawal and deposite should be suspended until 5:00 p.m. If the settlement starts after 5:00 p.m., the withdrawal and deposite handled from 5:00 p.m. to the time of settlement should be calculated into the settlement data of the next trading day.
　　In addition, to avoid shch incidents as electronic clock error which could result in the situation that futures companies and banks put the same withdrawal or deposit into different trading days, all futures companies should avoid handling withdrawal or deposit 10 minutes before and after 5:00 p.m.