Example 1:

Assume a client has no existing position on SC2308 and places a 

TAS order for 40 lots on SC2308 as “long, general, open”, which 

is then matched with an existing TAS order for short 15 lots at a 

price of 1.2 yuan/barrel. As a result, the client will hold 15 lots of 

long, general, and today’s position on SC2308. The remaining 25 

lots will be automatically canceled by the system if they cannot be 

matched by 11:30 a.m.

If at market close the settlement price of SC2308 is determined to 

be 560.7 yuan/barrel, then the 15 lots lled through the TAS order 

will be flnally traded at 561.9 yuan/barrel.

Example 2:

Assume a client has no existing position on SC2309 and submits 

a TAS “short, general, open” order for 10 lots. After 5 lots are lled 

at a price of -0.8 yuan/barrel, the client will hold 5 lots of short, 

general, and today’s position on SC2309. If now the client places 

and executes a limit order (not TAS) for 3 lots of SC2309 as “long, 

general, and close today”, the client will hold 2 lots of short, 

general, and today’s position on SC2309.

If at market close the settlement price of SC2309 is determined to 

be 559.6 yuan/barrel, then the 5 lots lled through the TAS order 

will be flnally traded at 558.8 yuan/barrel.

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