Example: On a given day the lower price limit of SC2311 is 551.2 

yuan/barrel. Assume a client has no existing position on SC2311 

and submits a TAS “short, general, and open” order for 10 lots on 

that day. Once 5 lots of the order are filled at -2.0 yuan/barrel, the 

client will hold 5 lots of short, general, and today’s positions on 

SC2311.

At market close the settlement price of SC2311 is determined to 

be 552.9 yuan/barrel. Because the rules of the Exchange say that 

the transaction price of TAS orders may not exceed the upper or 

lower limit price of the contract, the 5 lots lled through the TAS 

order will be flnally traded at 551.2 yuan/barrel.

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