EXPERT VIEW: Oil futures trading in China will pave way for metals

摘要

Domestic Chinese trading is preparing for a shake-up after the new International Energy Exchange (INE), a subsidiary of the Shanghai Futures Exchange (SHFE), has announced it will allow non-Chinese companies to trade crude oil futures contracts.Following the release of a one-line statement from the China Securities Regulatory Commission (CSRC) on February 9 that announced the launch of domestic crude oil trading on March 26, a minor earthquake for the oil industry and in the medium term for all commodities took place. The INE has said non-Chinese companies will be allowed to participate in trading crude oil futures contracts, priced in RMB using USD as the initial margin.