INE prepares to sell yuan-denominated VLSFO futures on June 22

摘要

The International Energy Exchange (INE)of China won approval for the launch from the China Securities Regulatory Commission on May 29.Simulated trading of the 10-mt lots is scheduled to run during June 1-12,with the official launch on June 22.Specifications for the contract's product include a maximum sulfur content of 0.5%,a viscosity of 100-380 est,and a density no greater than 0.991 kg/m~3.Trading will begin with the Jan.2021 contract.The INE is expected to use its main HSFO delivery points-storage in eastern China's Yangshan and Zhoushan-in the delivery process for the new VLSFO contract.The HSFO market's liquidity has declined since the Jan.implementation of the IMO's 0.5%-sulfur cap for marine fuels,so financial firms are said to be eager to trade the new product.