BEIJING, Dec. 3 (Xinhua) -- Shanghai Futures Exchange (SHFE) is actively making preparations for the launch of non-ferrous metalindex futures, which has been submitted to the China Securities Regulatory Commission (CSRC) for approval, according to Jiang Yan, president of the SHFE, at the 14th China (Shenzhen) International Derivatives Forum in south China's Shenzhen on last Saturday.
In the development of commodity futures, the SHFE will introduce futures of product oil, natural gas and liquefied petroleum gas in terms of energy products, and futures of stainless steel, alumina and ferrochrome in terms of non-ferrous metals. The bourse will also introduce the No. 20 rubber futures, said Jiang.
In terms of opening-up to the outside world, Jiang said that the SHFE will increase the opening-up of the futures varieties. The No. 20 rubber futures will draw on the crude oil futures model and be denominated in yuan. In addition, the SHFE will consider introducing foreign investors into existing mature futures varieties.
In the internationalization, the SHFE will, on one hand, introduce foreign investors and make its rules, contracts and systems acceptable to international investors. On the other hand, the SHFE will cooperate with other overseas bourses to achieve interconnection of some products, Jiang added. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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