Anybody wants to trade the to-be-listed crude oil futures in China ?

[lx008]

https://www.reuters.com/article/us-china-oil-idUSKBN19W0N5
"

China has opened more than 6,000 trading accounts for its long-awaited crude futures contract - with three-quarters coming from individual traders - as it pushes ahead with plans to compete with global pricing benchmarks.

China's oil majors and about 150 brokerages have also registered, but the strong interest by 'mom-and-pop' investors looks set to mark out China's crude futures from western counterparts, which are dominated by institutional investors.

Shanghai International Energy Exchange (INE), which will run China's contract, says it is finalizing technical issues. The contract has faced years of delays and there is still no set date, but INE and also trading participants now say a launch this year is almost certain.

"The INE is striving to launch the crude oil futures within this year," a spokeswoman said, adding that the exchange has conducted four trials to ensure it is technically ready.

"

 

[MattZ]

I doubt they can get to the CME and ICE level in liquidity when they launch.

 

[sle]

Is it going to be CNY denominated? What flavor will it be linked to?

https://www.reuters.com/article/us-china-oil-idUSKBN19W0N5
"

China has opened more than 6,000 trading accounts for its long-awaited crude futures contract - with three-quarters coming from individual traders - as it pushes ahead with plans to compete with global pricing benchmarks.

China's oil majors and about 150 brokerages have also registered, but the strong interest by 'mom-and-pop' investors looks set to mark out China's crude futures from western counterparts, which are dominated by institutional investors.

Shanghai International Energy Exchange (INE), which will run China's contract, says it is finalizing technical issues. The contract has faced years of delays and there is still no set date, but INE and also trading participants now say a launch this year is almost certain.

"The INE is striving to launch the crude oil futures within this year," a spokeswoman said, adding that the exchange has conducted four trials to ensure it is technically ready.

"

 

[murray t turtle]

Well China Petroleum + Chemical [SNP ]is rated better than SNAP; so low volume could trump SNAP. WTI may still be king...............................................................

 

[Overnight]

...

"The INE is striving to launch the crude oil futures within this year," a spokeswoman said, adding that the exchange has conducted four trials to ensure it is technically ready."

Wouldn't trust the INE with a 39 1/2 foot pole! (X-Mas is coming!)

 

[murray t turtle]

Wouldn't trust the INE with a 39 1/2 foot pole! (X-Mas is coming!)

%%
It could work real well, if they let the NYSE or CME run it.Their hog contract$ could work better, since some people like non kosher hogs.IBD has rated BIDU well / wise, havent looked @ it it the last 5 minutes. I read a Bloomberg news note, sounds like they may need to fix all the mini contracts/ retail.

 

[Overnight]

%%
It could work real well, if they let the NYSE or CME run it...

I don't see how a US exchange could "run" the INE. I be sticking with the WTI on NyMex. If and when China starts trading their product on the market, we'll take heed. But what kind of future will they be offering? Light sweet or heavy sour, or something in between?

 

[lx008]

Is it going to be CNY denominated? What flavor will it be linked to?

Medium Sour Crude Oil

you can see it here


http://www.ine.cn/en/products/oil/standard/index_2.html


Product
Medium Sour Crude Oil
Contract Size
1000 barrels per lot
Price Quotation
(RMB) Yuan per barrel
(no tax or duty included in the quotation)
Minimum Price Fluctuation
0.1 Yuan / barrel
Daily Price Limits
±4% from the settlement price of the previous trading day
Listed Contracts
Monthly contracts of recent twelve (12) consecutive months followed by eight (8) quarterly contracts.
Trading Hours
9:00-11:30 a.m., 1:30-3:00 p.m. (the Beijing Time), and other trading hours as prescribed by the Exchange
Last Trading Day
The last trading day of the month prior to the delivery month; The Shanghai International Energy Exchange is entitled to adjust the last trading day in accordance with the national holidays.
Delivery Period
Five (5) consecutive trading days after the last trading day.
Grades and Quality Specifications
Medium sour crude oil with the quality specifications of API 32.0 degrees and sulfur content 1.5% by weight
The deliverable grades and the price differentials willbe stipulated separately by the Shanghai International Energy Exchange.
Delivery Venues
Delivery Storage Facilities designated by the Shanghai International Energy Exchange
Minimum Trading Margin
5% of contract value
Settlement Type
Physical delivery
Product Symbol
SC
Listing Exchange
Shanghai International Energy Exchange