Hexun: The SHFE Awarded China’s Best Futures Exchange of the Year

Updated on Sep 29,2014

Hexun: The SHFE Awarded China’s Best Futures Exchange of the Year

September 29, 2014

By Qiao Jing

It is announced at the Round-table Forum and the Singaporean Banquet of the FOW (Futures and Options World) magazine that the Shanghai Futures Exchange (SHFE) was awarded the “China’s Best Futures Exchange of the Year” and its bitumen product was awarded the “Best New Product of the Year”. In addition, the GF Futures won the “China’s Futures Company of the Year”, which was once won by Nanhua Futures in 2013.

The FOW is an international authority subordinated to Euromoney Publishing Group that specializes in professional futures and options magazines and provides industry data and conference services. It has over 30 years of operational experience and resources accumulation all over the world and has held the selection of the annual best exchanges and futures traders in the world, which has been widely recognized by global financial institutions.

The FOW said that the crude oil futures will be the first commodity futures that is listed in China’s mainland and can be involved by foreign investors, which is of great significance to the SHFE and the liberalization process of China’s financial market. On November 22, 2013, Shanghai International Energy Exchange (INE) officially settled in China (Shanghai) Pilot Free Trade Zone (SHFTZ).

Previously, Chu Juehai, Vice President of the SHFE and CEO of the INE, said at the China SHFTZ’s 1st Anniversary Symposium of the “Shanghai Financial Forum” that the global crude oil price system needs the market price center of a 3rd 8-hour time zone – the Asian-Pacific region apart from those in North America and Europe, so as to form a continuous 24-hour trade risk hedging mechanism together with the European and American trade markets, which will ensure the stable and sound economic development of the Asian-Pacific region and bring convenience for global investors to manage price risk management effectively and timely. And the great changes of the world energy structure are one of the important reasons of building the INE.

Besides, the FOW mentioned that the SHFE’s bitumen futures is the first bitumen contract in the world, which is an important try as the bitumen takes up a relatively low proportion in the energy consumption.