FINANCIAL TIMES: SIMULATION TRADING OF IMCI FUTURES RUNS SMOOTHLY IN 1ST MONTH

Updated on Jun 21,2014

June 21, 2014

By Gao Guohua

Since it was officially initiated on May 19, 2014, the simulation trading of the IMCI (Industrial Metal Commodity Index) futures of the Shanghai Futures Exchange (SHFE) has been running steadfastly and orderly, and the technical system has been functioning well. Up to June 18, a total of 9.317 million contracts had been traded, witnessing a total contract value of RMB 256.03 billion, and involving total 1,612 corporate and natural person simulation accounts.

The IMCI futures looks to be the first commodity index futures in China, with its benchmark indexes consisting of four futures contracts: copper, aluminum, zinc and lead. Total 5 contracts are listed this time in the simulation trading. The trading hours are 9:00 ~ 11:30 (morning session) and 13:30 ~ 15:15 (afternoon session) (closing hour 15:00 in the last trading day), night session is temporarily not opened during the simulation trading period.

The SHFE said that the IMCI futures is a necessary link in the listing of the non-ferrous metal index futures, and the SHFE will, actively advance the preparatory efforts for the final listing of the non-ferrous metal index futures.