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China Securities Journal: The Membership of 92 Futures Firms Approved by Shanghai International Energy Exchange

 

China Securities Journal: The Membership of 92 Futures Firms Approved by Shanghai International Energy Exchange

Reported by Guan Ping, Journalist of China Securities Journal

On May 31st, 2017, Shanghai International Energy Exchange (“INE”), a subsidiary of Shanghai Futures Exchange, released an announcement on the approval of the membership of 92 futures firms, including Zhao Jin Futures (See the website of the INE for details).

 

Sources say, after publishing the Business Rules of Shanghai International Energy Exchange for Crude Oil Futures on May 11th, the INE formally receives the membership enrollment application by releasing the Notice on the Launch of the Membership Enrollment Application by Shanghai International Energy Exchange on May 16th, 2017. Following the consideration by the Board of Directors on May 31, 2017, the INE has, in the order the application materials were received, approved the membership of 92 futures firms pursuant to the Membership Management Rules of the Shanghai International Energy Exchange and relevant provisions.

 

Next, the INE will offer the one-stop service to the futures firms in the membership enrollment through centralized handling of business. In accordance with the provisions of the Futures Trader Suitability System, relevant futures firms shall evaluate the futures knowledge level and risk tolerance of clients, select appropriate clients and prudently participate in the futures trading in a bid to proactively prepare for the following mock test of the INE.

 

For the next stage, the INE will carry on all the preparatory work for the listing of crude oil futures, including the development of members and OSPs, membership approval, receipt of the qualification application from banks, delivery warehouses and assayers, across-the-market mock trading and widely covered investor education. The INE aims at launching the contract within this year, after getting all the preparatory work done in a proactive and prudent manner.

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