2021-05-26
By Emily Chow
SHANGHAI, May 26 (Reuters) - A subsidiary of the Shanghai Futures Exchange (SHFE) will list crude oil options on June 21 and make them available to international traders, SHFE Chairman Jiang Yan said on Wednesday at the 18th Shanghai Derivatives Market Forum.
The subsidiary, Shanghai International Energy Exchange (INE), said on May 6 it would conduct a mock test of crude oil options trading from May 10 to May 21.
INE, in a separate May 6 statement, said it had drafted crude oil options contract specifications and had sought public consultation.
The exchange will speed up the listing of other contracts including alumina, ferrochrome, synthetic rubber, refined oil, natural gas, naphtha, corrugated paper, woodfree paper and electric power, Jiang said.
The SHFE continued to promote overseas delivery of its contracts and was exploring the "likelihood of setting up overseas warehouses," Jiang said.
He added the exchange would continue research and development of products open to foreign participation such as freight index futures.