Updates with background, particulars BEIJING/SHANGHAI, Nov
Updates with background, particulars
BEIJING/SHANGHAI, Nov 20 (Reuters) – China’s securities market regulator stated on Friday it should give international buyers entry to commerce its palm oil futures contract DCPcv1 on the Dalian Commodity Change from Dec. 22.
Gao Li, a spokeswoman for the China Securities Regulatory Fee, had made the announcement at a press briefing in Beijing.
This might be China’s seventh internationalized commodities futures contract, following its launch of a brand new bonded copper contract on Thursday.
The Dalian alternate was earlier searching for suggestions on the opening up of its palm oil futures contract in October, consistent with China’s broader ambitions to grow to be a commodities pricing energy.
Overseas corporations and buyers presently have restricted entry to China’s commodities markets. Different Chinese language contracts open to international participation to this point embody crude oil, TSR 20 rubber, low-sulphur gas oil, iron ore and purified terephthalic acid.
A senior Dalian alternate official stated final yr that the alternate would additionally ultimately open up its soyoil and soymeal contracts, in addition to one among its soybean futures contracts.
The worldwide benchmark palm oil contract FCPOc3 is traded on the Bursa Malaysia Derivatives Change.
(Reporting by Jenny Su and Emily Chow; Modifying by John Stonestreet and Jacqueline Wong)
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