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Chinese Crude Oil Futures Are On The Market.

Zhangjiagang Sansu Machine Co.,Ltd | Updated: Mar 27, 2018

On March 26, 9 a.m., with a clear and crisp gong, futures varieties - China's first international crude oil futures listed formally in the center of the Shanghai international energy trade, marks the sails to the internationalization of the futures market in China.

In the 40th anniversary of the reform and opening up, as a major measure for a new era of reform and opening up, as the futures market services specific actions on the real economy, China's crude oil futures market, face the international investors, denominated in renminbi, to become China's capital market reform and opening up another milestone.

China's crude oil futures are denominated and settled in RMB, whose price reflects the cif price of imported crude oil, and provides effective risk management tools for domestic oil-related enterprises.

At the same time, crude oil futures will establish reflect the relations between China and the asia-pacific market supply and demand of crude oil pricing benchmark, but also to form the new pattern of financial market fully open, for global investors to provide more opportunities for the Chinese market and more abundant investment options.

According to the transaction data, the first batch of customers participating in the bidding of the group was 413, and the domestic and foreign institutions were involved.

At the opening 10 minutes, the economic daily reporter saw on the big screen of the opening ceremony, the volume of crude oil futures contract SC1809 exceeded 8000 hands.

"The price of SC1809 is now about the same as brent," a Taiwanese futures company official told reporters.

The popularity of the market is very strong, with more than 8,000 hands trading volume equivalent to China's daily crude oil imports.

By the end of 15th, the main crude oil contract SC1809 sold 4.07 million hands, with a turnover of 17.64 billion yuan.

Crude oil variety sold for 4.23 million hands, sold 18347 million yuan.

The listing of Chinese crude oil futures also makes the world pay more attention to "Shanghai price, Chinese voice".

"The opening price represents a first step toward Chinese crude futures," said Leo melamed, President of the Chicago mercantile exchange.

I wish the new market success!