Committee in place, index futures to launch in October
China has taken steps towards developing a dedicated
financial futures exchange in the region, sources close to the
matter have told FO Week.
Five Chinese exchanges, Shanghai Stock Exchange,
Shenzhen Stock Exchange, Shanghai Commodity Exchange, Dalian
Commodity Exchange and Zhengzhou Commodity Exchange were to
become joint partners in the new venture, each taking a 20%
ABN Amro's MD, regional head of Asia, Steve Ng, told FO
Week that in order to launch a contract quickly, the new
exchange would make use of the facility at one of the
According to Ng, a stock index futures contract has been
scheduled to begin trading on this interim market in October of
this year. He said he believed that the new exchange would
build its own infrastructure at a later date.
Details of a timetable for the new exchange were
sketchy, but sources have predicted a launch in either late
2006 or early 2007 as most likely.
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