Exchange said to be ready to launch first Chinese crude future this year
The Shanghai International Energy Exchange
(INE) plans to force non-Chinese trading
firms to use Chinese brokers to access its
market when it launches China's first crude oil futures
contract later this year, according to sources.
The INE, which has not set a date for
launch, is said to be ready to start trading its
land-mark crude oil futures contract this year but non-Chinese
trading system firms will not, at least initially, be able to
trade directly on the Chinese market, meaning their
trading clients will have to use a Chinese broker.
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