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2009 contract survey: Asia leads the way
31 March 2010
New contracts typically struggle to succeed. And they struggle all the more when times are tough. But, as Colin Packham discovers, while the majority of most new contracts in 2009 failed to attract interest, there were some notable winners, particularly in China.
Read more:
[FOW contrcat survey]
[new contracts]
[ELX]
[CME]
[SHFE]
[steel rebars]
[Nymex]
[agricultural derivatives]
New contracts typically struggle to succeed. And they struggle all the more when times are tough. But, as Colin Packham discovers, while the majority of most new contracts in 2009 failed to attract interest, there were some notable winners, particularly in China.
2009 marked the year that China arrived at the top table of global derivatives trading. Despite severe restrictions on trading by international market participants, the country was still home to the top two contracts introduced last year, and four of the top 20 exchange products listed in 2009.
Top of the pile was Shanghai Futures Exchange’s steel rebar contract, with annual trading totalling 161.57m contracts — in just eight months — following its introduction on March 27.
The success of SHFE coincided with China’s continued thirst for expansion.
The contract was so successful that it attracted more than 10 times the trading volume of its nearest competitor,...
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