• The China Securities Regulatory Commission
(CSRC) said that it planned to complete preparatory work for the country's first
crude oil futures contract over the next three months. A commission
spokesperson said that the regulatory body would look into the policies of the
crude oil industry and examine and approve regulations and trading rules for
the Shanghai International Energy Exchange Corp.
• China’s CSRC formally released new regulatory
rules for overseas traders and brokerage companies participating in particular
types of futures trading, which would take effect from August 1.
• China plans to launch a yuan-denominated gold
fix by the end of the year through the Shanghai Gold Exchange (SGE), in a move
aimed at giving the world's biggest producer and leading consumer of bullion
more influence over pricing.
• SGE is in discussions with the CME Group on
listing each other's contracts on their respective exchanges. The Shanghai gold
bourse will list contracts and prices on CME in the first phase; in the second
phase, it will be vice versa, CME contracts and prices being listed on SGE.
• ICE announced that the ICE Benchmark
Administration (IBA) has approved the participation of two entities in the gold
auction, which is used to determine the LBMA gold price. The new participants
are Morgan Stanley and Standard
Chartered. Earlier, Bank of China got a nod to participate in
the gold auction.
• Diversifying its product suite, DGCX announced
the launch of three new unique contracts from June 5. These are: India Gold
Quanto Futures, Indian Rupee Quanto Futures, and Mini Dubai Polypropylene
Futures.
• Tokyo Commodity Exchange announced that it had
signed a license agreement with the London Bullion Market Association (LBMA) to
use LBMA’s Good Delivery List as part of its own accreditation procedures.
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