Original title: Crude oil options will be listed for trading in RMB denominated in RMB and will be fully open to foreign investors
Economic Daily News (Reporter Zhu Huichun) The China Securities Regulatory Commission has recently approved the listing of crude oil options on the Shanghai International Energy Exchange (hereinafter referred to as the previous energy) subsidiary of the Shanghai Futures Exchange.
The contract will be officially listed for trading on June 21, 2021.
Crude oil options are my country's first batch of options denominated in RMB and fully open to foreign investors.
Crude oil is the "blood" of modern economic and social development, a strategic resource related to the national economy and people's livelihood, and plays an important role in ensuring social development and national security.
In recent years, my country's demand for crude oil has continued to grow and its scale is huge.
At present, my country has become the world's second largest crude oil consumer and the largest crude oil importer.
With the support of all parties, the previous period of energy listed crude oil futures in 2018.
As the first domestic commodity futures open to the outside world, since the listing of crude oil futures, the market has been operating steadily, the scale has been steadily expanded, the investor structure has continued to be optimized, and its functions have been gradually brought into play.
Data show that in 2020, crude oil futures will trade 41,585,800 lots, with a total turnover of 11.
96 trillion yuan; the average daily position of crude oil futures by general legal persons has risen to about 42%.
According to the statistics of the Futures Industry Association (FIA), since 2018, Shanghai's crude oil futures trading volume has ranked third in the world.
With the deepening of domestic supply-side structural reforms, China's oil-related companies are transforming to high-quality development, and the demand for refined corporate risk management and diversification has risen, and the market's call for the introduction of crude oil options has increased.
In particular, the violent fluctuations in the international crude oil market in 2020 have given my country's oil-related companies a deeper understanding of strengthening risk management, and related demands have become stronger.
The listing of crude oil options and opening to the outside world can not only enrich the risk management tools of domestic and foreign oil-related companies, but also help companies improve their risk management levels and achieve sustainable development.
It also helps to make better use of futures market resources by complementing crude oil futures.
The role of allocation to promote the construction of Shanghai as an international financial center.
It is understood that when designing crude oil options contract rules in the previous period, Energy has always insisted on combining international experience and local advantages.
The contract rules better integrate the operating experience of domestic listed options and the characteristics of the opening of crude oil futures.
Last issue of Energy stated that the next step will be under the unified deployment of the China Securities Regulatory Commission, adhere to the principle of high standards and steady start, continue to earnestly prepare for listing, carry out in-depth market training and investment education, and ensure the smooth launch of crude oil options.