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Recently, the China Securities Regulatory Commission 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 China's first batch of options denominated in RMB and fully open to foreign investors.
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.
In recent years, China's demand for crude oil has continued to grow and the scale is huge, and it has become the world's second largest crude oil consumer and the largest crude oil importer.
Last Energy listed crude oil futures in 2018.
"Since Shanghai crude oil futures was listed for three years, the contract has begun to show its scale in terms of trading volume, open interest, and the number of market participants.
The functions of futures contracts in price discovery and risk management have gradually emerged.
In the current complex macroeconomic situation, how to manage crude oil price risk is particularly important.
"Based on international options trading experience, the launch of commodity options can manage crude oil price risks in multiple dimensions.
The launch of crude oil options is an indispensable part of improving China's energy derivatives system.
Especially since the violent fluctuation of crude oil prices in 2020, Shanghai crude oil futures have received more attention and participation from Asian and even global markets.
The listing of crude oil options is of great significance to corporate risk management.
Compared with futures, option gains and losses have non-linear characteristics.