-0.9 C
New York
Thursday, December 9, 2021

Shanghai Futures Exchange Says It’s Close to Adding Night Trade

The Shanghai Futures Exchange is close to adding after-hours trading in a bid to become a more global marketplace, an official at the bourse said today.

The time period for night trading will depend on the views of China’s securities regulators, said the official from the exchange’s communication department, who asked that he not be identified because he isn’t authorized to speak to the media.

The SHFE faces rising competition after Hong Kong Exchanges and Clearing Ltd. (388)acquired the London Metal Exchange last year, with plans to start trading and clearing LME products during Asian hours. The Shanghai bourse, the nation’s biggest commodity exchange by the value of contracts traded, is also preparing for crude oil futures.

The SHFE would explore “win-win” cooperation opportunities with the HKEx, Chairman Yang Maijun said in an interview on March 8. China should accelerate opening commodities futures to overseas investors and set detailed regulations to allow local firms to hedge on overseas markets, Yang, a delegate of the National People’s Congress, said in proposals to the nation’s top legislature.

The exchange is close to adding night trading from 9:30 p.m. to 2:30 a.m. local time, Yang said at a press conference in Beijing, the Shanghai Securities News reported today.

SHFE trades copper, aluminum, zinc, lead, natural rubber, fuel oil, steel, gold and silver futures.

Source: Bloomberg

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected

- Advertisement -

Latest Articles

Popular Articles