SHFE launches emulation trading of nonferrous metals index futures Mon.
BEIJING, May 19 (Xinhua) – China's Shanghai Futures Exchange (SHFE) officially launched the emulation trading of nonferrous metals index futures on Monday.
SHFE introduced the nonferrous metals index (SHFE-IMCI) at the end of 2012.
The SHFE-IMCI selects copper, aluminum, zinc and lead as the components and the index's base point is 1,000 with the base period on January 7, 2002.
The IMCI has not only reflected the situation of the entire nonferrous metals industry, but also serves as a measurement for investment. The introduction of the SHFE-IMCI will help explore investment opportunities in the metals sector and gradually improve its pricing power on the metals, said the exchange.
The emulation trading of nonferrous metals index futures will provide members and investors with a platform to get familiar with business rules and have a better understanding of the commodity index futures market, according to relevant officials of the exchange.
In 2013, the transaction volume of the nonferrous metals futures contracts in the SHFE exceeded 150 million lots with value at 35.8 trillion yuan. (Edited by Hu Pingchao, firstname.lastname@example.org)