Related News
Shanghai FTZ to launch copper swap clearing
Online Edition
Shanghai Clearing House is planning to launch copper-premium swap clearing business in the city’s pilot free trade zone, in a bid to provide a hedging tool for copper companies.
The Free-Trade-Zone Copper-Premium Swap Central Counterparty Clearing will be launched as early as the end of the year, Chen Guang, finance director of the clearing house, told a forum on Wednesday.
It will take Yangshan copper premiums index as a clearing basis and transactions will be priced and settled in yuan. Copper enterprises and financial institutions that have opened free trade accounts are qualified for the business. The clearing house will allow liquidity providers to facilitate the trading of the derivative.
“The swap will help copper-related companies to hedge against price volatility and thus serve the real economy,” Chen said.
China now is the world’s largest consumer of the metal. Chinese demand for cathode copper amounted to 9.4 million tons in 2013, according to the Shanghai Metals Market, a metal market information provider.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
