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Center for trading energy futures unveiled tomorrow at FTZ
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THE Shanghai International Energy Trade Center will be officially unveiled inside the city's pilot free trade zone tomorrow, a senior official said today.
Jointly financed by the Shanghai Futures Exchange and the Shanghai Futures Information Technology Co, the center is designed to become a platform for long-awaited crude oil futures trading.
"After the establishment of the center, preparatory works for crude oil futures will be accelerated," said Shanghai Vice Mayor Zhou Bo at the second China International Oil and Gas Trade Congress held in the city.
The Shanghai International Energy Trade Center has registered capital of 5 billion yuan (US$821 million), making it the largest financial company set up in the FTZ so far.
The new center will become China's fifth national futures exchange, joining the Shanghai Futures Exchange, the Zhengzhou Commodity Exchange, the Dalian Commodity Exchange and the China Financial Futures Exchange.
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