Magazine article Modern Trader

International News

Magazine article Modern Trader

International News

Article excerpt

FIN FUTURES OKAY IN CHINA

China looks set to begin trading futures on the Shanghai-Shenzhen 300 index in September now that the China Securities Regulatory Commission (CSRC) has licensed more than 40 brokerages to trade on the China Financial Futures Exchange (CFFE), the state-run China Securities Journal reported in mid-August. The index will initially be offered only to Chinese investors, but a number of U.S. investment banks have entered into agreements with Chinese brokers to market within China.

HONG KONG WEIGHS COMMODITIES

The government of Hong Kong has commissioned a study on the viability of launching commodity futures on HKEx, beginning with crude oil. The economic need for such a contract is open to debate - but even more questionable is appetite among Hong Kong speculators for commodity-based investments.

CARGILL EXPANDS

Cargill looks set to take full ownership of Hungarian grain and oilseed trading company Agrograin, the former government-owned national exporter, in which Cargill has had a stake since 1995.

AUSSIES MOVE ON CARBON CAP

Australia's federal government looks set to launch a nationwide, mandatory capand-trade scheme for carbon emission allowances - despite Prime Minister John Howard's opposition to the Kyoto Protocol. As in the United States, regional voluntary schemes have won wide nominal support in Australia, but have failed to attract the kinds of volumes seen in compliance markets like the European Union Emissions Trading Scheme.

MORE DOLLAR PALM OIL

Bursa Malaysia says it's launching a dollar-denominated crude palm oil (CPO) futures contract in September to run alongside its successful ringgit-denominated contract - and compete with the dollar-denominated contract running on the Joint Asian Derivatives Exchange (JADE), a joint venture between Singapore's SGX and the CBOT. …

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