28 November 2012 07:49 [Source: ICIS news]
SINGAPORE (ICIS)--China Securities Regulatory Commission (CSRC) has approved glass futures trading, which will be launched on Zhengzhou Commodity Exchange, a statement from CSRC said on Wednesday.
To ensure a smooth launching of the trading, CSRC has finalised the standard glass futures contract, confirmed the trading and settlement system, and discussed control measures of deposit and position limits, the statement added.
Although the actual launching time has not been announced by CSRC, the trading will be launched as soon as possible when all paper works and processes finished, the statement said.
CSRC is also preparing futures trading of coking coal, vegetable seeds, potato and egg. However, the launch schedule has not been specified.
“Glass futures trading will give a direction for soda ash market traders as soda ash is a major feedstock for glass. The futures market will indicate demand, which can give us a signal for the market of materials such as soda ash,” said an industry source from the soda ash market.
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