China still awaits new futures

08 Dec 2003

Two years after China joined the World Trade Organisation, the country's futures industry is still waiting for the deregulation that was to lead to a slew of financial products.

Shanghai Futures Exchange (SHFe) has had plans for equity index, energy, and bond futures for some time, while Shanghai Stock Exchange (SSE) hopes to launch exchange traded funds...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

The CFTC's Michael Dunn pleads for Congressional support over the regulator's budget.