Instant ignition for Shanghai fuel oil futures

30 Aug 2004

Shanghai Futures Exchange (SHFe)'s fuel oil futures contract was launched on 25 August with 91,500 lots traded, immediately making it the exchange's most active contract on the day.

A senior futures broker told FO Week, "Everyone in Asia, especially in Singapore, is monitoring the development". He added that...

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“The introduction of these contracts to trading represents a new stage in developing the Russian market in fixed income instruments as in essence futures on federal bonds are derivatives on long-term interest rates.”

Evgeny Serdyukov, director of F&O at RTS