China Financial Futures Exchange marked its second anniversary since its creation on September 8, 2006 but celebrations will have been muted — the exchange had still to launch its first contract or even set a prospective date for the launch.
Although the pace of product development in China has tended to be slow across the board, the continued dormancy of CFFE has led some commentators to wonder whether the exchange will ever take off.
The most frequently stated explanation for the lack of activity at China’s first financial futures platform has been the troubles in the country’s equity market; CFFE has said its first product will be an equity future based on the CSI 300 index of shares traded on the Shanghai and Shenzhen exchanges....