FIA has commented on the third set of draft Exchange Rules published by the Shanghai International Energy Exchange (INE). FIA had earlier commented on the INE’s first and second rules consultation.
Upon launch, the INE will be the first exchange in mainland China to offer trading of domestic futures contracts by overseas market participants. The first product proposed for launch will be crude oil futures.
FIA encouraged the INE to consider matters such as cross border regulation, operational implications of cross border trading, enhanced governance and further standardisation and transparency of rules. FIA has also previously urged the INE to consider recommendations in white papers and reports that FIA has published including the Guide to the Development and Operation of Automated Trading Systems and the FIA Global CCP Risk Position Paper. Members also urge the INE to consider and obtain "QCCP" status in various jurisdictions to attract and sustain international participation in its markets.
