上衍论坛｜上海航交所顾云凤：欧线集运指数期货成交量居全球航运指数衍生品首位

Core Insights - The European shipping index futures have the highest trading volume globally among shipping index derivatives, with a total transaction amount of RMB 4.7 trillion as of April 30, 2025, and an average daily transaction amount of RMB 11.5 billion [1][2]. Group 1: Market Performance - The European shipping index futures have experienced significant price volatility due to the impact of the Red Sea shipping crisis, but the price difference between the futures and spot contracts has been controlled within 1% for the seven contracts that have been delivered [2]. - The index futures have demonstrated their price discovery and hedging functions, becoming essential tools for foreign trade logistics companies to manage price fluctuations and for shipping companies to reference for forward pricing [2]. Group 2: Industry Context - The shipping industry plays a crucial role in international trade, ensuring the smooth operation of goods trade and international logistics supply chains, which highlights the urgent need for risk management tools like shipping index futures to help companies navigate market uncertainties [2]. - The Shanghai Futures Exchange has enhanced China's pricing capabilities in the global commodity and service markets through product innovation, service optimization, and risk management initiatives, contributing to the high-quality development of the real economy [1].