镍期货及期权等获批境内特定品种 上期所迈出国际化新步伐

Core Viewpoint - The China Securities Regulatory Commission has announced the opening of nickel futures and options on the Shanghai Futures Exchange, marking a significant step in the internationalization of the exchange and enhancing the pricing influence of commodities in China [1][2]. Group 1: Nickel Futures and Options - Nickel futures have become the first directly open duty-paid non-ferrous metal futures product on the Shanghai Futures Exchange, indicating a key milestone in the exchange's internationalization process [1]. - Nickel is strategically important for industrial development and is an essential base metal for emerging industries, with China being the largest consumer and importer of nickel globally [1]. Group 2: Market Functionality and Risk Management - Since its launch in 2015, the nickel futures market has effectively played its role, with a close linkage between spot and futures prices, becoming a crucial reference for domestic spot trade pricing [2]. - The opening of the nickel futures and options market aligns with the long-standing calls from industry chain enterprises and associations, enhancing risk management capabilities in China's non-ferrous metal industry [2]. Group 3: Regulatory Framework and Future Developments - To ensure a smooth implementation of the opening, a comprehensive set of internationalized business rules will be officially implemented by August 8, 2025, focusing on strong regulation, risk prevention, and promoting high-quality development [2]. - The Shanghai International Energy Exchange has gradually opened specific products to foreign investors since 2019, with the introduction of options products enriching risk management tools for enterprises [3]. Group 4: Future Goals and Market Expansion - The Shanghai Futures Exchange is steadily advancing preparations for the opening of nickel futures and options, as well as other products, aiming to enhance the quality of market operations and attract various participants [3]. - The exchange plans to further diversify its international product offerings and improve operational quality through a series of measures, ultimately striving to become a "world-class exchange" [3].