Core Viewpoint - The listing of the "Shanghai Natural Rubber Futures" contract on the Osaka Exchange (OSE) marks a significant step in the internationalization of "Chinese prices," providing diversified pricing information and risk management tools for enterprises in China and abroad [1][4]. Group 1: Market Development - The "Shanghai Natural Rubber Futures" contract is based on the settlement price of the Shanghai Futures Exchange (SHFE) and is settled in Japanese yen, utilizing a cash settlement method [1]. - The introduction of this contract allows the "Chinese price" to be transmitted to more countries and regions, enhancing the connectivity between the capital markets of China and Japan [1]. Group 2: Market Participation - OSE has received support from major brokers and market makers for the newly listed SHFE natural rubber futures product, with at least seven market makers registered to ensure smooth trading [2]. - Shenzhen Qianhai Jingyou Trading Co., a Chinese market maker, is among those participating, leveraging its proprietary trading risk control system for market-making activities [2]. Group 3: Opportunities and Challenges - The company involved in market-making sees significant potential in the internationalization of "Chinese prices" and has proactively engaged with OSE to establish market-making arrangements [3]. - Challenges include delays in market data transmission, coordination difficulties among international custodians, and technical bottlenecks due to a three-tier settlement structure [3]. Group 4: Internationalization Practices - The authorization of the futures delivery settlement price is a crucial practice for the internationalization of "Chinese prices," allowing foreign exchanges to directly use domestic futures contract settlement prices [4]. - The listing of the "Shanghai Natural Rubber Futures" contract on OSE is part of a broader trend, following similar initiatives with other commodities, enhancing global investors' ability to reference and utilize SHFE prices for investment and risk management [4].