Core Viewpoint - The Osaka Exchange (OSE) will launch Shanghai natural rubber futures contracts on May 26, 2025, providing a new hedging tool for global participants and enhancing market collaboration [1][2] Group 1: Contract Specifications - The new contract will be based on the Shanghai Futures Exchange's natural rubber futures prices, denominated in Japanese yen, and will utilize a cash settlement model [1] - The contract will target the most active trading months of January, May, and September from the Shanghai Futures Exchange [1] - Trading hours will be from 9:00 to 15:45 and 17:00 to 19:00 Tokyo time, with the day session starting one hour earlier and the night session five hours earlier than the Shanghai Futures Exchange [1] - The contract unit will be measured in index points rather than tons, with a minimum price fluctuation of 5 points and a contract value calculated as contract points multiplied by 100 yen [1] - The price limit will be set at ±10%, higher than the Shanghai Futures Exchange's ±6% limit [1] Group 2: Market Strategy and Support - OSE aims to provide an effective hedging tool for participants managing rubber price volatility, particularly those holding rubber inventory in China or trading rubber-related products in RMB [2] - To ensure successful listing, OSE is focusing on market access and liquidity, with several major brokers and market makers already prepared to support the new contract [2] - At least seven market makers have registered to provide continuous buy and sell quotes to facilitate smooth trading [2] - OSE will waive trading and clearing fees for the Shanghai natural rubber futures contract until the end of December 2025 to attract more investors [2] - OSE expresses the expectation that the new contract will inject innovative tools into the global rubber market, enhancing supply chain resilience and promoting industry growth [2]

Group 1 - The U.S. Commodity Futures Trading Commission (CFTC) will provide perpetual futures trading for cryptocurrency [1] - CFTC has already received relevant applications for this trading [1]

Group 1 - CME is negotiating to establish a warehouse in Hong Kong to enhance its presence in the Asian market [1] - This move follows the London Metal Exchange's (LME) inclusion of Hong Kong in its global warehouse network earlier this year [1] - CME is considering adding Hong Kong to its physical delivery network for aluminum futures contracts, which could provide clients with more convenient delivery options [1]

美国芝加哥商品交易所（CME）效仿伦敦金属交易所（LME）的做法，也洽谈在中国香港成立仓库。 ...

Group 1 - The CME Bitcoin futures main contract increased by 1.35% to $107,000 compared to the previous New York close [1] - The CME Ether futures main contract decreased by 0.38% to $2,518.50 [1] - Options traders are holding a significant number of open contracts betting that the price will rise to $300,000 by June 27 [1] Group 2 - The growth in open contracts on Deribit is focused on Bitcoin contracts that predict a rise above $110,000 [1]

Core Insights - The Chicago Mercantile Exchange (CME) has updated its energy commodity trading volume report as of May 19 [1] Group 1 - The report provides insights into the trading activity of energy commodities on the CME [1]

Group 1 - Moody's downgraded the US sovereign credit rating from Aaa to Aa1 due to increased government debt and interest payment ratios, marking the first time all three major rating agencies have downgraded the US [2] - The US Treasury reported that Japan increased its holdings of US Treasury bonds by $4.9 billion to $1,130.8 billion, while China reduced its holdings by $18.9 billion to $765.4 billion, dropping from second to third place [2] - The net inflow of overseas investments in US securities and banking flows totaled $254.3 billion in March [2] Group 2 - The National Information Center reported positive trends in consumption, investment, and industrial production since April, with excavator sales up 17.6% year-on-year and offline consumption heat index up 25.4% [3] - The first round of high temperatures in northern China is expected to reach historical highs, with temperatures in some areas exceeding 40°C [4] - The 34th Harbin International Economic and Trade Fair opened with over 1,500 companies from 38 countries and regions participating [4] Group 3 - Guoxuan High-Tech announced the completion of its first solid-state battery pilot line with a design capacity of 0.2 GWh and has started the design work for a 2 GWh production line [5] - Tencent's Hong Kong-listed company Dreamland Technology plans to raise HKD 72.18 million through a share placement, leading to a significant drop in its stock price [5] Group 4 - China's J-10CE fighter jet achieved its first combat success by shooting down multiple enemy aircraft without sustaining any losses, attracting global military attention [6] - The Ministry of Industry and Information Technology highlighted the rapid development of 5G applications across various sectors, with 5G technology covering 86 out of 97 national economic categories [6] - In the bond market, several funds have recently launched with significant subscription sizes, indicating strong investor interest [6] Group 5 - The recent adjustment of interest rates by commercial banks has led to a decrease in deposit rates, which may further lower the comprehensive financing costs for the real economy [7] - The China Communications Enterprise Association and the China Internet Association announced ten initiatives to improve information communication services by 2025 [8] - Shanghai is formulating policies to promote high-quality development in the software industry, focusing on growth incentives and cost reduction for enterprises [8] Group 6 - The global shipping market has seen a surge in orders from China to the US, with a 275% increase in shipping orders and a projected 22% rise in cargo imports at the Port of Los Angeles [8] - The International Low Altitude Economy Cooperation Alliance was established in Shenzhen, aiming to set global standards for low-altitude economic cooperation [8] Group 7 - The establishment of the first clinical ward for brain-computer interface technology in China aims to provide innovative treatments for patients with neurological disorders [9] - The successful launch of the Zhuque-2 rocket marks a significant achievement in China's commercial space endeavors [9] Group 8 - China Telecom, China Mobile, and China Unicom have initiated the construction of a computing power internet experimental network to enhance the interconnectivity of computing resources [10] - Moutai Group and Wuliangye Group have agreed to strengthen cooperation in response to the cyclical adjustments in the liquor industry [10] - Xiaomi's president revealed plans to integrate its self-developed chip into various products beyond smartphones, aiming for significant market positioning in the air conditioning sector [10] Group 9 - Nissan is considering closing its main assembly plant and a subsidiary due to rationalization measures, which could impact about 30% of its domestic production capacity [11] - The autonomous driving technology company WeRide announced the launch of eight autonomous driving service routes in downtown Guangzhou, marking a national first [12] Group 10 - Japan is considering subsidies for Tesla to build charging stations as part of ongoing tariff negotiations with the US [13] - The European Central Bank expressed confidence in achieving a 2% inflation rate this year, with tariffs potentially impacting inflation in the short term [14]

Group 1 - The London Metal Exchange (LME) is considering imposing limits on large positions to prevent market disruptions caused by oversized holdings in recent months [1] - The LME provides global benchmark prices for major industrial metals such as aluminum, copper, and nickel [1] - Informal discussions are ongoing with market participants regarding appropriate position limit levels [1] Group 2 - The responsibility for setting position limits in the UK commodity market will shift from the Financial Conduct Authority (FCA) to individual exchanges starting July 2026 [1] - The LME may formally propose position limits to the market before the FCA's transition date [1]

智通财经5月16日电，伦敦金属交易所（LME）讨论设定仓位限制以遏制过度投机行为。LME将从2026 年7月起负责设定限额，拟防止持仓规模超过总库存量。 ...

Core Insights - The CME Group has updated its energy commodity trading volume report as of May 12 [1] Group 1 - The report is available for viewing on the Jin10 data center [1]