The China Financial Futures Exchange (CFFEX), is a

futures exchange A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange. Futures contracts are derivatives contracts to buy or sell specific quantities of a commodity or f ...

established in Shanghai on September 8, 2006—with the approval of the State Council and the authorization of

China Securities Regulatory Commission The China Securities Regulatory Commission (CSRC) is a government ministry of the State Council of the People's Republic of China (PRC). It is the main regulator of the securities industry in China. History China's first Securities Law was ...

(CSRC). It is a joint venture of the

Zhengzhou Commodity Exchange Zhengzhou Commodity Exchange (ZCE; ), established in 1990, is a futures exchange in Zhengzhou, one of the four futures exchanges in China. The ZCE is under the vertical management of China Securities Regulatory Commission (CSRC). Products ZCE s ...

, Shenzhen Stock Exchange and the Shanghai Futures Exchange. Following the principle of higher starting point and higher standard, CFFEX constructed an electronic market which follows the trend of global development. Also CFFEX has a unique multi-tiered members'

clearing system A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, instruments, people, rules, procedures, standards, and technologies that make its exchange possible.Biago ...

, strict risk management policy and an organization structure like a corporation to improve its competitive strength and development potential. In early 2008, it launched the

CSI 300 The CSI 300 () is a capitalization-weighted stock market index designed to replicate the performance of the top 300 stocks traded on the Shanghai Stock Exchange and the Shenzhen Stock Exchange. It has two sub-indexes: the CSI 100 Index and the C ...

index futures, the first contract of CFFEX. Later, CFFEX introduced government bond futures and futures on the

SSE 50 Index SSE 50 Index is the stock index of Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others ...

and the CSI 500 Index. The exchange has plans for other financial derivatives such as other index futures, index options, and currency futures. CFFEX launched its first product by conducting trading systems testing and running a series of programs to educate investors about risks.

References

External links

China Financial Futures Exchange
- Official Website {{World Federation of Exchanges Financial services companies established in 2006 Commodity exchanges in China Futures exchanges Chinese companies established in 2006