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Financials

Shanghai exchange unveils trading rules for LSFO futures contract

BEIJING, June 10 (Reuters) -

* China’s Shanghai International Energy Exchange (INE) published rules for the low-sulphur fuel oil (LSFO) futures on Wednesday, according to the exchange’s website

* The new futures contract, which will be launched on June 22, will be traded at 10 tonnes per lot, according to the Shanghai bourse

* The INE, a subsidiary of the Shanghai Futures Exchange, said daily price limits of LSFO futures are at 5% from the settlement price of the previous trading session and the minimum trading margin is 8% of the contract value

* The launch of LSFO futures will help with companies’ risk management in the industry and build a “low-carbon, safe and highly efficient energy system”, the Shanghai Futures Exchange said in a statement. (Reporting by Min Zhang and Emily Chow, editing by Louise Heavens)

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