SHFE and INE Won Two International Awards

The winners of the FOW Asia Pacific Awards 2024 and Energy Risk Asia Awards 2024 have been announced. Shanghai Futures Exchange (SHFE) won the "Exchange of the Year-Commodities" award presented by FOW, while the Shanghai International Energy Exchange (INE) was awarded the "Innovation of the Year" for its Containerized Freight Index (Europe Service) Futures by Energy Risk. These annual awards recognize companies and institutions that have made outstanding contributions to the futures and commodities markets.

In recent years, while volatility and risks of the global commodities market intensifies, SHFE has operated safely and smoothly, providing reliable risk management tools for domestic and overseas enterprises. According to FIA statistics, as of the end of August 2024, the cumulative volume of SHFE this year is 1.41 billion lots, which is ranked 10th among global exchanges. SHFE and INE continue to open up to overseas investors, currently, there are 6 international products and 16 QFI-accessible products open to overseas investors.

The award-winning Containerized Freight Index (Europe Service) Futures is the world's first shipping futures product developed on the basis of China's index, which was successfully listed on August 18, 2023 on INE. One year after its listing, this product has been running for 242 trading days, with a cumulative volume of 38.19 million lots, a cumulative turnover of 3.06 trillion yuan, an average daily volume of 157.7 thousand lots, an average daily turnover of 12.67 billion yuan, an open interest of 96.1 thousand lots at the end of the one-year period, and an average daily open interest of 79.2 thousand lots. The overall operation has been smooth, the price linkage between futures and spot market is close, the market participation is active, and three cash settlements have been successfully completed. The product has withstood the test of multiple large fluctuations in freight prices caused by sudden geopolitical events, and the futures market has served as an effective risk management channel for the shipping industry.

In recent years, SHFE and INE have won a number of international awards, including “Chinese Exchange of the Year”, “CEO of the Year”, “Best New Derivative Contract”, “Exchange of the Year – Commodities” and “OTC Trading Platform of the Year” etc. by FOW and Energy Risk. Energy Risk also previously presented the “Innovation of the Year” to SHFE Steel Rebar Options, Silver Options and INE Crude Oil Options, reflecting the international recognition for China’s derivative market moreover SHFE and INE's continuous efforts to enrich the product line and optimize futures functioning, and to provide more effective price discovery and risk management tools for global traders.