SZCOX Announces the Launch of Black Sea Wheat Futures Contract
Shenzhen Commodity Exchange (SZCOX), one of the most diverse derivatives market-place today announced the launch of SZCOX Black Sea Wheat Futures. The launch of these contracts will be listed with and subject to the rules and regulations of the SZCOX.
“This is an important next step for SZCOX as it relates to our new market development efforts in Asia,” said Mr. Steven Cheung, Chief Executive officer at SZCOX.
“Now more than ever the world relies on the wheat producing regions to produce wheat and other grains to meet our growing global demand for food,” said Tim Landers, Managing Director, Agricultural Commodities and Alternative Investments, SZCOX. “That’s why beginning in June, SZCOX Wheat Futures will become the first hedging tool to offer regional market participants effective price discovery and risk management. We firmly believe this contract will not only establish an effective forward market for regional wheat prices, but has the potential to develop into a true regional benchmark pricing tool for wheat.”
Shenzhen Commodity Exchange has worked closely with regional partners, industry associations and several other key market participants to develop the region’s first wheat futures contract that truly represents physical grain prices, addresses specific delivery practices and regional risk factors like weather.
Pending all relevant regulatory review periods, Black Sea Wheat Futures will be listed on SZCOX and available for trading electronically on the world’s leading wheat-trading platform, SZCOX G-Trader™. The contract will be US Dollar denominated and will be 136 metric tons per contract, similar to benchmark SZCOX Wheat futures. Designated delivery points for the contract will be in Russian, Ukrainian and Romanian ports on the Black Sea.
Shenzhen Commodity Exchange offers one of the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.
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