The Baltic Exchange and Zhengzhou Commodity Exchange (ZCE), China’s largest futures and derivatives exchange, have agreed a memorandum of understanding to explore cooperation in the research of shipping derivatives. The pair will work together on research and development of a futures contract settling against the Baltic Panamax Index (BPI) in China.
Established in 1990, ZCE is regulated by the China Securities Regulatory Commission (CSRC). ZCE has launched 23 futures products and eight options products covering the fields of agriculture, energy, chemicals, textile, construction materials and metallurgical industries.
Mark Jackson, Baltic Exchange CEO, said: “The Baltic Exchange is delighted to collaborate with ZCE as we look to develop our presence in China and support new market participants in trading derivatives which reference Baltic benchmarks.”
