Shanghai clearing house will push the swap of styrene and ethylene glycol at the end of this month

wallpapers Industry 2020-12-09
After the launch of iron ore, steam coal and copper premium swap products in Shanghai Free Trade Zone, Shanghai clearing house (hereinafter referred to as Shanghai clearing house) will have a new "action" in enriching product series. The reporter learned from the Shanghai clearing house that it will launch styrene swap and ethylene glycol swap at the end of June.

it is understood that styrene and ethylene glycol are important basic raw materials in the domestic chemical industry. Among them, styrene is mainly used to produce styrene resin series and styrene butadiene rubber, and ethylene glycol is mainly used as solvent, antifreeze and raw material for polyester synthesis.

"China has become the world's largest producer and consumer of styrene, with increasing trade activity and numerous market participants, especially in the middle and lower reaches of the Yangtze River." A person from a spot enterprise said that in recent years, with the drastic fluctuation of crude oil price, the price fluctuation of styrene and ethylene glycol has been increasing. Domestic related enterprises have a large demand for hedging and arbitrage hedging, but there has been a lack of corresponding derivatives hedging tools.


clearing house related people told futures daily that although styrene and ethylene glycol have existed over-the-counter forward trading, due to the lack of central mobile phone system and no performance guarantee, there are huge risks hidden; at the same time, the low degree of standardization, high spot trading and delivery costs also restrict the convenience of trading and circulation.


and "chemicals swap" launched by the Shanghai clearing house will fundamentally solve the above constraints in the styrene and glycol derivatives market, and further meet the hedging demand of spot enterprises. " This person said.

according to the introduction, since China's styrene market is mainly domestic trade market, styrene swap will be arranged to be listed at home and outside the Shanghai Free Trade Zone, while ethylene glycol is basically imported and has a wide range of trading groups. Therefore, ethylene glycol swap will be listed in Shanghai free trade zone.


according to the relevant people of the SSE, the glycol swap launched in Shanghai free trade zone can only be traded by customers who have opened ft accounts, and the transaction currency is cross-border RMB, which can promote the cross-border RMB capital flow and accelerate the pace of financial innovation in Shanghai free trade zone.


are worth mentioning that at the time when glycol swap is about to be listed, the introduction of glycol futures is also speeding up. The reporter of futures daily learned from a person from a petrochemical enterprise that at present, the big commercial institute is studying and launching ethylene glycol futures. "We hope that glycol futures can be listed as soon as possible." The person said.

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