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China has made a new attempt to create a container shipping futures product, listing the Containerized Freight Index Futures (Europe Service) on the Shanghai International Energy Exchange on Friday.
The Chinese government aims to enable hedging in container shipping and boost its influence in international transport.
Denominated in Chinese yuan, the futures are based on the Shanghai Containerized Freight Index’s settled rates and open to investors worldwide.
Upon contract expiration, open positions of the futures will be closed by calculating the profits and ...
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