SINGAPORE: Singapore Exchange Ltd yesterday began trading the world's first index futures based on stocks listed on mainland China, ahead of the planned introduction of such derivatives in Shanghai.
Futures contracts for Sept 28 settlement opened at 5,128 points at 10:50am in Singapore, compared with the spot price of 5,135.44 for the underlying FTSE Xinhua China A50 Index, which tracks the A shares of the 50 biggest mainland-listed firms, with a total capitalisation of 158.6 billion yuan (US$20bil) as of June 30.