Xinhu Futures

Time:2013-04-16 14:26



With the listing of SPDR Gold Trust, announced by the United States in 2004,  the era of global commodity ETFs was officially started. By the end of 2012, there were 898 different commodity ETFs around the world. The size was approximately 200 billion, accounted for 10.4% of global ETFs. 


In terms of the number and size of products, precious metals and energy ETFs occupy the mainstream in commodity ETFs. The ETFs were once regarded as reasons of speculating international crude oil prices, but its simplified transaction, low transaction costs and low transaction threshold are still preferred by the market. 


While in China, SHFE (Shanghai Futures Exchange) is about to list the crude oil contract. This contract is based on an international platform. The listing of the crude oil futures ETF is going to provide more opportunity for international investors to take part in Chinese crude oil trading. And in China, the trend of commodity ETF is just started. So at this point, Shanghai Futures Exchange (SHFE) and Xinhu Futures are going to make a joint research called The Feasibility Studies on Launching ETF of Chinese Crude Oil Futures”. We will do market research on Four major Chinese energy companies (CNPC, Sinopec Group, CNOOC, CHEMCHINA). We welcome overseas crude oil companies, crude oil trading companies and fund companies to join in or sponsor our joint research. We will also help our sponsor or joint research companies to connect with SHFE and four major Chinese energy companies if needed. Please contact us for further information.


Appendix: Outline of Joint Research

Chapter 1 Introduction 
1.1 Background 
1.2 The Theoretical and Practical Necessity of the Research 
1.3 Research Structure 
1.4 Research Methods & Data Resources 
1.5 Innovation on Research  

Chapter 2 Feasibility Analysis of Launching ETF of Chinese Crude Oil Futures 
2.1 Theoretical Principle 
2.2 Policy Support 
2.3 Market Research 
     2.3.1 Research on Chinese Crude Oil Companies 
     2.3.2 Research on International Crude Oil Companies 
     2.3.3 Research on Other Market Participants 
2.4 Possibilities on Listing 
2.5 Conclusion  


Chapter 3 Chinese Crude Oil Futures Index  

3.1 An Introduction to Foreign Listed Price Index  

3.2 Comparison of Domestic and International Crude Oil Index  

3.3 Design of Chinese Crude Oil Futures Index  

3.4 Function of Chinese Crude Oil Futures Index  


Chapter 4 Design of Chinese Crude Oil Futures ETF  

4.1 Introduction of Global ETF Product  

4.2 Product Design of Chinese Crude Oil ETF Product  

4.3 Introduction of Contract Design  

4.4 Choices of Contract Trading

4.5 Channel Function of Chinese Futures Company   

4.6 Obstacle of Law Regulations  

4.7 Conclusion  


Chapter 5 Trading of Crude Oil ETF Product  

5.1 Domestic Preparation for Trading ETF Product  

5.2 Conditions of Listing Overseas   

5.3 Procedure of Listing Overseas   

5.2 Conclusion  


Chapter 6 Conclusion and Outlook  

6.1 Conclusion of Major Activities  

6.2 Creativity of the Paper  

6.3 Further Research Outlook