CQG, a leading global provider of high-performance trading, market data, and technical analysis tools, announced today that the soon-to-be-launched, highly anticipated Shanghai International Energy Exchange (INE), a unit of the Shanghai Futures Exchange, will be the first Chinese market available on CQG.
The company made the announcement at the annual FIA International Futures Industry Conference in Boca Raton.
Late last year, CQG announced its imminent launch of CQG China, a separate division of CQG, Inc. The firm's connection to INE will offer foreign investors an opportunity to trade the new INE markets while enabling Chinese buyers to lock in oil prices and pay in local currency. The launch of the marketplace represents the first time foreign investors can participate in a Chinese commodities market.
CQG will offer INE trading and market data access to its customers across the globe.
Kelvin Chia, Manager, CQG China, said: "This is an important development in the oil industry as China continues to grow its involvement in the energy sector. We are thrilled to offer the INE to our customers as we continue to expand our global footprint and offering in the energy markets as well as in China."
INE is scheduled to begin trading on March 26, following years of development. China is the world's biggest purchaser of oil as of 2017.
CQG is finalizing its infrastructure on the major Chinese exchanges to offer access to additional markets, as the trading volume on Chinese exchanges continues to grow within the region and access to international participants continues to expand.