shanghai clearing house-凯发棋牌

to fulfill the fundamental mission of finance serving the real economy and respond to the strategic initiative of boosting china’s pricing power over commodities in cny, shanghai clearing house (shch) has kept pace with market trends of refined oil products, strived to meet risk management needs of real economy enterprises, and filled gaps in china’s relevant derivatives market. on january 29, 2026, shch officially launched the central counterparty (ccp) clearing service for cny gasoline and diesel swaps. it supports high quality development of real economy enterprises in the gasoline and diesel sector through secure and efficient clearing, settlement and risk management services, while facilitating the formation of an cny denominated pricing benchmark better tailored to the chinese market.

cny gasoline swaps and diesel swaps are otc commodity derivatives cash settled, priced, cleared in cny. they are respectively indexed to the spot prices of 92# gasoline and 0# diesel in east china (jiangsu, zhejiang and shanghai) released by shandong longzhong information technology co., ltd. shch provides ccp clearing services for both instruments.

on the launch day, the service operated smoothly. shch’s centralised clearing platform for commodity derivatives cleared a total of 4,124 monthly agreements of cny gasoline and diesel swaps (single sided, same below), with a clearing value of cny 272 million. the tenors of agreements cover february, march and july 2026. eleven institutions participated in the intial transactions, including anhui muqing energy technology co., ltd., shandong jingbo petrochemical co., ltd., dongying haiwang storage & transportation co., ltd., jiangsu qiangcun energy technology co., ltd., china-base petrochemical co., ltd., nantong chemical industry and light industry co., ltd., citic securities co., ltd., guotai haitong securities co., ltd., orient securities co., ltd. and huatai securities co., ltd. shanghai pudong development bank co., ltd. offered client clearing services, while trading matching services were provided by shanghai petroleum and natural gas exchange, chongqing petroleum and natural gas exchange, mcs nexus pte. ltd. and etong e-commerce (shanghai) co.,ltd..

gasoline and diesel are key strategic commodities underpinning national economic development. the launch of the ccp clearing service for cny gasoline and diesel swaps is of great significance to the high quality development of the gasoline and diesel sector. first, it fills gaps in china’s financial factor market, serves hedging demands of the real economy, and effectively supports high quality industrial growth. second, it enhances price discovery and pricing power: on the one hand, it amplifies the influence of rmb spot price indices; on the other hand, shch releases forward prices for 12 consecutive monthly agreements on a daily basis, providing real economy enterprises with pricing benchmarks and forecasting references in line with china’s market realities. third, it ensures steady and efficient market operation, equipping real economy enterprises in the sector with professional risk management tools to tackle potential credit and market risks.

as a financial market infrastructure based in shanghai, serving china and connecting the world, shch always stays committed to its original aspiration of serving the real economy. going forward, shch will continue to deepen its presence in the bulk commodity sector, strive to build a core centralised clearing platform for nationwide otc commodity trading, and accelerate product innovation, service upgrading and platform development. meanwhile, it will strengthen forward looking risk assessment, promptly identify and guard against potential regional and systemic risks, lay a solid foundation for the standardised, secure and sustainable development of commodity spot and derivatives markets, and inject continuous financial momentum into the development of a unified national market and the cultivation of new quality productive forces.

          key terms of cny gasoline and diesel swap agreements