Shanghai's Cffex licenses members for stock futures


The China Financial Futures Exchange (Cffex) in Shanghai took another big step towards the launch of stock index futures in January, by approving 52 brokers to trade CSI 300 Index futures.

The futures companies were brought into the exchange system in four batches, starting in late October. Of the 52, seven are all-round clearing members, 27 trading-clearing members and 18 trading members.

A trading member can serve as a broker for investors, but cannot handle the clearing of their contracts. A

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