Shanghai RMB crude contract faces margin and legal hurdles
First RMB oil contract set to go live in months but international players have concerns
The long-delayed Chinese crude oil futures contract is set to be launched at the end of this year, however potentially high margin costs and concerns over a lack of clarity in the Chinese legal system may deter international players from trading the contract, according to market experts.
China first proposed launching its own crude oil futures contract as early as 2012 but it was delayed and in May this year an official from the China Securities Regulatory Commission (CSRC) said the contract
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