Shanghai International Energy Exchange (INE), a wholly-owned subsidiary of the Shanghai Futures Exchange (SHFE), will officially launch the TSR 20 Options and Bonded Copper Options for trading on April 22, 2026 (starting from the continuous trading session on the evening of April 21, 2026), as Specified Domestic Products opened to overseas investors. These two options will also be open to Qualified Foreign Investors (QFIs) upon their listing.

TSR 20 is a core raw material for the tire industry, and copper is a critical base material for new energy, high-end manufacturing and other sectors. Both are important commodities underpinning the development of the real economy. China is the world’s largest consumer of TSR 20 and copper, with enterprises along the relevant industrial chains deeply integrated into the global market. The demand for refined and diversified risk management tools among these enterprises is increasingly urgent.

As China’s manufacturing sector gradually transitions to high-quality development, the demand for risk management among enterprises along the TSR 20 and bonded copper industrial chains has significantly increased, and the market demand for launching corresponding options is growing stronger. The listing and opening-up of TSR 20 and Bonded Copper options will not only diversify the risk management tools for domestic and overseas industrial enterprises, helping them hedge price volatility risks and improve risk management capabilities, but also complement the corresponding futures, improve the price discovery mechanism, and further leverage the resource allocation role of the futures market. In addition, it will help boost China’s price influence in the global market for relevant commodities and support the development of Shanghai as an international financial center.

Since 2018, INE has listed six futures and option products such as TSR 20 futures, Bonded Copper futures and Crude Oil options. All these products have performed steadily, with their trading, clearing, option exercise, opening-up and other businesses well tested by the market. These have laid a solid foundation for the listing of TSR 20 options and Bonded Copper options, and for accelerating the full coverage of options for all corresponding mature futures products on INE. In 2025, the average daily trading volume of INE crude oil options rose by 23.61% year-on-year, and its average daily open interest increased by 32.71% year-on-year. The quality and efficiency of INE’s option market keep improving, and its function in serving the real economy has been gradually enhanced.

Going forward, INE will make all the necessary preparations for the listing of TSR 20 options and Bonded Copper options to ensure their successful launch and stable operation after their listing, including technical system operation and maintenance, market risk prevention and control, and in-depth market trainings and investor education activities.