On April 22, 2026 (starting from the continuous trading session on the evening of April 21, 2026), Shanghai Futures Exchange (SHFE) officially introduced overseas traders to participate in the trading of its Nickel futures and options. These two products are also opened to Qualified Foreign Investors (QFIs) concurrently. On the same day, Shanghai International Energy Exchange (INE), a subsidiary of SHFE, listed TSR 20 options and Bonded Copper options, both as Specified Domestic Products opened to overseas traders and QFI-accessible products.

 

Li Xin, representative from the Futures Supervision Department of China Securities Regulatory Commission (CSRC), read the "Approval on Confirming Nickel Futures and Options as Specified Domestic Products" and the "Approval on the Registration of TSR 20 Options and Bonded Copper Options". Cao Yanwen, Deputy Director of the Financial Commission Office of the CPC Shanghai Municipal Committee; Wang Jian, Vice President of the China Non-Ferrous Metals Industry Association (CNMIA); Fu Xiangsheng, Vice President of the China Petroleum and Chemical Industry Federation (CPCIF); and Tian Xiangyang, Chairman of SHFE, delivered speeches one after another. Lu Dongsheng, Chief Executive Officer of SHFE, hosted the event.

 

Nickel futures and options are SHFE’s first futures and options products  that are open to overseas traders. The internationalization of nickel futures and options is a key step by SHFE to align with global trends in the nickel industry and support high-quality development of the real economy. The global nickel market is currently undergoing accelerated evolution in terms of mineral resources, production, and consumption, leading to a significant increase in risk management demands among nickel industry enterprises. The introduction of overseas investors will further optimize the market structure of SHFE’s nickel futures and options, enhance their market depth and liquidity, provide efficient price risk management tools for global nickel industry chain enterprises, and help ensure the stable operation of the industrial and supply chains. It will also accumulate valuable experience for SHFE as it continues to open.

 

Since 2018, INE has successively launched derivatives products such as Crude Oil futures, TSR 20 futures, Bonded Copper futures, and Crude Oil options as Specified Domestic Products directly open to overseas investors. After years of market cultivation, these products have become core hedging tools for industrial enterprises. The listing of TSR 20 options and Bonded Copper options will help accelerate the full coverage of options for mature products on INE, further enrich the risk management toolkit for enterprises, support them in conducting refined and customized hedging strategies, enhance their ability to operate steadily, and facilitate the functioning of the futures market.

 

Cao Yanwen, Deputy Director of the Financial Commission Office of the CPC Shanghai Municipal Committee, stated that the listing of TSR 20 Options and Bonded Copper options, together with the internationalization of Nickel futures and options, will attract more international investors to participate. This will help expand the opening of existing products, facilitate SHFE in accelerating its building of a world-class exchange, and strengthen Shanghai’s position in the global commodity market. Shanghai will continue to support SHFE in product internationalization and the listing of new products.

 

Wang Jian, Vice President of CNMIA, stated that the internationalization of Nickel futures and options and the listing of Bonded Copper options are of significant meaning for the nonferrous metals industry, which is conducive to improving the derivatives market system, better integrating domestic and international markets as well as resources, and assisting enterprises in managing price volatility risks and maintaining stable operations.

 

Fu Xiangsheng, Vice President of CPCIF, noted that the successful internationalization of Nickel futures and options and the listing of TSR 20 options and Bonded Copper options precisely address the risk management needs of industry enterprises and meet common market expectations. He added that CPCIF will continue to work with SHFE to promote high-quality development of both the energy and chemical industry and the futures market.

 

Tian Xiangyang, Chairman of SHFE, stated that the successful internationalization of Nickel futures and options, along with the smooth listing of TSR 20 options and Bonded Copper options, represents the collective wisdom and endeavours of many parties and marks an important step in the opening of SHFE and in enhancing pricing benchmarks of major commodities. Going forward, SHFE will continue to improve its product matrix, optimize rules and regulations, strengthen market cultivation, deepen two-way opening-up, steadily enhance the operational quality of the futures market and its ability to serve the real economy, and intensify efforts to accelerate the building of a world-class exchange.

 

Representatives from the CSRC, Shanghai Municipal Government, relevant industry associations, upstream and downstream enterprises in the non-ferrous metals as well as energy and chemical industrial chains, members and intermediaries, delivery warehouses, inspection agencies, market institutions, and news media participated in the event.