SINGAPORE, Jan. 16, 2023 –Xinhu Futures and Straits Financial announce the launch of the Xinhu-Straits Internationalized Commodity Comprehensive Index, XSCI, jointly developed by Xinhu Futures and Straits Financial Group. It is the market’s first index to measure the price performance of a basket of China’s internationalized commodity products using a standardized metric and methodology. The index will serve as a benchmark for investment performance and a leading indicator for Chinese macroeconomics and the futures market.
“In collaboration with Straits Financial, our goal is to help investors to understand the price trends and capital trends of the internationalized varieties in the Chinese futures market,” said Ma Wensheng, Chairman of Xinhu Futures Co Ltd. “It also acts as a reference for trading for participants in the commodity market and a guide to China’s macroeconomic landscape. With the launch of the index, investors can partake in the benefits of the Chinese futures market’s internationalization. We hope that the index will further contribute to the internationalization process.”
“Straits Financial has been a firm supporter of the internationalization of the Chinese futures market,” said Jeremy Ang, Chief Executive Officer of Straits Financial Group. “We have demonstrated our dedication by securing multiple first trades of internationalized products. As evidenced by exchange statistics, we are proud to be one of the market leaders in driving these products. Together with Xinhu Futures, industry players, and partners, we are confident in delivering significant long-term value for international investors. I’m looking forward to the index’s continued evolution and global acceptance in the near future.”
About Xinhu Futures
Xinhu Futures was founded in 1995 and has a one billion yuan net asset. It is owned by Zhejiang Xinhu Group Co., Ltd. Xinhu Futures has grown significantly since its restructuring in 2008, with over 500 employees and 29 locations across the country, and its influence in the business is growing by the day.
Xinhu Futures is a full settlement member of the Dalian Commodity Exchange, Zhengzhou Commodity Exchange, Shanghai Futures Exchange, Shanghai International Energy Exchange, and China Financial Futures Exchange. Its services include commodity futures and options brokerage, financial futures brokerage, stock options, investment advisory, asset management, and risk management subsidiaries.
About Straits Financial
Straits Financial Group is a leading brokerage house headquartered in Singapore, offering integrated services for derivatives and financial products. Established affiliate offices are in Chicago, New Jersey, Shanghai, Jakarta, and Dubai. Straits Financial is a full Clearing Member of the CME, CBOT, NYMEX, COMEX, CME Clearport, DME, CFE, and APEX. It is also the first batch of Overseas Broking Special Participants of the Shanghai International Energy Exchange (INE). Straits Financial offers clearing access to all major global commodity exchanges. For more information, visit www.straitsfinancial.com.