Silver as an investment

China Regulators Complete Final ‘Drill’ In Preparation For Petro-Yuan Futures Trading

zerohedge.com / by Tyler Durden / Dec 13, 2017 7:30 PM

Amid all the chatter of Venezuela and Russia potentially creating oil-backed cryptocurrencies, the “huge news” of China’s launch of the Petro-Yuan has fallen off the front page… until now.

This week saw the Shanghai Futures Exchange complete its fifth yuan-back oil futures contract trading drill successfully…

As Bloomberg reports149 members of Shanghai International Energy Exchange traded 647,930 lots in the drill with total value of 268.2b yuan, according to a statement from the exchange, which added that the system basically met the listing requirements of crude futures after the drill.

While this was a success, it’s not all plain-saling…

READ MORE

The post China Regulators Complete Final ‘Drill’ In Preparation For Petro-Yuan Futures Trading appeared first on Silver For The People.