The Zhengzhou Commodity Exchange and the Baltic Exchange have signed a BPI licensing agreement.

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　　Zhongxin News, Zhengzhou, April 21 (Reporter Kan Li) Zhengzhou Commodity Exchange (hereinafter referred to as Zhengzhou Exchange) announced on the 21st that it recently held a signing ceremony with the Baltic Exchange (hereinafter referred to as the Baltic Exchange) for the Baltic Panamax Index (BPI) licensing agreement. This move lays the foundation for the launch of dry bulk international shipping index futures in China's futures market.

　　BPI is one of the Baltic dry bulk freight rate series indices compiled and released by the Baltic Exchange. It primarily reflects the freight rate levels of Panamax vessels with a capacity of 82,500 deadweight tons, covering the transportation of dry bulk goods such as grain, coal, and ore. Based on this index licensing cooperation, Zhengzhou Exchange will list BPI index futures products, providing open and transparent freight rate risk management tools for Chinese and global shipping and trading enterprises.

　　Zhengzhou Exchange has a total of seven specific varieties, including rapeseed oil, and 26 futures and options varieties open to Qualified Foreign Institutional Investors (QFI). Overseas clients from 33 countries and regions, including Singapore, the United Kingdom, and the United Arab Emirates, have opened accounts at the exchange. The opening of specific varieties such as purified terephthalic acid (PTA) options, paraxylene (PX), short fiber, and bottle-grade PET futures and options to foreign investors has been approved by the China Securities Regulatory Commission and is currently being implemented.

　　The main person in charge of Zhengzhou Exchange stated that China is the world's largest importer and shipping nation for dry bulk goods. By obtaining authorization from the Baltic Exchange and launching BPI futures, Zhengzhou Exchange can fully leverage China's advantages as a major importer, shipping nation, and large-scale futures market to provide effective futures products for global shipping market participants. Zhengzhou Exchange will steadily promote the listing of BPI futures and continuously enhance the futures market's ability to serve the real economy.

　　The Baltic Exchange is an FCA-regulated benchmark administrator under the UK's Benchmark Regulation and a globally leading, independent authority for maritime market information. It provides data for spot and derivative contract trading and settlement in the dry bulk, tanker, and gas chartering markets.

　　The main person in charge of the Baltic Exchange stated that BPI is a long-established and globally recognized pricing benchmark in the dry bulk shipping market. The index undergoes external verification annually to ensure compliance with the UK's Benchmark Regulation, the International Organization of Securities Commissions' Principles for Financial Benchmarks, and the Principles for Oil Price Reporting Agencies. The Baltic Exchange looks forward to working with Zhengzhou Exchange to jointly promote the launch of China's first international dry bulk shipping index futures contract. (End)