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China's 20-Year Crude Oil Futures Wait Drags On Amid Volatility

  • Exchange needs to conduct mock trading and finalize rules
  • Contract awaiting approval from China's securities regulator

The wait for China’s first oil futures contract in more than 20 years isn’t over yet.

Scheduled to start by the end of this year, the contract on the Shanghai Futures Exchange may now be delayed until 2016, Lu Feng, an official with the Shanghai International Energy Exchange Ltd. said Thursday. The bourse must finalize rules and conduct mock trading and still needs approval from the China Securities Regulatory Commission, he said. That’ll make it difficult to start in 2015.