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China's Derivatives Guru Goes Offshore for Benchmark Dream

  • Asia Pacific Exchange will start in May in Singapore: CEO Zhu
  • Refined palm oil futures will be venue’s first contract
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Photographer: SeongJoon Cho/Bloomberg
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One of the founders of China’s derivatives market is going offshore to move closer to his dream of developing global commodity benchmarks in Asia.

Asia Pacific Exchange Pte, backed by Chinese investors, has received licenses from the Monetary Authority of Singapore to operate a derivatives exchange and clearinghouse, said Eugene Zhu, the chief executive officer of the bourse. The market will start by offering refined palm oil futures contracts.