China’s first crude futures contract will be launched no sooner than September, based on a statement by regulators that they need three more months to complete the process. The statement by the China Securities Regulatory Commission on Friday was its first timing estimate for the contract, which has been in the works for several years. In December, the watchdog approved Shanghai Futures Exchange’s application to host the contract through Shanghai International Energy Exchange, its wholly owned subsidiary in the Shanghai Free Trade Zone. CSRC said it needs three months to work with various ministries and organizations to issue supporting guidelines and administrative rules for the contract, to examine and approve trading rules for the host exchange, to recruit members and overseas investors and to educate market players. Article continues below… The Platts Global Energy Awards is a competitive awards program honoring excellence and accomplishments in the global energy industry. […]