With copper options, China steps up challenge to London, New York rivals

The Shanghai Futures Exchange (ShFE) will launch copper options trading on Friday, aiming to take a slice of a $270 billion global market in one of its biggest challenges yet to London and New York rivals. The product, which follows the launch of sugar and soymeal options last year, comes as the exchange also considers opening its flagship copper futures to foreign investors, and is a major step in China's prolonged effort to develop its derivatives industry.