The Shanghai Futures Exchange (SHFE) Friday unveiled the Shanghai International Energy Exchange in the China (Shanghai) Pilot Free Trade Zone (FTZ), a key step towards crude oil futures listing in China.

The global trading platform for energy derivatives was funded by the SHFE with a registered capital of 5 billion yuan ($815 million), so far the largest in the FTZ.

The exchange will be able to operate regulated derivative marketplaces for crude oil, natural gas and other petrochemicals and provide clearing, delivery, information distribution and technology services, said Yang Maijun, head of the SHFE.

The SHFE will push ahead with various preparatory work for the listing of crude oil futures in a bid to roll them out as early as possible, Yang said.