China's stock index futures unseat S&P to become world's most traded

Reuters reports:

Chinese stock index futures have surpassed S&P 500 futures in turnover to become the world's most traded equity futures as global investors expanded their exposure to one of Asia's top-performing markets.

Turnover in the CSI300 futures contract expiring on May 15 has soared in recent weeks, in step with surging shares in China. Daily volumes rose to 1.5 million contracts on Friday, according to Thomson Reuters data, exceeding the 1.4 million "e-mini" S&P 500 contracts traded on that day. Analysts predict the CSI 300 looks set to overtake futures contracts in other asset classes such as U.S Treasuries, the most heavily traded futures contract in the world for any asset type.

Turnover in CSI300 stock index futures, launched in April 2010 on the China Financial Futures Exchange, have rocketed in recent weeks on a rally in mainland share indexes. The equity benchmarks are star performers in the Asia-Pacific, with year-to-date returns of more than 30 percent in dollar terms.

Another sign that this is going to be the Asian century.