SHANGHAI, Aug. 12 -- China on Monday started the trading of yuan-denominated natural rubber futures, the TSR 20 futures, which is open to overseas investors.

The listed futures at the Shanghai International Energy Exchange are contracts to be delivered from February to July of 2020. The benchmark prices of six contracts were set at 9,260 yuan (1,319 U.S. dollars) a tonne.

The trading margin for each contract was 7 percent of the contract value, while sitting at 9 percent in the initial period.

The daily trading band is 7 percent up or down from the settlement price of the previous trading day. On the first trading day on Monday, the trading limit is 14 percent up or down from the benchmark prices.

The most active NR2002 contract opened 5.9 percent higher at 9,805 yuan per tonne.

The TSR (technically specified rubber) 20 futures are the country's fourth commodities futures open to both home and overseas investors after the crude oil futures, PTA futures and iron ore futures.

In recent years, China has opened more commodities futures to overseas investors and improved corresponding institutional systems and processes, said Fang Xinghai, vice chairman of the China Securities Regulatory Commission, at the launching ceremony.

China will further open up its commodities futures market to boost the influence of its commodities futures in global price setting, Fang said.