Modification Of Cotton Futures Contract For New Cotton National Standard Zhengzheng Institute

< p > the first contract after modification CF311 is hanging up < /p > today.

< p > to apply the new a href= "http://www.91se91.com/news/index_c.asp" > cotton < /a > new national standard promulgated in 2012, Zhengshang amended the relevant provisions of the first cotton futures contract and delivery rules and standard warehouse receipt management. Yesterday, the revised cotton futures contract No. 1 and related business rules were promulgated and implemented since the CF311 contract.

Today, CF311 contracts are trading.

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< p > according to the introduction, this is mainly for the modification of the first contract a href= "http://www.91se91.com/news/index_s.asp" > cotton futures < /a > contract base deliveries.

According to the revised rules, from the CF311 contract, the benchmark delivery of cotton futures contract No.1 is as follows: comply with the 3128B grade specified in GB1103.1-2012 "first parts of cotton: sawtooth processed fine cotton", and the length is U3, the breaking strength is S3, and the domestic cotton with the quality of mill is P2.

According to GB1103.1-2012 "first parts of cotton: sawtooth processing fine cotton", the color level is 11, 21, 41, 12, 22. The average length is 27mm, 29mm and above. The length is U1, U2 and U4. The main micron level is grade A and C grade C2 file. The breaking strength is S1, S2, S4 file. The quality of the mill is the cotton with the S1 and the stalls, which can replace delivery.

A unit of cotton is graded according to the color level and the proportion of mill workers.

Cotton with main color grade will be raised 100 yuan / ton.

Cotton with no main color level is the color level with the largest color level.

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< p > it is understood that the new national standard of cotton is GB1103.1-2012 "cotton first parts: sawtooth processing fine cotton" and GB1103.2-2012 "cotton second parts: roller processing fine cotton".

Among them, the color grading index system is used for sawtooth processing fine staple cotton, and the fine roller cotton is still maintained by the roller grading system.

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Before the announcement of "P > cotton new < a href=" http://www.91se91.com/news/index_q.asp "> National Standard < /a >, Zhengshang organized relevant personnel to carry out market research, and discussed with cotton production and trading enterprises for many times, and consulted cotton futures contract modification suggestions and suggestions.

After full investigation and discussion, Zheng merchants chose the sawtooth processed fine cotton as the delivery item of cotton futures contract.

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< p > "this is a revision of cotton futures contract since 2004.

Wei Gangmin, chairman of Tongzhou cotton industry in Henan, said that the timely modification of cotton futures contracts and relevant rules in accordance with the new national standards by Zheng merchants not only maintained the representativeness of the futures cotton in the domestic cotton industry, but also helped to promote the implementation of the new standard in the cotton spot industry, helping enterprises make better use of cotton futures, and also had a positive significance in cotton futures trading and market function development.

There are more impurities in the roller processing cotton, but less impurities and better color in the zigzag processing. The choice of sawtooth fine cotton as the delivery product reflects the high standard of futures.

"Before the promulgation and implementation of the new standard, Zhengshang organized many training for spot enterprises and Futures Company, which is also very helpful for the market to familiarize itself with new standards and new futures contracts."

Wei Gangmin said.

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< p > Zhengshang office also announced the time limit for the cancellation of cotton warehouse receipts registered in 2012/2013, and adjusted some of the designated cotton delivery warehouses.

The cotton warehouse receipts registered in 2012/2013 were cancelled on the thirteenth trading day (including that date) in September 2013, and the warehouse receipt forecast for cotton production in 2013 has been accepted since the fourteenth trading day of September 2013.

Starting from the fourteenth trading days in September 2013, Hubei Yinfeng warehousing logistics Co., Ltd., Hubei Reserve Materials Management Bureau 338, Hunan Yinhua modern agriculture logistics Limited by Share Ltd 3 designated cotton delivery warehouses registered cotton standard warehouse list, each ton of cotton is higher than the futures contract price premium from -100 yuan / ton to 0 yuan / ton.

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