Bond Futures Listed Cotton Textile Enterprises Also Benefited From It.

The Treasury futures trading suspended in 1995 will return to the horizon 18 years later. In September 6, 2013, treasury bond futures began trading on the China Financial Futures Exchange. Xiao Gang, chairman of the China Securities Regulatory Commission, said at the ceremony that the listing of Treasury futures marks a new stage of development of China's futures derivatives market. Reporters first called the golden stone Futures Research Institute to inquire about the move. Spin The significance of the industry, senior analyst Yang Guoqi believes that the bond futures traded on the Cotton textile industry It has far-reaching effects and has great advantages.

First, the listing of treasury bond futures is conducive to the establishment of a market-oriented pricing mechanism. The listing of treasury bond futures, improving the issuance system of national debt, promoting the marketization of interest rates, and guiding the optimal allocation of resources are conducive to the diversification of risk management tools. With the development of the bond market, the demand for interest rate volatility risks of various market players has become increasingly strong. Treasury bond futures provide more risk prevention tools and asset allocation methods for financial institutions, which is conducive to improving the innovative mechanism of financial institutions, as the cotton of the real economy. Textile industry In the future, we will enjoy more diversified and rationalized services provided by financial institutions.

Secondly, the public debt futures market, the first shot of the reform of the interest rate marketization. The future financial futures derivatives market, such as interest rate futures and exchange rate futures, will further develop, all of which are aimed at promoting the internationalization process of RMB. The issue of RMB exchange rate has become one of the main problems facing cotton textile enterprises. Export oriented cotton spinning enterprises have been struggling under the enormous pressure of appreciation of RMB exchange rate in recent years. The main reason is that the RMB is not internationalized, the exchange rate fluctuates greatly, and it is also vulnerable to other countries and other factors. The income of cotton spinning enterprises is also eroded by the fluctuation of exchange rate step by step. The listing and trading of treasury bonds and the further development of the futures market in the later stage will promote the internationalization of RMB. This embarrassing situation will be gradually changed. Cotton textile enterprises will also benefit from it and the pressure of operation will be further reduced.

Thirdly, with the continuous development of the futures market, there are more and more varieties on the market. In terms of varieties, there are more and more financial futures derivatives, while the development of traditional commodity futures tends to focus on the direction of the whole industry chain. Coal char and soybean meal have formed a variety involving the whole industry chain. Later, with the further development of the market, Cotton yarn futures Will also be listed on the transaction, so that it will form a cotton industry involving the upstream and downstream of the entire industry chain varieties, the entire cotton industry can participate in hedging to avoid price risk. Cotton textile enterprises Multi channel and diversified operation can be carried out through cotton yarn futures.

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　　 Treasury bond futures It refers to the derivative transaction method of treasury bonds which is determined in advance by the organized trading place and the money coupon is delivered in a specific time in the future. Treasury bond futures are a kind of advanced financial derivatives. It was created in the context of the unstable American financial market in 1970s to meet the demand of investors to avoid interest rate risk.

Characteristic

Futures trading is a complex transaction mode, which has the following characteristics different from spot trading:

Treasury bond futures transactions do not involve the transfer of bond ownership, but only shift the risk of price changes related to such ownership.

Treasury bonds futures trading must be carried out in designated trading places. The futures market is open and liberalized and prohibits OTC and private hedging.

All Treasury futures contracts are standardized contracts. The bond futures trading system is a lever trade.

Treasury bonds futures trading implements a daily debt free system.

Treasury bond futures generally have little physical delivery.

The listing of treasury bond futures is like opening a window. What we see at the moment is just the tip of the iceberg. The significance and role of its listed transactions will be gradually reflected in the coming years. Yang Guoqi believes that as China's first interest rate derivatives on the floor, the listing of treasury bond futures indicates that China's futures derivatives market has entered a new stage of development, bringing us more intimate services, a more relaxed business environment, more channels of risk aversion and a more diversified business philosophy.