Zhengzhou Held Forum On Cotton Yarn Futures Contract Argumentation

Yesterday, the Zhengzhou Mercantile Exchange was Zhengzhou Convene a symposium on cotton yarn futures contract rules. Participants agreed that the current policy conditions and market conditions for the introduction of cotton yarn futures have basically matured. Zheng Shang's official said that the cotton futures contract and rules system of Zheng Shang has been basically improved, and cotton yarn futures will be declared as soon as possible, so as to provide risk management tools for the vast cotton textile enterprises.

In June 1, 2004, Cotton futures After the first listing in Zhengshang, more than 4000 cotton related enterprises used the futures market to avoid the risk of price fluctuation and achieved good results. "In order to better serve the relevant industry chain enterprises, Zhengshang has carried out a large number of market training, research and innovation functions and other service work around cotton futures. At the same time, we also deeply feel that as cotton direct downstream species, cotton yarn futures as soon as possible has become a common expectation of textile enterprises. The official in charge of Zheng Shang said.

It is understood that in order to meet market demand To better serve the relevant cotton textile enterprises, Zheng Shang started the cotton yarn futures demonstration, R & D and so on very early. In 2013, Zheng Shang also set up a cotton yarn futures promotion working group. In the Council convened by Zheng Shang this year, the Council listed cotton yarn futures as the "Director Project" this year, accelerating the pace of research and development and promoting the listing of cotton yarn futures in the year.

The official said that the exchange has incorporated cotton yarn futures into the Chinese textile futures variety system vigorously developed by Zheng Shang. In this system, there are three sequences of plant fiber, chemical fiber and animal fiber with textile concept. Cotton futures, which belong to chemical fiber PTA futures and plant fiber, have been listed. Cotton yarn futures are also belong to plant fibers, and they are direct downstream varieties of cotton futures. Their introduction has a very positive significance for the textile industry. The dry cocoon and raw silk futures, which belong to animal fibers, are also actively developed and promoted by chemical fiber filament and staple fiber futures. After improving the futures variety system with the concept of textiles, Zheng Shang will also intensify research and development of China textile index and other futures derivatives on this basis.

According to the introduction, Zheng merchants have strengthened the "open door research and development" mode on the basis of cotton yarn futures. Through cooperation with relevant trade associations, local governments, industrial chain enterprises, Futures Company and institutional investors, the cotton yarn main production and marketing sites and logistics distribution centers have been researched and demonstrated at various levels and angles.

The representatives of the enterprises hope that the speed of cotton yarn futures will be quickened. "At present, the conditions for launching cotton yarn futures are ripe. On the one hand, the reform of cotton purchasing and storage policy has been launched, and the market has decided that the mechanism of resource allocation will be further strengthened. This has created a favorable policy environment for the introduction of cotton yarn futures. On the other hand, the design of cotton yarn futures contracts and regulations has been" focused, innovative and oriented ", and has been widely recognized by spot businesses and is very close to the trade habit of our spot market. The representative of Shangqiu Zhongtian Textile Co., Ltd. said.