Zheng Shang Of Big Business Office Contends For Cotton Yarn Futures Listing Right

< p > in recent two years, it is difficult to meet the needs of enterprises of < a target= "_blank" href= "http://www.91se91.com/" > textile < /a > by relying on single futures hedging in cotton futures.

Under the situation of strengthening the regulation of the cotton market and the impact of foreign cheap cotton yarn on the domestic market share, the listed cotton yarn futures have become the common aspiration of cotton textile enterprises.

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< p > < strong > the two futures exchange developed the same variety < /strong > < /p >.

< p > according to the press enquiry, the Dalian commodity exchange (hereinafter referred to as the "big business office") submitted the application for yarn futures to the SFC in 2013, and the yarn futures development started from this point, and once caused great concern in the textile industry.

Li Zhengqiang, general manager of DAC, once said, "based on the full absorption of your suggestions, DAC will continue to carry out extensive research and demonstration in the cotton textile industry, and further optimize and perfect the contract rules, so that the yarn varieties can be listed at an early date and serve the industry better.

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At present, the P has completed the research and contract design of yarn futures. The futures contract of DCE mainly set 32 and 40 cotton yarns as the trading target, expanding the delivery scope by upgrading the water. According to the actual situation and development trend of the spot market, the futures delivery quality standard was established on the basis of the national standard. According to the characteristics of the production of the spot enterprises, the contract month was set to 12 consecutive months, so as to facilitate the spot business's hedging operation.

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P has to mention that the Zhengzhou Mercantile Exchange (the "Zheng Shang Shi") also said last year that it intends to push cotton yarn futures.

In February this year, Zheng merchants in Jiangsu carried out cotton yarn futures research and held a consultation meeting on the design of cotton yarn futures contract system. Zhang Fan, director general of Zheng Shang, said, "on the basis of ten years management experience of cotton futures, we should actively expand the cotton industry chain upstream and downstream varieties, research cotton yarn futures, and improve cotton cotton yarn futures variety system."

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On the eve of May 1 this year, Zheng business research personnel went to Xinjiang and other places. On the "a href=" http://www.91se91.com/news/index_s.asp "cotton futures < /a > serving the Xinjiang cotton industry service forum, Zhang Fan, director general of Zheng Shang, once again said," Zhengshang is actively developing cotton yarn futures, forming a cotton industry chain variety system as soon as possible, so as to provide a new hedge tool for the vast majority of cotton enterprises and textile enterprises. "

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< p > in fact, yarn futures and cotton yarn futures are one of the trading targets of cotton yarn. The two futures exchanges are promoting the same futures variety, or will be different from the contract system, delivery system, wind control system and settlement system.

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< p > a person familiar with Zheng Shang told reporters: "this year, the board of directors of Zhengzhou Commercial Council listed cotton futures as a" Director Project ". Recently, intensive research has been done to intensify the collection of opinions on cotton yarn futures market and the confirmation of the factory's storehouse.

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< p > < strong > cotton yarn futures will be "who falls home"? < /strong > < /p >

In recent years, P and Tai Shang have begun to pform into comprehensive futures exchanges and pform them into existing exchanges of commodities, futures and options.

In fact, in addition to cotton yarn futures, the two parties are also facing competition in the night trading of agricultural products and options. However, cotton yarn futures are the real meaning of "close combat".

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< p > a person with a small reputation in the cotton circle told reporters that "Zheng Shang's cotton futures have been in operation for many years. Cotton yarn futures is an important part of the cotton industry chain futures. Most enterprises are more familiar with the system rules and delivery warehouses of Zheng Shang, and the cotton and cotton yarn varieties are listed on an exchange, which makes it easier for enterprises to carry out hedging and arbitrage operations on two varieties.

In addition, the geographical location of Zheng Shang is more suitable. It is located in Henan, adjacent to the main consumption place, and is conducive to the listing and later management of cotton yarn futures.

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"P", "of course, DAC has done quite well in recent years in terms of innovation and industrial services in the variety trading system, and has some advantages in large capital industry customers. Moreover, the big business has promoted this variety early, and has already visited a batch of production and circulation enterprises, and some enterprises in the industry have formed close ties with big business."

These people said.

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< p > a business owner who was involved in cotton futures trading told reporters: "I have experienced the bull market of cotton futures in 2010. The market is too crazy. Is there no excessive speculation in it? Many large cotton futures went short of losses that year.

What I value is whether we can ensure that the futures price is in line with the futures price after the listing of cotton yarn futures, and avoid excessive speculation. As for which stock exchange is listed, it is not important.

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< p > according to the reporter, according to the procedures, the futures exchange must have a thorough study of the application varieties before applying for approval. After the application is made, each exchange shall submit its respective contract rules and submit the revised contract rules. Then the SFC will start the approval process and seek the opinions of the ministries and commissions. After the approval of the State Council, the exchange will get the official approval and be allowed to be listed on the market.

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< p > the above insiders believe that Zhengshang should apply for approval and submit the contract rules as soon as possible in the second half of this year.

As to which futures exchange will be listed, the right to choose is still in the industry and the market. Which a href= "http://www.91se91.com/news/index_s.asp" > exchange > /a "has more research and argumentation, and can provide better service guidance for the cotton enterprises concerned, and more should have the right to go public.

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