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Wang Weijun, Vice President of Dalian Commodity Exchange (DCE), said at the 9th Summit for Futures Institutional Investors (FIIS) held in Shanghai on October 18 that currently China's futures market has entered a new era of diversification and opening up, and the orientation toward institutions and products will be one of the important features at the stage. Institutional investors have also been at a new stage for undertaking missions, bringing energy and functions into play and serving the real economy. Cultivating and giving play to the role of institutional investors reflects not only the demand of industrial clients for hedging counterparties that can be matched, but also the aspiration for the market development in the new era.
Wang said that with the steady and healthy development of China's futures market, institutional investors are demonstrating the position and functions that they should have in the market in terms of both the improvement of the structure of market participants and the offer of market stability and liquidity.
According to the sources, in the 25 years since the establishment, DCE has always attached great importance to the cultivation of and service for institutional investors, who have become an important force in the market of DCE. By the end of September this year, the trading volume and the open interest recorded by the corporate clients accounted for 27% and 52% of the totals respectively in the DCE market. Among them, the specialized institutional investors represented by asset management and special corporate clients saw their trading volume and open interest reach 12% and 17% of the totals respectively.
Wang pointed out that going forward, DCE will take the following measures to continuously deepen the transformation and development of the market: first of all, DCE will launch the corn options and the ethylene glycol (EG) futures as early as possible, vigorously advance the listing of the futures for hog, japonica rice and dried pepper and the iron ore options, continue to step up the innovation in new products and new instruments, and expand the scope of service for the real economy and the market participants. Secondly, DCE will steadily promote the internationalization of palm oil and other futures products, and continue to improve the opening up of the futures market. Thirdly, DCE will further propel the integration of the OTC markets, continue to support all financial institutions in participating in the pilot programs for relevant businesses and services for industries, and strengthen the research and development of commodity indices and the promotion of the applications. Fourthly, DCE will further transform the concepts and working methods, optimize the systems and regulatory measures on the basis of analysis and research, strengthen exchanges and communication with institutional investors, comprehensively improve the quality of market operation, bring the market functions into better play, serve all market participants, and support high-quality development of the real economy, so as to achieve "co-construction, sharing and win-win results" in the market.
