On November 29, Dalian Commodity Exchange (DCE) the first full-market trading test for the corn starch futures contract. The test reported smooth process with all function points showing normal, having comprehensively tested the safety and effectiveness of the trading system.
The test retained the existing products and added the newly approved product of corn starch, the contract code of which was "CS", (and on the day the test of the corn starch futures recorded a bilateral trading volume of 1.29 million contracts and a bilateral open interest of 9.95 million contracts.) According to the sources, on the day participating in the test were 158 members with more than 300 seats logging in and the test participants including the floor representatives of the members, the personnel related to the remote trading system and the settlement system and the market information providers, etc. In the course of the test, the trading representatives of the member units completed the test work for all the functions such as logging in, opening positions, closing positions, the correctness of the trading data, the speed of feedback for placed orders, the speed of feedback for transactions, the real-time quotation, placing the preparatory orders and the changes of funds.
A DCE worker in organization of the system test said that the simulation test for the trading of the corn starch futures saw active and enthusiastic participation of the members, the operation of the trading technical system examined from the perspectives of business and technology, and the participants getting familiar with the trading rules for the product, with the process and results of the test satisfactory and the trading and settlement normal.
A market participant said that the smooth testing of the system shows that with the guarantee in technology and business operation procedures, the corn starch futures are likely to be listed soon, and if the specific contract rules can be approved in the near future, the corn starch is expected to be listed within the year possibly.