The assessment activity of “Top 10 Futures Research Teams 2012” of 2012 of Dalian Commodity Exchange that attracts wide-range attention from the sector was officially opened on September 3. The futures market paid much attention and attached high importance to the assessment activity this time. As of the closing date for participation registration, in total, 113 agricultural product teams and 100 energy & chemical product teams from 113 futures companies got registered for the assessment activity, up by 11.5% compared with the previous year. During the three-month competition period as of the date, the participating research teams will present their performance, depend on their research level and market service competence to compete for the honors of the “Top 10 Research Teams” and the “Most Potential Research Teams” of the two major series of the agricultural products and the energy & chemical products.
The assessment activity of the “Top 10 Futures Research Teams” this year will still measure the participating teams from six aspects including research report preparation, market situation forecasts and analysis, consistence between research report and actual transaction, trading record provision, simulation trading and on-site evaluation. The rankings of the participating teams will be based on the total addition of their scores during each stage of the teams. Finally, the awards of the top ten research teams of the agricultural products and the energy & chemical products, the most potential research teams of the agricultural products and the energy & chemical products, and the best research team leaders of the agricultural products and the energy & chemical products will be examined and presented.
Related responsible people of DCE introduced that the launch of the assessment activity this year is just during the prosperous development period of futures market. The industrial service function of the futures market is just playing its role, and various innovation businesses are continuously issued. Particularly, the launch of the asset management business of futures companies and the entry of the institutional investors into the market both require the futures companies to further increase their research level. Therefore, the theme of the assessment activity of the top ten research teams this year is defined as “Research Serves the Industry, Specialization Creates the Value”. At the same time, some changes are also made to the regulations to encourage the research teams to conduct well the in-depth research work, use the research results to serve the related industries, establish the research brands, and increase the product research and industrial service levels.
In order to cater the needs of the futures companies in developing the asset management business, guide the research teams to emphasize more on the research of the institutional operational strategies, the initial simulation operation funds of various research teams are increased from CNY 1 million up to CNY 10 million. In order to encourage the research teams to pay special attention to control the risks, stabilize the profitability and increase the assets management level, the score deduction items for the maximum recall proportion are added.
In terms of the product variety, the assessment activity this time enlists the coking coal into the scope of the energy & chemical product category in order to cultivate the research forces for this product variety, and at the same time promote investors to have a deeper understanding of the coking coal futures through the assessment activity.
Additionally, the assessment activity this time also increases the score weighing of the research report, and correspondingly lowers the scores for the trading record in order to encourage the research teams to emphasize the improvement of the research report level as well as completing the daily work. In order to make it closer with the actual simulation trading, the restriction of forbidding the opening of new positions during the last trading day during the assessment stage is added.
Related responsible people of DCE noted that in 2009, DCE started organizing the assessment activity of the “Top Ten Research Teams”, and by now, it has become one of the brand activities in the sector. It also has become an effective platform of the services for the DCE members and the education for the investors. It has made positive contributions in guiding the sector to emphasize the research, and promoting the futures companies to increase their research level.
