Recently, Dalian Commodity Exchange (DCE) entrusted China Futures Margin Monitoring Center (CFMMC) to conduct a questionnaire survey on DCE’s “minimum price change and night trading time” facing all futures investors. Currently, DCE has already launched the work on adjusting and optimizing night trading time.
From July 4 up till now, DCE has launched night trading for eight products, including No. 1 soybeans, soybean meal, RBD palm olein, coke, coking coal, and iron ore.
According to statistics from DCE, the night trading volume of such black series products including coke, coking coal, and iron ore concentrates before 12:00. The trading volumes of these products in this period account for 79.1%, 79.5%, and 92.1% of the total volume during night trading respectively, and those before 1:00 take up 95.9%, 95.6%, and 98.1% respectively.
With regard to market opinions and suggestions and on the basis of the analysis on night trading operation, DCE entrusted the CFMMC at the beginning of February to conduct the survey on the night trading time through its “Futures Market Investigation Platform”. The survey set up three closing times for night trading – 23:30, 01:00, and 02:30 and the feedback and reflection of the survey are under collection and evaluation. DCE will optimize the night trading time as early as possible on the basis of market operation analysis and market survey.
The current questionnaire also investigated the tick size of three products – LLDPE, PVC, and PP.