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At a Dalian Commodity Exchange conference for 2006 delivery work on March 6th, Deputy General Manager Qu Lifeng said that in 2007, DCE would improve its delivery system and control the delivery risks to further develop its futures market.
DCE's new task will be carried out in four aspects, Qu said. First, DCE will enhance the design of the delivery system in line with the role of the futures market in guiding the production, stabilizing the market and forestalling risks; secondly, it will automate standard warrant transaction for a greater delivery volume; third, it will expand the delivery network of warehouses to draw more participants; lastly, it will enhance the management of the warehouses through the proper certifications for warehouses and warrant companies.
DCE's delivery processes functioned smoothly in 2006, with an accumulated volume of 1.01million tons spot deliveries for five products. Over the past year, DCE made adjustments on the standard of delivery quality of the soybean meal and corn contracts, and their premiums and discounts. These steps led to a closer integration of the futures market and the spot market.
