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China Minsheng Bank (CMBC) successfully puts on sale the bank structural deposits related to the feedstuff futures price index of Dalian Commodity Exchange (DCE) on August 30, making it the commercial bank in the market that first issues the structural product related to DCE multi indexes after iron ore futures price index and soybean meal futures price index.
Market institutions have carried out various applications based on DCE feedstuff futures price index. Apart from the CMBC’s structural deposits, Orient Securities issued 2 income voucher products on the basis of the hog feedstuff cost index of DCE in June; Zhejiang, Guangdong and Henan Branch Companies of China Pacific Property Insurance issued 3 insurance products based on the hog feedstuff cost index, providing the feed cost guarantee of 66,400 hogs, totaled RMB 58.34 million. Besides, Huaxia Feed Soybean Meal ETF based on DCE soybean meal futures price index and its joint fund were approved on August 27 to come to the market soon.
To facilitate the development of the commodity index market in China and enrich the investment and risk management instruments, DCE has successfully released 37 commodity futures indexes, forming the index system that covers both agricultural and industrial products and involves comprehensive, component, theme, single commodity and customized indexes. From January to August this year, external institutions released 4 bank structural deposits and bank wealth-management products, 2 futures assets management plans, 10 securities traders’ income voucher products, and 3 index insurance products on the basis of DCE indexes, with a total amount of RMB 257 million. Next, DCE will continue to promote the research, development and application of commodity indexes and make preparations for the commodity futures ETFs to enter the market.
