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In 2022, guided by the goal of building a regulated, transparent, open, dynamic and resilient capital market, new achievements have been made in building DCE into a world-class derivatives exchange that integrates futures and physical, synergizes exchange and off-exchange, and connects domestic and overseas markets. The details are as follows:
First, the derivative product list has been constantly enriched.
Last year, DCE listed three options, including No.1 soybean (non-GMO), No. 2 soybean (GMO), and soybean oil. This has realized the coverage of futures and options tools in the soybean industry chain. The number of commodity futures and options listed on DCE has increased to 32, covering grain, oil, oil seed, timber, livestock, chemicals, energy, minerals, and other sectors.
Second, the opening-up of the market has been deepened continuously. Eight products of soybean futures and options suite are open to overseas traders, with the total number of products available to overseas traders rising to 11.Meanwhile, 14 futures and options are open to QFIs, providing oversea traders with more tools for risk management.
Third, efforts have been made to strengthen supervision in order to promote the stable operation and functioning of the market.
Last year, the commodity markets were faced with more uncertainties and greater price fluctuations. On one hand, DCE took advantage of the implementation of the Futures and Derivatives Law of the People’s Republic of China, adhered to "system development, no intervention and zero tolerance", strengthened market supervision constantly, and improved technological supervision ability. On the other hand, DCE focused on guiding industrial enterprises to use futures prices as reference for spot trading and risk management, and promoted the market functions into full play.
With great efforts and support of related stakeholders, over the last year, the market of DCE maintained a trend of seeking progress while maintaining stability. The total trading volume of commodity futures and optionsreached 2.28 billion lots, accounting for 34.4% of the total in Chinese mainland. The average daily open interest was 12.17 million lots, representing 37% of the total in Chinese mainland. The market risk carrying capacity continued to improve.
