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On April 14, Dalian Commodity Exchange (DCE) organized China Futures Market Monitoring Center, futures-company members and information providers to carry out the 2nd full-market testing for the business of ushering in overseas traders of iron ore futures. This is the 1st full-market testing after the China Securities Regulatory Commission announced the date of ushering in overseas traders of iron ore futures. The testing has simulated the businesses of overseas traders’ account opening, trading authority setting, overseas brokers’ recording and settlement, foreign-currency withdrawals and deposits, risk control supervision and other business lines. The whole testing went on smoothly with accurate trading and settling data and verified the security of relevant systems again, which would guarantee the successful operation of relevant businesses.
A total of 138 futures-company members and 3 information providers took part in the full-market testing. According to the progress, all futures-company members completed the recording of 156 overseas brokers and opened up 365 overseas corporate clients; a total of 308 sums of US$ withdrawals or deposits were transacted; and the number of overseas traders’ entrusted transactions and the total trading volume were 7,825 orders and 14,791 contracts.
The full-market testing has reached the intended purposes and further verified the stability and effectiveness of relevant business lines and procedures. A market insider said that after the previous technical system upgrading and the full-market testing, futures companies, information providers and other market participants have been fully ready, and they would continue to make preparations to make sure the steady settlement and operation of the business of ushering in overseas traders of iron ore futures.
