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Recently, the "Workshop on Regulatory Business for Chief Risk Officers of Member Units” sponsored by Dalian Commodity Exchange (DCE) was held at China Capital Market Institute (CCMI) in Shenzhen. Attending the event were more than 140 representatives from China Securities Regulatory Commission, China Futures Market Monitoring Center and the futures companies.
With chief risk officers at the core for risk control and compliance operation at futures companies, the training in the regulatory business for the chief risk officers should be strengthened to improve their capacity for risk control and compliance awareness, which is also of great significance to the overall smooth operation of the futures market.
To this end, in addition to the regulation dynamics, market conditions and other contents, the workshop also featured external experts lecturing on the characteristics of the current economic operation, economic trend analysis, prevention of financial risks and other macroeconomic situations, with the aim of helping the chief risk officers of the futures companies broaden horizons and improve foresight in risk prevention.
A DCE official said that DCE will continue to enrich the futures products in the future, advance the introduction of ethylene glycol, gas coal, styrene, steel scrap and other futures products, improve the contract rules, build the OTC market, and promote the sustained development of the market.
Briefing on the supervision tasks in the second half of the year, DCE hoped that the futures companies could effectively manage the related accounts under common control, fulfill the responsibility for managing unusual transactions, strengthen the supervision of the hedging clients, and make efforts in risk management for clients (reporting of major accounts, dealing with violations of position limits, etc.) and handling of clients’ complaints.
The participants in the workshop said that with the training courses well arranged to include macroeconomic situation, practical operation, risk control, businesses and other areas, they had been greatly benefited, and the event at CCMI had served as a bridge of interaction for DCE and the chief risk officers to discuss their efforts and exchange their experiences. It was hoped that there would be more such events in the future.
