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Key points of leaders of the exchanges and CSRC in the international futures conference held in Shenzhen at the weekend

Fang submitted 2019-12-02 11:31:12

Fang Xinghai:

As soon as possible, commercial banks and insurance institutions should participate in Treasury bond futures trading, and help promote the introduction of the futures law as soon as possible. Further increase the variety supply, enrich the derivative instrument system, and fill the blank of pig futures as soon as possible. Now the trading and risk management functions of stock index futures market have returned to normal, and the market is generally stable and healthy. We will encourage futures companies to take advantage of market-oriented means to acquire and merge, so as to achieve the survival of the fittest.

In December, soda ash futures, PTA, methanol, iron ore and gold options will also be listed. Add 6 commodity futures and 3 commodity options listed in the previous 11 months. "In 2019, the number of new varieties to be listed will reach 14, which is the most in China's futures market over the years".

Xiao Gang:

The derivatives market is an indispensable part of the financial market. We should strengthen the top-level design, break through the concept of "the derivatives market is a bad child", speed up the implementation of system supply and various policy measures, and give full play to the role of the derivatives market in resisting the risk of economic downturn.

DCE:

We will accelerate the listing of pig, LPG, dry pepper, container capacity futures and iron ore options, accelerate the research and development of gas coal, scrap, coke, coking coal, chicken, fructose syrup, ethanol, wood futures and related chemical options, and accelerate the opening of palm oil, yellow soybean No. 1, LLDPE, PP and other varieties to the outside world to realize the "one all two links" of futures, options, domestic and overseas in major varieties. At present, overseas mines and traders have begun to use the futures price of iron ore of DCE to gradually carry out the RMB business of iron ore and take the futures price of iron ore as the pricing benchmark.

ZCE

We will successively launch peanut, staple fiber, bottle slice, PX and other futures and power coal and glass options; we will further promote the research and development of coffee and potato futures, and launch them when the time is right. Over the counter options and other businesses will be carried out on the integrated business platform

SHFE

Low sulfur fuel oil futures will be launched in the first quarter of next year. In addition, the Containerized Freight Index Futures will fight for the next June. Alumina, ferrochrome, refined oil, natural gas and non-ferrous metal index futures are also actively expanding. In addition, in the previous period, the institute should accelerate the introduction of options on mature commodity futures, and strive to launch options on crude oil, zinc and aluminum in the next year; the futures and options of non-ferrous metal index should strive to be listed together. The increasing acceptance of China's crude oil futures price as a pricing benchmark reflects the formation of the price system of supply and demand relationship between China and the Asia Pacific oil market, which is a great progress.

Shanghai Stock Exchange:

We will promote and improve the reform of STAR Market. As the supply side reform of the secondary market is still relatively slow in general, if the supply of the secondary market is insufficient, it will not only affect the liquidity of the market, affect the pricing efficiency of the market, but also ultimately affect the function of the primary market to serve the real economy, which will directly lead to the failure of the primary market to fully play its function. The next step should be to speed up the research on the supply reform of the secondary market of STAR Market.

Shenzhen Stock Exchange:

Shenzhen Stock Exchange will continue to expand the core Index ETF products, enrich the ETF varieties, and promote the interconnection of ETFs. In addition, we should seize the current rare opportunity to ensure the smooth listing of the first Shanghai and Shenzhen 300 ETF options, give full play to the role of ETF options, and promote the healthy development of futures linkage.


周末在深圳召开的国际期货大会,会里和各交易所的领导们的要点:

方星海:

尽快实现商业银行、保险机构参与国债期货交易,协助推动《期货法》早日出台。进一步加大品种供给,丰富衍生品工具体系;尽快填补生猪期货这一空白。现在股指期货市场交易和风险管理功能都已经恢复正常,市场总体稳定健康。鼓励期货公司利用市场化手段收购兼并,实现优胜劣汰。

12月还将有纯碱期货以及PTA、甲醇、铁矿石、黄金期权等5个品种上市。加上前11个月上市的6个商品期货和3个商品期权。“2019年新品种上市数量将达14个,为我国期货市场历年之最”。

肖刚:

衍生品市场是金融市场不可或缺的组成部分,应该加强顶层设计,突破“衍生品市场是坏孩子”的观念束缚,加快制度供给和各项政策措施落地,充分发挥衍生品市场在抵御经济下行风险中的作用。

大商所:

将加快推进生猪、液化石油气、干辣椒、集装箱运力期货和铁矿石期权上市,加快推进气煤、废钢、焦炭、焦煤、鸡肉、果葡糖浆、乙醇、木材期货和相关化工期权的研发,加快推进棕榈油、黄大豆1号、线型低密度聚乙烯(LLDPE)、聚丙烯(PP)等品种对外开放工作,在主要品种上实现期货、期权,境内、境外的“一全两通”。目前,境外矿山、贸易商已开始利用大商所铁矿石期货价格,逐步开展铁矿石人民币业务,把铁矿石期货价格作为定价基准。

郑商所:

将陆续推出花生、短纤、瓶片、PX等期货品种和动力煤、玻璃期权;深入推进咖啡、马铃薯期货品种研发,待时机成熟时适时推出。将在综合业务平台上开展场外期权等业务

上期所:

明年一季度将会推出低硫燃料油期货。另外,集装箱运价指数期货明年6月份争取上。还有氧化铝、铬铁、成品油、天然气以及有色金属指数期货也在积极地拓展。此外,上期所要在成熟商品期货上加快推出期权,原油、锌、铝期权争取在明年推出;有色金属指数的期货、期权争取一起上市。中国原油期货价格作为定价基准的接受程度越来越高,反映中国和亚太地区石油市场供需关系价格体系正在形成,这是非常大的进步。

上交所:

将推动并完善科创板的改革。由于二级市场的供给侧改革总体来看进度还是相对缓慢,二级市场如果供给不足,不仅影响市场的流动性、影响市场的定价效率,最终也会影响一级市场服务实体经济的功能,也会直接导致一级市场的功能不能得到完全的发挥。下一步应该加快研究科创板二级市场的供给改革。

深交所:

深交所将继续做大核心指数ETF产品,丰富ETF品种,推动ETF的互联互通工作。另外,要抓住当前的难得机遇,确保首只沪深300ETF期权平稳上市,充分发挥ETF期权的作用,推动期现联动健康发展。


周末在深圳召开的国际期货大会,会里和各交易所的领导们的要点:

方星海:
尽快实现商业银行、保险机构参与国债期货交易,协助推动《期货法》早日出台。进一步加大品种供给,丰富衍生品工具体系;尽快填补生猪期货这一空白。现在股指期货市场交易和风险管理功能都已经恢复正常,市场总体稳定健康。鼓励期货公司利用市场化手段收购兼并,实现优胜劣汰。
12月还将有纯碱期货以及PTA、甲醇、铁矿石、黄金期权等5个品种上市。加上前11个月上市的6个商品期货和3个商品期权。“2019年新品种上市数量将达14个,为我国期货市场历年之最”。
肖刚:
衍生品市场是金融市场不可或缺的组成部分,应该加强顶层设计,突破“衍生品市场是坏孩子”的观念束缚,加快制度供给和各项政策措施落地,充分发挥衍生品市场在抵御经济下行风险中的作用。
大商所:
将加快推进生猪、液化石油气、干辣椒、集装箱运力期货和铁矿石期权上市,加快推进气煤、废钢、焦炭、焦煤、鸡肉、果葡糖浆、乙醇、木材期货和相关化工期权的研发,加快推进棕榈油、黄大豆1号、线型低密度聚乙烯(LLDPE)、聚丙烯(PP)等品种对外开放工作,在主要品种上实现期货、期权,境内、境外的“一全两通”。目前,境外矿山、贸易商已开始利用大商所铁矿石期货价格,逐步开展铁矿石人民币业务,把铁矿石期货价格作为定价基准。
郑商所:
将陆续推出花生、短纤、瓶片、PX等期货品种和动力煤、玻璃期权;深入推进咖啡、马铃薯期货品种研发,待时机成熟时适时推出。将在综合业务平台上开展场外期权等业务
上期所:
明年一季度将会推出低硫燃料油期货。另外,集装箱运价指数期货明年6月份争取上。还有氧化铝、铬铁、成品油、天然气以及有色金属指数期货也在积极地拓展。此外,上期所要在成熟商品期货上加快推出期权,原油、锌、铝期权争取在明年推出;有色金属指数的期货、期权争取一起上市。中国原油期货价格作为定价基准的接受程度越来越高,反映中国和亚太地区石油市场供需关系价格体系正在形成,这是非常大的进步。
上交所:
将推动并完善科创板的改革。由于二级市场的供给侧改革总体来看进度还是相对缓慢,二级市场如果供给不足,不仅影响市场的流动性、影响市场的定价效率,最终也会影响一级市场服务实体经济的功能,也会直接导致一级市场的功能不能得到完全的发挥。下一步应该加快研究科创板二级市场的供给改革。
深交所:
深交所将继续做大核心指数ETF产品,丰富ETF品种,推动ETF的互联互通工作。另外,要抓住当前的难得机遇,确保首只沪深300ETF期权平稳上市,充分发挥ETF期权的作用,推动期现联动健康发展。

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