Macro strategy Morning Post

Commodity investment reference

comprehensive

1. Zheng Shangsuo: since the settlement on December 8, the trading margin standard of jujube futures 2201, 2203, 2205, 2207 and 2209 contracts has been adjusted to 18%; Since the night trading on December 6, the handling fee for daily closing of soda futures 2205 contract has been adjusted to 10 yuan / hand.

2. Zhu Lihong, general manager of Guangzhou futures exchange, said that China has the largest carbon market in the world. The free carbon quota issued by the Ministry of ecological environment in 2021 was about 4.3 billion tons. After the listing of carbon futures in the future, China has the potential to become the world’s largest carbon derivatives market.

3. Xi Zhiyong, deputy secretary of the Party committee and general manager of Dalian Commodity Exchange, said that he took improving the influence of important commodity prices as his goal, and accelerated the construction of soybean and iron ore pricing center in the process of opening up.

4. Wang Fenghai, general manager of Shanghai Futures Exchange, said that in terms of domestic and foreign linkage, the last period exchange will promote the listing of more open varieties such as shipping index, liquefied natural gas and naphtha, and study and explore the internationalization of gold futures; At the same time, we will continue to expand cooperation with various modes such as settlement price authorization of overseas exchanges, continue to promote the introduction of QFII and rqfii in the futures market, and explore international varieties to set up cross cutting libraries abroad.

5、 Guidance on promoting the standardized development of derivatives business (Exposure Draft) It is clear that financial institutions carrying out over-the-counter derivatives business should only face qualified investors, further standardize the relevant requirements on appropriateness assessment, risk disclosure, sales management and internal management, and encourage them to carry out transaction liquidation with reference to the rules of the organized market to prevent risks. Among them, special attention is paid to the protection of individual customers. Financial institutions are required to carry out derivatives business mainly for non individual investors. Banking and insurance institutions are prohibited from directly carrying out derivatives transactions with individual customers through the counter. Other financial institutions must formulate more prudent participation requirements for providing services to individual customers, and the relevant evaluation and sales requirements are more stringent.

 

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