Overview of ZCE

  • 时间: 2015-07-12 15:57:52
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Zhengzhou Commodity Exchange (ZCE) is the first pilot futures market approved by the State Council. Being one of the four futures exchanges in China, ZCE is under the vertical management of China Securities Regulatory Commission.

ZCE performs its functions according to Futures Trading Management Ordinance, Futures Exchanges Regulation and implements self-regulation in accordance with Zhengzhou Commodity Exchange Constitution, Zhengzhou Commodity Trading Rules. ZCE abides by the principle of openness, fairness, justness and good faith, provides a marketplace with associated facilities and services for the futures trading and regulates the futures trading.

ZCE adopts a membership system. At the end of 2013, 203 members, coming from 27 provinces, municipalities and autonomous regions in China, had been registered. Among the total, futures company member (162) accounts for 80%, non-futures company (41) accounts for 20%.

At present, the listed products on ZCE include wheat (Strong Gluten Wheat and Common Wheat), Early Long Grain Non-glutinous Rice, Japonica Rice, Cotton, Rapeseed, Rapeseed Oil, Rapeseed Meal, White Sugar, Steam Coal, Methanol, Pure Terephthalic Acid (PTA) and Flat Glass, form a comprehensive range of products covering several crucial areas of the national economy include agriculture, energy, chemical industry and construction materials.

ZCE carries out some futures trading systems such as Margin Requirement System, Daily Price-limit System, Mark-to-the-market System, Physical Delivery System and so on. It actively adapts to market demands, and constantly optimizes system arrangements.

ZCE has fully functional electronic system, including trading, delivery, clearing, risk control, news release, member services and so on. The transaction order may be directly input by the members and investors through the long-distance transaction system. The information of trading on ZCE has been released through Reuters, Bloomberg, Shihua and so on.

ZCE pays great attention to international communication and cooperation. It joined the International Options Market Association in June 1995 and joined the World Federation of Exchange (WFE) as a member exchange in October 2012. ZCE successively signed several friendly cooperative agreements with overseas exchanges such as Chicago Board Options Exchange Chicago Mercantile ExchangeNYSE Euronext Group Multi-commodity Exchange of India, Abuja Securities and Commodity Exchange, Hong Kong Exchanges and Clearing Limited, Agricultural Futures Exchange of Thailand, Mexican Derivatives Exchange and TMX Group etc. It exchanges market information regularly, further expands influence of ZCE in international market.

Adhering to the principle of openness, fairness and justness, unswervingly bringing market functions serving real economy into full play as direction, ZCE will reinforce market fron-line supervision, strengthen the construction of the market-based fundamental systems, pratically secure the legitimate rights and interests of investors, especially mediun and small investorskeep to improving the market performance quality and development quality and work hard to make ZCE an modernized futures exchange with importance and influence both in the internal and international markets.

Website: http://english.czce.com.cn/enportal/index.htm

Rulebook: http://english.czce.com.cn/enportal/Services/KnowledgeCenter/DetailedRules/H69040101index.htm

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