Agricultural products options are ready for listing

"Zheng Shang Institute agricultural products options are ready to be launched at the most appropriate time." The relevant person in charge of Zheng Shang Institute said at the Agricultural products options Development Forum that under the background of the state's target price reform of agricultural products, the market placed higher expectations on agricultural products options. After the pilot trading of options is carried out, it is necessary to make the option trading tool better play its role in serving the real economy.

The relevant person in charge of Zheng Shangsuo said that Zheng Shangsuo already has the conditions to launch an option trading pilot, mainly reflected in four aspects: first, the formation of an option rule system. The results of multiple rounds of simulation and simulation transactions show that the design of option contract and rule system of Zheng Shang Institute has strong applicability and maneuverability, which is enough to meet the needs of option pilot. Second, the technical system has met the requirements of option listing. Zheng Shang Exchange end technology system option function is relatively complete, and has been officially launched on April 11 this year, has been running smoothly for more than 200 days. Third, many investors have received option training and education. Zheng Shang Institute began the market-wide simulation trading training last year, a total of more than 14000 investors from more than 140 members signed up to participate. Fourth, the market maker business has met the basic requirements of providing liquidity for the listing of options. In the market maker simulation trading competition, which began in late November, 64 institutions have been selected to participate in this market maker competition.

In addition, the above responsible person believes that since the beginning of this year, some new changes in the Zhengzhou futures market have also created conditions for carrying out pilot trading of white sugar and cotton options. First of all, Zheng Shang's variety position, transaction volume and transaction volume are all at an all-time high. Secondly, the structure of active varieties has been greatly improved. In the first 11 months of this year, Zhengzhou market accounted for 4 of the 10 most active varieties in the market. The number of active varieties in Zheng Shang has gradually developed from 4 in the past to "513", that is, 5 are active and 3 are more active. Third, the situation of active contracts in recent months has initially taken shape. Methanol, thermal coal, PTA, methanol, cotton and other varieties of contracts in recent months, the active time of trading has been delayed by 15muri 41 days. Finally, the trading volume and position of corporate customers have increased greatly compared with the same period last year, and the investor structure has been further improved.

"the premise of the function of agricultural options is sufficient liquidity. Because there are many listed trading contracts, the trading is scattered, and the trading focus shifts with the change of the market price, the market maker becomes the key to sufficient liquidity." The official said that Zheng Shang Institute attaches great importance to the construction of option market maker system and market maker business, and has also carried out a series of preparatory work before.

A reporter from the Futures Daily observed that at the site of this forum, the discussion topics between Zheng Shangsuo and representatives of participating organizations focused on the coding of market makers, technical connections, contract distribution and quotation, exemption of preferential obligations for handling fees, improvement of supervision, and so on. The topic is very specific and practical. It is believed that under the preparation of all parties in the market, agricultural options will eventually "break out of the cocoon".