Non-ferrous metal continuous trading operates formally online
Source: www.chinamining.com.cn Citation: www.chinamining.com.cn Date:Dec.24, 2013
The continuous trading of four non-ferrous metals futures, like copper, aluminum, lead and zinc, operated formally on line on December 20. This was the second time that we started the night plate of continuous trading after the gold and silver, which signed the step forward of the internationalization of domestic futures market.
With new varieties listed at the same trajectory, non-ferrous metal high continuous trading starts the day after, and the market transactions is rather active. Yang Maijun, chairman of the Shanghai futures exchange, said the launching of non-ferrous metal continuous trading varieties would provide deeper and a wide range of price discovery and risk management services. At the same time, it would promote the internationalization of the futures market and provide the service of the construction of Shanghai international financial center.
Yang Maijun said that as the smooth development of the precious metals continuous trading, the call for continuous trading market of nonferrous metals launched rising. From the perspective of the continuous trading operation of gold and silver, the continuity of the market price had been improved and the linkage between the price of gold and silver and relatively international market had become closer. Meanwhile, night plate continuous trade increased the participation of the market, which made institutional investors and industry customers increased participation of hedging.
"Continuous non-ferrous metal trade helps to strengthen the linkage of domestic and international market price, enhance the smoothness of price, thus change present situation of domestic non-ferrous metals enterprise in the international trade contracts signed in the London metal exchange prices as the present pricing benchmark, and further enhance the international influence of China price." Chen Quanxun,China nonferrous metals industry association, pointed out.
The Shanghai futures exchange said that the next step was to stick to the principle of "high standard and stable starting". On the one hand, we must strengthen normalized management of continuous trading operations to provide comprehensive service to members and investors. On the other hand, we should make the management of daily risk-control and perfect market regulation to ensure smooth running of the market.
“Continuous trading of futures market is to increase the trading hours from 9P.M. to 0 A.M. of the next day apart from the daytime from Monday to Friday`s working day trading time to make the domestic market trading hours cover the world’s major exchanges time. On the one hand, the continuous transaction can make time with international market further; on the other hand, the continuous trading also can strengthen the correlation of domestic and international markets to strengthen the domestic market price influence." Analysts have pointed out. (Chen Yunfu / Yao Yujie)（translated by TLRHVC）
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