Dashang Institute Huang Soybean and soybean oil options listing transactions

Source: China Food News

Newspaper (Reporter Bao Xiaotie) The China Securities Regulatory Commission has recently announced the approval of the Dalian Commodity Exchange (hereinafter referred to as the Da Shang Institute) from August 8, 2022 to carry out the launch of Huang Soy bean No. 1, Huang Soy 2 and soybean oil option transactions Essence At the same time, the notice of the Dato Institute officially issued the issue of Huang Soy No. 1, Huang Soy 2, and Soybean Oil Opportunity Contracts and Listing Transactions.

The notice pointed out that the upcoming listing of Huang Soy 1, Huang Soy 2 and soybean oil options contracts with the design of the rights contract with Dashang Institute have basically consistent, and will still adopt American -style rights banks to apply to the same set of rules systems. The Great Business Institute will start a trading of yellow soybeans No. 1, Huang Soy 2 and soybean oil options contracts on August 8th, and conduct night trading on the night, and the transaction time is consistent with the futures futures. On the first day of listing options, the contract monthly contracts starting from A2211, B2211, and Y2211, respectively, covering all the contract monthly contract monthly contract monthly contracts. The limits of Huang Soy 1st options are 15,000 hands, and the limits of Huang Soy 2 and soybean oil options are 20,000 hands. In addition, the notice also clarified the listing of the benchmark price, transaction instructions, exercise and performance, related expenses, and the market business system and contract inquiry.

Market participants said that the design of the soybean series option contracts not only fully refer to the successful experience of listed options such as soybean meal, but also conducts targeted design based on the characteristics of Huang Soy 1, Huang Soy 2 and soybean oil varieties, which can ensure the market. Stable operation can promote the effective play of functions.

At present, Dashang Institute has been listed on Huangdo Soy 1, Huang Soy 2, soybean meal and soybean oil futures, forming a relatively complete futures variety system. However, in the soybean series varieties, only a variety of soybean meal has been listed, and the industry urgently needs to list more options to meet the needs of diversified and refined risk management.

Market participants generally stated that the listing of Huangdo Soy 1, Huang Soy 2 and Soybean oil options will provide more complete risk management tools for the main body of the soybean industry chain in my country, improve the market pricing mechanism, and promote the "insurance+futures" of soybeans. The larger scope of promotion; on the other hand, it is conducive to further improve the domestic derivatives tool system, and enhance the influence of the domestic derivatives market and the ability of the futures market to serve the real economy.

It is understood that in recent years, the futures market has continuously explored the new path of agricultural risk management, and the scale of "insurance+futures" pilots has continued to expand. Since 2015, Dashang Institute has supported 57 soybean "insurance+futures" projects, involving a planting area of ​​8.808 million acres, 1.369 million tons of spot, a total of 294 million yuan, benefiting 284,700 farmers, and achieved good results achieved good results. Essence However, the current soybean "insurance+futures" mainly use futures replication options for risk hedging. There are problems such as risk hedging methods, high hedging costs, unable to volatility risk, and risk of bonding bonds. The scale and scope of pilot projects To a certain extent, it is limited. Tang Qijun, Executive Chairman of the China Soybean Industry Association and director of Nanhua Futures, said: "Soybean options will provide a low -cost, high -efficiency hedge tool for the market, and can provide pricing reference for outdoor options. Traders can directly use the field in the field Options hedging risk, reduce the "insurance+futures' hedging cost, and promote the healthy and sustainable development of the" insurance+futures "model."

It is understood that for many years, the rapid development and stable operation of my country's futures and options markets have laid a solid foundation for the Soybean series of options. In 2021, the average daily transaction volume of Huang Soy No. 1, Huang Soy 2 and soybean oil futures reached 200,000 hands, 70,000 hands, and 940,000 hands, respectively, with an average daily holding of 170,000 hands, 50,000 hands, and 730,000, respectively. Hands, and the industrial foundation is deep.

At present, more than 90%of domestic large and medium -sized oil and oil companies have deeply participated in the soybean series futures transactions and soybean meal options transactions, and accumulated a good industrial customer foundation for timely listing. At the same time, since the 2017 bean meal options are listed, my country's commodity option market has gradually formed a more complete rules and systems, providing institutional guarantee for the timely listing, and accumulating regulatory experience.

Source: China Food News

(Responsible editor: Bao Xiaotie)

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