The CSRC approves three bean options to list on August 8th

On July 29th, our reporter Wang Ning announced that the CSRC will be approved to carry out the Dato Institute from August 8, 2022 to launch Huangdo Dou No. 1, Huang Soy bean 2 and soybean oil options transactions. At the same time, the notification of the Da Shang Institute officially issued the issue of Huangdo Bean No. 1, Huang Soy 2 and Soybean Oil Opportunal Contracts and related matters related to listing transactions. According to the notice, the upcoming listing of Huang Soy bean 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. Forming a complete futures variety system, a large merchant institute, will start on August 8th, trading, yellow soybean No. 1, yellow soybean No. 2 and soybean oil option contracts, and launched night trading that night, the transaction time is consistent with the futures futures. It is understood that the monthly listing options corresponding contract month starts from A2211, B2211, and Y2211, respectively, and covers all the contract monthly contract monthly contract month. The limits of the 6 -dimensional right position of Huang Soy bean 1 are 15,000 hands, and the cureded soybean 2 and soybean oil option holding limits 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. It is understood that soybeans are both grain crops and oil crops, and they are also important raw materials for non -staple foods. In the past ten years, my country's soybean import/consumption ratio has remained more than 80%. According to data from the General Administration of Customs, in 2021, my country's soybean imports were 96.52 million tons, and the import amount reached 53.5 billion US dollars. The Party Central Committee and the State Council attach great importance to the steady development of my country's soybean and its industrial chain. They have repeatedly emphasized the vigorous expansion of soybean and oil production and enhanced soybean and oil production capacity. 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 will improve the level of risk management. It is understood that in recent years, in order to implement the spirit of the Central Document No. 1, the futures market has continuously explored the new path of agricultural risk management, and the scale of "insurance+futures" 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 obtaining good goodness Effect. 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. "Soybean options will provide low -cost, high -efficiency hedge tools for the market, which can provide pricing reference for outdoor options. Traders can directly use the risk of hedging on -site options to reduce 'insurance+futures' hedge costs, promote' insurance The healthy and sustainable development of the futures' model. "Tang Qijun, executive chairman of the China Soybean Industry Association and managing director of Nanhua Futures, said. Chu Jianhong, vice president of Zhongzhong Guobang (Tianjin) Co., Ltd., said, "my country is a major soybean import and consumer country, the market is huge, and there are many factors that affect the price fluctuations of related products. Under the situation where the US trade friction has not been eased and the global new crown epidemic situation is repeated, the market situation facing soybean -related industries is extremely complicated. Listed yellow soybean No. 1, yellow soybean No. 2 and soybean oil options can form a joint force with futures to increase more refined enterprises to increase the company Risk management tools to improve the level of risk management of industrial chain companies. "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.

Relevant person in charge of the Da Shang Institute said that during the design of the design of Huang Soy 1, Huang Soy 2 and soybean oil option contracts, the Great Commerce Institute fully borrowed the mature experience of the listed option contract, while taking into account the risk prevention and control and market liquidityFocusing on functional performance around the function to actively carry out market research, listen to and absorb opinions and suggestions from all parties in the market.In the next step, under the leadership of the CSRC, the Great Business Institute will make solid and comprehensive preparations for the listing to ensure that the options of yellow soybean No. 1, Huang Soy 2 and soybean oil options will be successfully launched and running smoothly. Together, the healthy development of my country's soybean industry is good.Picture | Site Cool Hero Bao Map Network review | Editor Wu Shan | Qiao Chuanchuan Final Audit | Li Hui

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