Caida Futures Co., Ltd. was established in March, 1996. It is a state-owned professional futures brokerage company approved by China Securities Regulatory Commission and registered by the State Administration for Industry and Commerce. The company has the membership of Shanghai Futures Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange and China Financial Futures Exchange, and can act as an agent for futures trading, delivery, consulting, training and other businesses of the varieties listed on the above exchanges. Caida Futures Co., Ltd. is a financial enterprise which is absolutely controlled by Hebei Iron and Steel Group and specializes in futures brokerage business through Caida Securities. The company focuses on the risk management (hedging) business of industrial customers and other important customers, and provides hedging solutions for the risk exposure in their production and operation activities. At the same time, it serves the participants of venture capital in the futures market and provides professional services for their arbitrage and investment activities. Caida Futures Co., Ltd. is registered in Tianjin, the northern economic and financial center, with a registered capital of 654.38 billion yuan. Hebei Iron and Steel Group ranked 279th among the 20 1 1 Fortune 500 companies, and it is the largest steel producer in China, the largest rebar and wire producer in China, and the controlling shareholder of listed company Hebei Iron and Steel (formed by the reorganization of three listed companies, namely Tangshan Iron and Steel Company, Hangang Company and Chengde Vanadium and Titanium Company). Caida Securities is the only legal person brokerage firm in Hebei Province, with more than 100 securities outlets, covering 1 1 cities under the jurisdiction of Hebei Province, Beijing, Shanghai, Tianjin, Shenzhen, Jiamusi, Henan, Fujian and other places. It is a class A brokerage firm in the forefront of the industry. Caida Futures Company has a strong shareholder background and strong industrial background, and has become a rare futures company with both brokerage background and spot background in the industry.