Yes Zhengzhou Commodity Exchange is the first pilot unit of futures market in China approved by the State Council. Futures trading was officially launched on May 28th, 1993. At present, it is one of the four major futures exchanges in China. Therefore, Zhengzhou Commodity Exchange is a public institution. Zhengzhou Commodity Exchange is one of the five major futures exchanges in China, which is under the vertical management of China Securities Regulatory Commission.