Before the listing of iron ore options, Dashang Company listed the first commodity options-soybean meal option in China on March 3rd, 2065438, filling the gap in commodity options. 2019,65438+1October 28th corn option was listed again. Since the listing of soybean meal option and corn option, the system has been running normally and the liquidity is moderate. Investors are rational in trading, and unit customers actively participate; Reasonable and effective pricing and good linkage with the target market volume and price have become an effective risk management tool for investors. The relevant person in charge of Dashang Institute said that commodity options rules and system operation have been fully tested in practice and gradually matured.
At the same time, the iron ore futures market has developed into the world's largest iron ore derivatives market, with obvious advantages in market size, industry participation and international influence, and a solid foundation for listed iron ore options.
Recently, Vale, the world's largest iron ore producer, began to use futures prices to price iron ore sales, and the international representation and influence of iron ore futures prices are constantly improving. It is understood that since the iron ore futures were listed in June 20 13 and 10, the overall market operation has been stable and orderly. In 20 18, the futures trading volume and the daily average iron ore positions were 236 million lots and 804,800 lots, respectively, maintaining the largest iron ore derivatives market position in the world for many years. At the same time, the market structure is constantly improving, and 1200 steel and mining enterprises are deeply involved in futures trading. Before this year 10, the proportion of corporate customers' positions was 45%, up nearly 5 percentage points year-on-year. In May of 20 18, iron ore futures were introduced to overseas traders. By the end of this year 10, more than 70 overseas customers from 15 countries and regions were attracted, and their international influence continued to increase.
In addition, the "OTC option" pilot organized by the Dashang Institute earlier has also achieved results in iron ore projects. By the end of 20 18, a total of1/coal coke steel enterprises had participated in the 14 iron ore pilot project, which enhanced the understanding of industry customers on the characteristics and advantages of options and cultivated a large number of mature investors for the iron ore option market in the market. Listed iron ore options have a good customer base and investor demand support.