Basic procedures for opening new futures varieties
In our country, judging from a large number of materials and procedures that should be provided for the listing of new futures varieties, a non-market two-level examination and approval system is adopted. To list new futures products on the exchange, an application must be submitted to the China Securities Regulatory Commission, and the China Securities Regulatory Commission will report it to the State Council for approval. After these two passes, it can be listed and traded. Specifically, the listing of new futures varieties must first be reviewed by the futures exchange and then reported to the China Securities Regulatory Commission; After the CSRC makes the corresponding audit, it will be reported to the State Council; The State Council needs to seek the opinions of relevant state ministries, spot management departments and relevant provinces, autonomous regions and municipalities; After comprehensive feedback from all sides, the State Council will give instructions on whether to agree or disagree. At the most complicated time, the launch of listed varieties needs the approval of 18 ministries (the one-vote veto system has been relaxed recently). According to this path, as long as any department or link raises objections for various reasons, the birth of this variety will be stuck and face the fate of being temporarily stranded or even dying. In addition, the selection of futures variety resources or the location of futures variety listing are basically coordinated by the CSRC, and the listing time of varieties is also arranged by the CSRC.