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Brief Introduction

Brief Introduction of ZCE

 

Zhengzhou Commodity Exchange (hereinafter referred to as ZCE) was founded in October, 1990. With the approval of the State Council, ZCE was established as a pilot exchange in China futures market and it is regulated by China Securities Regulatory Commission (CSRC).

As a self-disciplinary exchange, ZCE provides the venue, facilities and appropriate services for derivatives trading under the principles of openness, fairness, impartiality and good faith. ZCE performs functions described in the Regulations on the Administration of Futures Trading and the Measures for the Administration of Futures Exchange.

The Members Assembly is the supreme decision-making entity of ZCE and is constituted of all ZCE’s members. The Board is the standing presence of the Members Assembly, and under the umbrella institutes Strategic Advisory Committee and 7 specialized committees, including Products Committee, Trading Committee, Supervision Committee, Self-Disciplinary Committee, Finance & Audit Committee, Information Technology Committee and Risk Management Committee. Currently, ZCE has 164 members, 292 designated delivery warehouses (factories) and 14designated margin depository banks.

ZCE has 20 departments, including General Office, Board Office, Agricultural Products Department, Non-Agricultural Products Department, Futures Derivatives Department, Market Services Department, Member Services Department, Trading Department, Clearing Department,Delivery Department, Market Surveillance Department,Systems & Operations Centre,Legal & Compliance Department, Media Relations and Information Department, International Cooperation Department, Human Resources Department,Finance Department,Administration Department, Internal Audit Department and Discipline Inspection Office. ZCE also has three 3 regional branches including the R&D Centre in Beijing, the Service and &Development Centres in Shanghai and Urumchi, and 4 affiliates including ESunny Information Technology Co., Ltd, ZCE Futures & Derivatives Institute Co., Ltd, Future Hotel Co., Ltd and Future Commercial Operation Co., Ltd.

ZCE has launched 21 futures products, including common wheat, strong gluten wheat, early rice, late indica rice, japonica rice, cotton, cotton yarn, rapeseed, rapeseed oil, rapeseed meal, white sugar, apple, Chinese Jujube, thermal coal, methanol, pure terephthalic acid (PTA), flat glass, manganese silicon, ferrosilicon, urea, soda ash futures, and 5 options products including white sugar, cotton, PTA,methanol and rapeseed meal options, covering crucial fields of national economy including agriculture, energy, chemicals, textile, construction materials and metallurgical industries.

By the end of March 2020, ZCE realized a year-on-year growth of 7.88% in trading volume to 0.25 billion contracts, and a year-on-year growth of 9.08% in notional value to 8.76 trillion RMB.

 ZCE has implemented a set of futures trading rules, including margin requirement, daily price limits, daily mark to market settlement and physical delivery. ZCE would consistently improve its trading rules according to market developments and innovations.

 ZCE has well-functioning electronic systems for trading, delivery, settlement, risk monitoring, information release and member services. Members and investors can trade futures through a remote trading system. Market data is simultaneously released to domestic and foreign markets through a number of quotation systems, including Reuters, Bloomberg, and Shihua Information.

ZCE pays great attention to international communication and cooperation. ZCE joined the International Options Market Association in June 1995 and the World Federation of Exchange (WFE) in October 2012. In March 2019, ZCE joined Futures Industry Association (FIA). ZCE has signed cooperative agreements with overseas exchanges including CBOE, CME, MCX, HKEX, MexDer, AFET, TMX, DBAG and MOEX to enhance international communication, by which further expands ZCE’s international influence.

To embrace a brighter future, ZCE will take innovative measures to strengthen market regulation so as to build ZCE as a leading futures and derivatives exchange, which boasts of abundant tools, coordinated ETD and OTC trading, safe and efficient operation, and well-performed functions in both domestic and international markets.

 

 

Address:Futures Mansion,No.30 Shangwu Waihuan Road,Zhengdong New District, Zhengzhou,P.R.China 450018 Tel:86371-65610069
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