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Homepage > About ZCE > Organization > Brief Introduction 
Brief Introduction

Zhengzhou Commodity Exchange (hereinafter referred to as ZCE) was founded on October 12, 1990. With the approval of State Council, ZCE was chosen as the first pilot unit in China’s futures market and it is regulated by the China Securities Regulatory Commission (CSRC).

ZCE is organized under the Regulation on the Administration of Futures Trading and the Measures for the Administration of Futures Exchange. ZCE is a self-regulated entity and it organizes trading activities strictly according to the laws and rules, and fulfills its functions as a front-line regulator.ZCE adheres to the principles that are generalized as openness, fairness, impartiality and good faith.

The Members Assembly is the supreme decision-making entity of the Exchange and constituted of all the Exchange members. The Board is the standing presence of the Members Assembly, and governs seven specialized committees including Strategic Advisory Committee, Products Committee, Trading Committee, Self-Disciplinary Committee, Finance & Audit Committee, Information Technology Committee and Supervision Committee. By the end of 2017, ZCE has 164 members, spreading over 26 provinces (municipalities) and autonomous regions, including 149 futures firm members accounting for 91% of all members and 15 non-futures firm members accounting for 9% of all members.

According to the bylaws of ZCE, the President is the legal representative of the Exchange. According to the needs of business, ZCE sets up 20 inner departments, including General Office, Office for Board of Directors, Agricultural Products Department, Non-Agricultural Products Department, Futures Derivatives Department, Delivery Department, Clearing Department, Market Surveillance Department, Legal & Compliance Department, Media Relations and Information Department, System Operations & Development Department, International Cooperation Department, Finance Department, Human Resource Department and Administration Department (Security Department), Market Service Department, Internal Audit Department and Discipline Inspection Department etc. ZCE also has 5 subsidiary companies including ESunny Information Technology Co., Ltd, ZCE Futures & Derivatives Institute Co., Ltd and R&D Beijing Centre etc.

Currently there are 18 futures contracts (12 agricultural products and 6 non-agricultural products) and 1 options contract available for trading on ZCE, including the futures on Wheat WH, Wheat PM, Cotton No.1, White Sugar, Rapeseed Oil, Early Rice, Japonica Rice, Rapeseed, Rapeseed Meal, Late Indica Rice, Cotton Yarn, Apple, PTA, Flat Glass, Thermal Coal, Methanol, Ferrosilicon, Manganese Silicon and White Sugar option. In 2017, ZCE’s annual trading volume achieved 586 million contracts which account for 19.05% of that in China’s futures market.

ZCE adopts a margin system, and a mark-to-market system for the centralized clearing of the members’ trading. And FF members are responsible for the clearing of the trading of their clients. Under the physical delivery system, all open contracts at expiration must be satisfied by physical delivery. Adhering to the philosophy of grasping two key links of both regulation and service at the same time, ZCE has offered thorough and prompt services to its members and investors.

ZCE stick to serve the real economy and serve the ‘three rural issues: agriculture, rural areas and farmers’, successfully innovated industry risk management instruments of the ‘ZCE Companies + Farmers, Futures + Orders’, which has received positive feedback from the market and the information of ZCE has been released through the mainstream media, such as CCTV News, Bloomberg, Reuters and Shihua.

ZCE pays great attention to international communication and cooperation. ZCE joined the International Options Market Association in June 1995 and joined the World Federation of Exchange (WFE) as a member exchange in October 2012. ZCE successively signed several friendly cooperative agreements with overseas exchanges such as Chicago Board Options Exchange,Chicago Mercantile Exchange,NYSE Euronext Group,Multi-commodity Exchange of India, Abuja Securities and Commodity Exchange, Hong Kong Exchanges and Clearing Limited, Agricultural Futures Exchange of Thailand, Mexican Derivatives Exchange and TMX Group etc to exchange market information regularly, further expanding influence of ZCE in international market.

Adhering to the principle of openness, fairness and justness, unswervingly bringing market functions serving real economy into full play as direction, ZCE will reinforce market front-line supervision, strengthen the construction of the market-based fundamental systems, practically secure the legitimate rights and interests of investors, especially medium and small investors,continually improve the market performance quality and development quality and endeavor to make ZCE an modernized futures exchange with importance and influence both in the 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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