Dalian

Relevant Rules on Internationalization of Iron Ore Futures Released
Date：03 April 2018
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Dalian Commodity Exchange (DCE) officially releases relevant rules on introducing overseas traders for iron ore futures and the “SSE Business Guide for Trader Suitability of Specified Products”. A DCE official says that, in order to bring convenience for overseas traders to participate in domestic iron ore futures trading, DCE has made supplements to and improvements on relevant rules, so as to provide overseas traders with systematic guarantee to involve in iron ore futures. The release of these rules has laid a foundation for promoting the internationalization of iron ore futures and urging futures market to better serve the real economy.
The rules and amendments released this time include 2 new rules, the “Management Measures on Futures Company Members’ Futures Trading Business of Specified Products upon Entrustment by Overseas Brokers” and the “DCE Management Measures on Trader Suitability of Specified Products”, and 14 amendments including the amendment to the “DCE Detailed Rules for Trading”. With regard to the rules on the invoice issue and goods payment of bonded delivery of iron ore futures, the registration and transfer of bonded standard warehouse receipt of iron ore futures, the settlement of balance goods payment for warehouse receipt transfer and the forced liquidation time of exchange, their implementation time will be released according the specific time of introducing overseas traders of iron ore futures. Other rules shall come into effect as of the date of issuance. Overseas individual clients are not allowed to trade iron ore futures temporarily.
A DCE official says that DCE will promote the opening-up of China’s futures market on the basis of the development reality of international iron ore trading and strive to build an open and fair global trading platform, thus offering the pricing benchmark of iron ore trading for international industry clients and investors and deeply serving the real economy. On the basis of the steady landing and sound operation of the internationalization of iron ore futures, DCE will accumulate experience to promote the internationalization of more futures products.