The glass futures trading has got official approval of China Securities Regulatory Commission (CSRC). According to rules of "Regulations on Administration of Futures Trading" and "Management Regulation of Futures Exchange", China Securities Regulatory Commission will approve listed glass futures contract of Zhengzhou Commodity Exchange after all the preparatory work and relative programs are finished.
Officials of CSRC appointed that manufacturers, distributors and consumption enterprises are faced with larger market risk when lacking of authoritative price signals, the market urgently need futures trading for market price control and hedging.
China is the largest manufacturer country of flat glass, output of the country occupies more than half of the global market. Flat glass output of China is 39.25 million tons with annual output value over 60 billion RMB in 2011. Flat glass importing amount of China in 2011 is 223,000 tons while exporting amount is 2004,000 tons.
Zhengzhou Commodity Exchange has completed design work of glass futures contract, confirmed the contract mark, protocoled strict systems of trading, settlement and delivery and demonstrated risk control measures of cash deposit, limit ting up or down and position limit system. Glass futures will land Zhengzhou Commodity Exchange on December 3rd.
