Cotton futures on the new rules after delivery of 660 tonnes - for the first time
Textile information -
Textile net -
Textile integrated service provider
Recently, zhengzhou cotton futures successfully completed the revised rules for the first time delivery.
The CY2001 contracts totaling 132 hand delivery, or 660 tons of cotton yarn.
According to the relevant person in charge of nan Yang, 33 pieces of the standard of the warehouse receipt of the delivery, there are two warehouse to warehouse, it marks the cotton futures to complete the first single warehouse delivery, as is an implementation of warehouse for delivery after cotton textile industry.
Learned, involved in the warehouse for delivery of one side is the world's top 500 enterprises property cuhk group, a wholly owned subsidiary & ndash;
Product large cloud business co. , LTD.
Cuhk cloud trader with textile materials for the main business products, to do deep and fine textile sector business as the goal, using its period now business advantages, and textile depth cooperation, sold at the price of 20650 yuan/ton hedge 180 tons of cotton yarn, liquidated in 19400 yuan/tons 140 tons, the remaining 40 tons of the delivery.
The company respectively in hubei filial cotton industrial group co. , ltd. and xinjiang ruyi textile clothing limited company to make a single standard cotton futures warehouse receipt, smoothly from warehousing, registration of the warehouse receipt, delivery, delivery processes on various business links such as combing.
WeiShi textile co. , LTD. , as one of the cotton futures delivery factory library, also in the CY2001 contract delivery, and use the futures market risk management during the outbreak.
Cotton outbreaks earlier this year, the market situation is not optimistic, WeiShi 100 hand cotton textile decided to open all the delivery.
According to the experience of previous delivery, WeiShi textile efficient registration into the warehouse receipt, final settlement and settlement price 19730 yuan/ton, hedge profit of about 1 million yuan.
According to introducing, in May 2019 the sino-us trade during the negotiation, WeiShi downstream textile based on orders, mills inventory analysis of the factors such as cotton textiles prices will be volatile.
In response to the market price fluctuation in the various uncertain factors bring risks, WeiShi textile decided to use to sell cotton futures hedging.
In May 2019 to December, WeiShi textile in CY2001 contracts have sold 1055 hands, sell for an average of 20835 yuan/ton.
Late cotton, cotton prices fell sharply, due to advance in the disk lock in a profit, in the process of spot prices fell sharply, the futures market profit effectively made up for the loss of textile WeiShi spot sales, a total loss of ten thousand yuan, more than 60 which sold by buying cotton yarn across a variety of arbitrage model profit 7.
Since the cotton futures since listing, WeiShi textile participated in three times for delivery, from the initial dozens of tons, more than one hundred tons, to 500 tons of CY2001 contracts, revenue from the first to participate in tens of thousands, hundreds of thousands to the more than one hundred.
In futures trading volume and returns to the delivery is a breakthrough, WeiShi textile for enterprises in production and business operation and risk management experiences for the better use of this tool cotton futures.
Li Youyin WeiShi textile chairman, said the varieties of cotton futures as the most direct hedge, cope with volatile prices in the cotton production management enterprise is the role of other varieties cannot replace, the correlation of cotton yarn and cotton price is high, the upstream and downstream can double varieties to two or morethings, offers an excellent customer service industry, with the maturing of the market, also will be priced in the market direction, industry and so on have the effect of vane.
Have learned, in order to promote better exert the market function, cotton futures on March 4, 2019, nan Yang release amendment of the cotton futures related business rules, optimizing benchmark cotton futures delivery goods and substitute quality index system, enable the warehouse delivery way, for the realization of the system basis is provided for active cotton futures.
On May 15, 2019, cotton futures began to carry out the market-making firm competition, provide initial liquidity for cotton futures.
Data show that with the new contract rules and market maker system formally implemented, cotton futures transaction, holdings gradually rise, preliminary active implementation.
So far this year in early April, cotton futures daily average volume, open interest, respectively 8816, 7874, hand (
Unilateral, hereinafter the same)
, compared with the revised rules before growth of 97%, 607% respectively, and the overall turnover rate of 1.
From delivery, cotton futures produced four times for delivery, since listing CY1801, CY1810 respectively, CY1901, CY2001, cumulative delivery rate 216 or 1080 tons.