ZCE cotton yarn futures completes the first delivery under the new regulations

Xinhua News Agency, Zhengzhou, May 7 (Reporter Sun Qingqing) The reporter learned from the Zhengzhou Commodity Exchange that the ZCE cotton yarn futures recently completed the first delivery after the revised rules. In this CY2001 contract, a total of 132 lots were delivered, equivalent to 660 tons of cotton yarn. According to the relevant person in charge of ZCE, two of the 33 standard warehouse receipts delivered this time are warehouse receipts, marking the completion of the first warehouse delivery of cotton yarn futures and becoming another textile industry product that has achieved warehouse delivery after cotton. .　　 According to reports, the party involved in the delivery of the warehouse is the wholly-owned subsidiary of the world's top 500 company, Wuchan Zhongda Group-Wuchan Zhongda Yunshang Co., Ltd. The major cloud business in the product industry is mainly engaged in textile raw materials, using its own future business advantages, and cooperating with textile factories to sell 180 tons of cotton yarn at a price of 20,650 yuan/ton, and liquidate 140 tons at 19,400 yuan/ton. The remaining 40 tons will enter the delivery link. The company produced the first cotton yarn futures standard warehouse receipts for Hubei Xiaomian Industrial Group Co., Ltd. and Xinjiang Ruyi Textile and Garment Co., Ltd., and successfully completed the business links of warehousing, registration of warehouse receipts, delivery, and delivery. It is understood that in order to promote cotton yarn futures to give better play to the market function, on March 4, 2019, ZCE officially released the 'Cotton Yarn Futures Relevant Business Rules Amendments' to optimize the cotton yarn futures benchmark delivery products and substitute quality index systems, and to use warehouses. The delivery method has laid the institutional foundation for realizing the active cotton yarn futures.　　 From May 15, 2019, Cotton Yarn Futures began to carry out the market maker real offer trials to provide initial liquidity for cotton yarn futures trading. Data shows that with the formal implementation of the new contract rules and market maker system, cotton yarn futures transactions and open interest have gradually increased, achieving initial activity. As of the beginning of April this year, the average daily trading volume and open interest of cotton yarn futures reached 8816 lots and 7874 lots (unilateral, the same below), which increased by 97% and 607% respectively compared with before the rule revision, and the overall turnover rate reached 1.1. From the perspective of delivery, cotton yarn futures has produced 4 deliveries since its listing, namely CY1801, CY1810, CY1901, and CY2001, with a cumulative delivery volume of 216 lots or 1,080 tons. Article Keywords: 　Zheng Commodity Exchange New Rules for Cotton Yarn Futures Delivery