CHINA: CSRC approves listing of Firewood and Plywood Futures on DCE

Wednesday November 27 2013

China Securities Regulatory Commission (CSRC) has published a reply to the Dalian Commodity Exchange (DCE) in respect of a request for instructions from the Exchange. The following reply has been issued in accordance with relevant stipulations of the Regulations for the Administration of Futures Trading and the Measures for the Administration of Futures Exchanges:

1. The listing of fireboard futures contracts and plywood futures contracts on the Exchange has been approved.

2. The specific time for the listing of fireboard futures contracts and plywood futures contracts may be decided by DCE based on market conditions and the progress made in various preparations.

3. DCE should, with the attitude of being highly responsible, provide all necessary supports and effectively prevent and appropriately solve any possible market risk, so as to ensure the successful listing of the fireboard futures and the ply wood futures.

4. After the listing of fireboard futures and plywood futures, DCE should, in line with the fundamental requirements of serving the real economy, keep a close eye on relevant spot markets, effectively perform duties as a supervisor and servicer in such important process as trading, clearing, delivery, and inspection, and continue to do well in market training and investors cultivation.

DCE is also required to report to the CSRC in the case of any major incidents that occur in the course of sponsoring the trading of fireboard futures contracts and plywood futures contracts.

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