Founded in 1993, the Dalian Commodity Exchange (DCE) is a futures exchange approved by the State Council and regulated by China Securities Regulatory Commission (CSRC). Over the years, through orderly operation and stable development, DCE has already become world’s largest agricultural futures market as well as the largest futures market for oils, plastics, coal, metallurgical coke, and iron ore. It is also an important futures trading center in China.
The major functions of DCE include providing venues for futures and options trading; developing and listing contracts; organizing and supervising the trading, clearing, and settlement; market surveillance and rule enforcement; formulating and implementing risk management rules; organizing marketing and investor education events; market data and information services, etc.
By the end of 2017, a total of 16 futures contracts and 1 option contract have been listed for trading on DCE, which include No.1 soybean, soybean meal, corn, No.2 Soybean, soybean oil, linear low density polyethylene (LLDPE), RBD palm olein, polyvinyl chloride (PVC), metallurgical coke, coking coal, iron ore, egg, fiberboard, blockboard, polypropylene (PP), corn starch futures and soybean meal option. DCE has 165 member firms and 3.09 million investor accounts, including 89.3 thousand corporate accounts. DCE has designated 246 delivery warehouses and 14 margin depositary banks. In 2017, DCE’s annual trading volume reached 1101 million lots (unilateral, same below), down 28.37% from 2016. Its turnover totaled RMB 52.01 trillion, down 15.31% from 2016. The average daily open interest reached 6.24 million lots, up 1.94% from 2016.
According to Futures Industry Association (FIA), DCE was the 8th largest exchange in the world by trading volume in 2016.