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 the 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 trading, clearing, and settlement; surveilling market activities and enforcing rules; formulating and implementing risk management rules; organizing marketing and investor education events; providing market data and information services, etc.
As of now, a total of 17 futures and 2 options 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, ethylene glycol (EG) futures, soybean meal options and corn options, covering sectors of grain, oils and oil seeds, livestock, animal feed, forestry, chemical, energy, and metals. In addition, DCE has started introducing overseas traders into the iron ore futures market and formally launched commodity swaps business. DCE has 164 member firms, 314 designated delivery warehouses and 15 designated depositary banks. In 2018, DCE’s annual trading volume reached 982 million lots (unilateral, same below), down 10.84% from 2017. Its turnover totaled RMB 52.2 trillion, up 0.36% from 2017.
According to Futures Industry Association (FIA), DCE was the 12th largest exchange in the world by trading volume in 2018.