The “2018 Workshop on Iron Ore” of Dalian Commodity Exchange (DCE) – Futures Institute was closed in Dalian lately. In the context of iron ore internationalization, the workshop aims to enhance the professional service capacity of the futures market. Its 28 branch institutes, including the one in Beijing, also organized training courses at the same time to enhance the professional standard of relevant staffs in the futures companies and improve the futures market’s capacity of serving the industrial economy through a systematic training on the rules of iron ore internationalization, the latest development of the industry, the futures market operation, and the corporate risk management.
According to a DCE official, experts in the futures industry have been invited to the workshop. And such courses on the “operation of iron ore market and the introduction of international rules”, the “diversified investment practices (basis, arbitrage and over-the-counter options) of iron ore derivatives instruments”, the “practices on international trading of iron ore and risk management”, the “risk management patterns of iron and steel enterprises” and the “explanation on new accounting standards for hedging” have been arranged to analyze and forecast the internationalization business of iron ore in different aspects and offer relevant cases for enterprises to use the futures market to manage risks.
The workshop has helped employees in the futures industry to have a deeper understanding on the risk management pattern of domestic iron and steel enterprises. After the usher-in of overseas traders of iron ore futures, the domestic futures market will embrace a historic opportunity at a new start, and the industry needs more training activities to enhance its capacity of serving the entity industry. Next, DCE hopes to intensify the training on the global purchase and trading of domestic and foreign iron and steel enterprises and invite heads of the purchase departments of some domestic large iron and steel enterprises and heads of the trading departments of overseas iron and steel enterprises to deliver special training classes, thus allowing staffs of domestic futures companies to go international and have an international vision and further enhance the service capacity of the futures industry.
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