2004年9月22日玉米期货品种在大连商品交易所上市,这是自1998年中国期货市场清理整顿以来,玉米期货的重新推出。玉米期货是国内现货规模最大的农产品期货品种。仅2006年上半年就成交了7 272.58万手,11 283.31亿元,占同期全部农产品期货交易的21%和32.6%。
On September 22, 2004, corn futures were listed on the Dalian Commodity Exchange, a re-introduction of corn futures since the clean-up of China’s futures market in 1998. The maize futures are the country’s largest commercial futures for agricultural products. In the first half of 2006 alone, 72,7258 million hands, or 1,128,331 million yuan, were traded, representing 21 per cent and 32.6 per cent of all agricultural futures traded during the same period.
首先交易所在玉米期货合约设计的五个原则,第一是大品种的设计思路。玉米在国内现货市场的年产量在1.3到1.1亿吨之间,这么大的品种,交易所在设计时就要考虑到我们所代表的期货市场能够反映绝大部分的现货玉米的状况,能够反映出玉米大品种的这个特点。这是我们在考虑玉米合约设计、制度建设的基本原则,这是我们根本的出发点。
First, the exchange's five principles for the design of the corn futures contracts at
注1:日盘交易分三个交易小节,分别为第一节9:00-10:15、第二节10:30-11:30和第三节13:30-15:00。
The demand for maize consumption, in addition to the demand for feed consumption, also has a large share of the demand for industrial fodder, including corn starch, corn alcohol, for which the indicators of concern are more than just those in the maize trade, which directly affect its business efficiency, and where many maize-based enterprises use the indicator of starch content as a basic indicator for the purchase of maize in the actual procurement process. But why is this indicator not included in our system of indicators? For two reasons, mathematically, it is found that there is a very clear positive relationship between the content and the content of the indicator, which can be replaced with the indicator of the content of the starch.
注2:本品种已开展夜盘交易,夜盘交易时间为21:00-23:00。
Note 2: This variety has been traded on night discs at 21:00 to 23:00.
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