The information platform for trading certain information and goods needs a fixed place called the exchange.Exchange, with the help of information platformproperty rightInformation sharing, transactions in different places, unified coordination,Property rights trading marketAnd various terms.
Trading in securities or commoditiesblock tradeWe can buy and sell both spot and futures in the market.Usually divided intostock exchangeAnd commodity exchanges.Instead, stockCorporate bondsThe name of the trading partnerStock Exchange；withBulk commodities(such as cotton, wheatIron ore, crude oil, etc.) is called commodity exchange.
Domestic Exchange
Announce
edit
Shanghai Stock Exchange
Shanghai Stock Exchange(Shanghai Stock Exchange) is one of the two stock exchanges in mainland China, located in ShanghaiPudong New Area。The Shanghai Stock Exchange was founded on November 26, 1990 and officially opened on December 19 of the same year.By the end of 2009, SSE had 870 listed companies and 1351 listed securities,Total market value of shares18465523 million yuan.a large numbernational economyPillar enterprises, key enterprisesBasic industryThrough listing, enterprises and high-tech enterprises have raised development funds and transformedOperating mechanism。
The trading time of the SSE market is from Monday to Friday.In the morningQianshi, 9:15 to 9:25call auction Time: 9:30 to 11:30Continuous auction Time.In the afternoonAftermarket13:00 to 15:00 is the time for continuous biddingClosed marketThe market is closed every day.Shanghai Stock Exchange is a non-profit legal person and belongs to the CSRCDirect management。Its main functions include: providing places and facilities for securities trading;To formulate a stock exchangeBusiness Rules；Accept listing application and arrangeListing of securities；Organize and supervise securities trading;Supervise members and listed companies;Management and publicationMarket information。Shanghai Stock Exchange adoptsElectronic biddingTransaction mode: purchase and sale of all listed securitiesAll mustPublicly declare the bidding through the computer host, and the host willPrice priorityThe principle of time priority automatically matches the transaction.In November 2009, Shanghai Stock Exchange upgraded to a new generationtrading system After that, the peak order processing capacity reached 80000 transactions/second, and the daily bilateral transaction capacity of the system was not less than 120 million transactions, equivalent to the daily transaction scale of 1.2 trillion yuan in a single market.[1]
Shenzhen Stock Exchange
Shenzhen Stock Exchange(hereinafter referred to as "SZSE") was established on December 1, 1990 toCentralized securities tradingProvide places and facilities, organize and supervise securities trading, perform the duties specified by relevant national laws, regulations, rules and policies, and implementSelf discipline managementLegal person.The main functions of Shenzhen Stock Exchange include: providing places and facilities for securities trading;Formulate business rules;to examineSecurities listing applicationArranging the listing of securities;Organize and supervise securities trading;Supervise members;Supervise listed companies;Manage and publish market information;Other functions permitted by the CSRC.
Shenzhen Jiaotong University builds China's multi-level capitalMarket systemFor its mission, we will fully support the development of China's small and medium-sized enterprises and promote independent innovation in the countrystrategy implementation 。In May 2004,SME boardOfficially launched;In January 2006,Zhongguancun Science ParkareaUnlisted companyQuoted transfer of sharesStart pilot;In October 2009,GEMIt was officially launched, and the multi-level capital market system structure was basically established.
SZSE adheres to the fundamental concept of improving market transparency, implements the eight word policy of "supervision, innovation, cultivation and service", and strives to create an open, fair and justmarket environment。
Zhengzhou Commodity Exchange(hereinafter referred to as Zhengshang Office) was established on October 12, 1990, which is the first one approved by the State Council in Chinafutures marketThe pilot unit officially launched futures trading on May 28, 1993, two years after the successful operation of spot trading.It is one of the four futures exchanges in China and is subordinate to the China Securities Regulatory CommissionVertical management。
Zheng Shangsuo has successively launched wheat, mung beansesame, cotton yarnpeanut meatAnd other futures trading varieties. At present, the varieties approved by the CSRC for trading include wheat, cotton, sugar, refinedterephthalic acid （PTA）、Rapeseed oil、Early indica riceAnd other futures varieties, of which wheat includes high-quality strong gluten wheat and hard winter（New national standardCommon) wheat.By the end of 2005, Zheng Merchants Exchange had concluded 440.81 million futures contracts,Transaction amount13826.1 billion yuan.From 1997 to 1999, the volume of futures trading of Zhengshang Exchange ranked first in China for three consecutive years,market shareAbout 50%.At present,ZhengzhouWheat andCotton futuresIt has been incorporated into the global quotation systemHedgingAnd other aspects."Zhengzhou price" has become an important indicator of global wheat and cotton prices.The varieties listed on Zhengzhou Commodity Exchange are: white sugar -- SR PTA -- TA cotton -- CFStrong wheat--WSHard wheat--WTIndica rice--ER Methanol -- ME.
Shanghai Futures Exchange
Shanghai Futures ExchangeIt is a legal person established in accordance with the relevant laws and regulations, performing the duties prescribed by the relevant laws and regulations, being subject to the centralized and unified supervision and management of the CSRC, and exercising self-discipline management in accordance with its articles of association.Gold, silver, copper, aluminum, zinc, leadScrew thread steel, wire rod, fuel oilNatural rubber、Petroleum asphalt, hot-rolled coil and other futures contracts, and launched theContinuous transaction。
Shanghai Futures Exchange adheres to the scientific concept of development as the guide, and thoroughly implements the State Council's proposal on promotingcapital marketReform, opening up and stable developmentstrategic decision , follow the policy of "tamping the foundation, deepening reform, promoting opening up, expanding functions, strengthening supervision, and promoting development", organize transactions in strict accordance with laws, regulations, policies, and systems, earnestly perform the front-line regulatory responsibilities of the market, and strive to create a safe, orderly, and efficientmarket mechanismTo create an open, fair, just, honest and transparent market environment, the long-term goal is to strive to build a standardized, efficient, transparent, comprehensive and international derivatives exchange, and the goal in the next five years is to build aAsia-PacificExchange of commodity futures, options and other derivatives with leading time zone and global influence.
Shanghai Futures Exchange has more than 200 members (includingFutures companiesMembers account for nearly 77%), and more than 700 remote transaction terminals have been opened across the country.[2]
China Financial Futures ExchangeIt is approved by the State Council and the China Securities Regulatory Commission and jointly established by Shanghai Futures Exchange, Zhengzhou Commodity Exchange, Dalian Commodity Exchange, Shanghai Stock Exchange and Shenzhen Stock ExchangeInitiate establishmentFinancial futures exchange.China Financial Futures Exchange was established in Shanghai on September 8, 2006,registered capital500 million yuanRMB。The establishment of China Financial Futures Exchange will deepen thefinancial marketReform and improvefinancial market mechanismIt is of great strategic significance to give full play to the function of the financial market.
The main functions of China Financial Futures Exchange are to organize and arrange financial futures, etcFinancial derivativesListing, settlement and delivery;formulateBusiness managementRules;Implement self-discipline management;Release market transaction information;Provide technology, place and facility services;Other functions permitted by the CSRC.[3]
Guangzhou Futures Exchange
Guangzhou Futures Exchange(hereinafter referred to as the Canton Stock Exchange) was listed and established on April 19, 2021. It is the fifth futures exchange approved by the State Council and the China Securities Regulatory Commission.Guangzhou Futures Exchange was jointly established by Shanghai Futures Exchange, Zhengzhou Commodity Exchange, Dalian Commodity Exchange, China Financial Futures Exchange Co., Ltd., China Ping An Insurance (Group) Co., Ltd., Guangzhou Financial Holding Group Co., Ltd., Guangdong Zhujiang Investment Holding Group Co., Ltd., and Hong Kong Exchanges and Clearing House Co., Ltd,It is the first mixed ownership exchange in China.The establishment of Guangzhou Stock Exchange is an important measure to improve the multi-level capital market system, serve green development, serve the construction of the Guangdong Hong Kong Macao Greater Bay Area, and serve the "Belt and Road" initiative.
In May 2021, the two-year variety plan of Guangzhou Stock Exchange was approved by the China Securities Regulatory Commission, which clearly assigned 16 futures varieties to be researched, developed and listed by Guangzhou Stock Exchange, including major strategic varieties related to the basic fields of the national economy and energy price reform such as carbon emission rights and electricity, innovative varieties of commodity indexes such as China Securities Commodity Index, energy and chemical industry, feed breeding, steel plant profits, industrial siliconPolycrystalline silicon, lithium, rare earth, platinum, palladium and other industrial characteristics closely related to green and low-carbon development, coffee, sorghum, indica rice and other regional characteristics with the characteristics of the Guangdong Hong Kong Macao Greater Bay Area and the "Belt and Road", as well as international market products.[8]
London Metal Exchange(LME) is the largest non-ferrous metal exchange in the world. The price and inventory of the London Metal Exchange have an important impact on the worldwide production and sales of non-ferrous metals.In the mid-19th century, Britain was the largest tin and copper producer in the worldCountry of production。With the passage of time, industrial demand has been growing, and Britain urgently needs to import a large number of industrial raw materials from foreign mines.From the beginning of this century, the London Metal ExchangePublic releasehisTransaction priceAnd is widely regarded as theguide price。All copper in the worldoutput70% is officially announced by the London Metal ExchangeQuoted priceTrading on a benchmark.
The London Intercontinental Exchange is a world leading financial andcommodity futures Exchange andSettlement CenterGroup.In November 2013, ICE completed its acquisition of NYSE Euronext, forming an exchange system.
CBOTOn July 12, 2007, the Exchange has been working with CME（Chicago Mercantile ExchangeTo become the world's largestderivativeThe exchange is the Chicago Mercantile Exchange Group (CME GroupInc.）The Institute mainly markets soybean, corn, wheat and other agricultural product futures varieties, which are the most authoritative futures varieties in the world, and their prices are also the most authoritativefutures prices。
5 Chicago Mercantile Exchange (CME)
ChicagoCommercial exchange;(CME Chicago Mercantile Exchange) is the largestfutures exchangeIt is also the world's second largest exchange for trading futures and futures option contracts.The Chicago Mercantile Exchange provides investors with a number of financial and agricultural products transactions.Since its inception in 1898, the Chicago Mercantile Exchange has continued to provide an ownership riskmanagement toolTo protect investors fromfinancial products And tangiblecommodity priceThe risk of change, and make themhave a chance toMake a profit from the transaction.
New York Futures ExchangeFounded in 1998, it was merged by the New York Cotton Exchange and the Coffee Sugar Cocoa Exchange.Implemented by the newly established New York Futures ExchangemembershipIts members are also members of the original two exchanges, including 450 cotton members and 500 coffee, sugar and cocoa members. Since the merger will not be completed until 2005, the two types of members cannot trade varieties with each other.New York Futures Exchange is the only trading company in the worldCotton futuresAnd options exchange.
Singapore Commodity Exchange(Singapore Commodity Exchange Limited, SICOM), formerly SingaporeGumThe Local Products Exchange (RAS,Rubber Association of Singapore），yesSoutheast AsiaThe largest natural rubber futures trading place in the region.Mercantile Exchange of Singaporevolume2 million tons, actually delivered 20000 tons.Singapore Mercantile Exchange asfutures market, Singapore Mercantile Exchange for International Rubberspot trade Instructive, based onFutures settlement priceAs an important reference for pricing.Its members do not need toTrading hall, whichElectronic transactionsThe network can provide them with fastQuotation system, the system can provide trading prices to all traders.
Tokyo Commodity Exchange (TOCOM).TOCOM was founded on November 1, 1984. It merged the Tokyo Textile Exchange (founded in 1951), the Tokyo Rubber Exchange (1952) and the Tokyo Gold Exchange (1982).
The first listed company isNetherlandsEast IndiaAssociates。1602 Dutch UnionEast India CompanyIt is the first joint stock company in the world.Through Xiang QuanSocial financingThe East India Company has successfully turned the scattered wealth of society into its own capital for external expansion.The purpose of establishing the East India Company was to send merchant ships to Nanyang to exchange for goods that were not available in Europe at that time, such as porcelain, spices, textiles, etc. These goods could be sold at a high price in Europe at that time, but no one could provide a large amount of money alone to prepare the fleet for navigation and trade, so people raised the required funds by issuing shares,For those who bought shares of the East India Company, the profits can be paid either in gold, currency or payment for goods, or directly in spice. Since the goods trafficked by the fleet may become more valuable year by year, they have considerable profits to make, so people are eager to buy shares of the East India Company in large quantities.The world's first stock exchange and the first stock began theirHistorical mission。[5]
The trading volume of Shanghai Futures Exchange ranks first in the world
The ranking list of turnover of global commodity futures exchanges in 2013 has been released. Shanghai Futures Exchange has 642 million hands (the smallestTrading unit）After three years, the turnover of.Volume ratio of Shanghai Futures Exchange in 2013 12Annual increase80%.In 2012, the Institute ranked 4th in the world.The reason for the rapid increase in trading volume is that the trading of precious metals and newly listed commodities is active, in addition, some personal funds flow from real estate and other fieldscommodity market。
The relevant ranking is made by the Tokyo Mercantile Exchange according to the international futures trading industry group——American Futures Association(FIA).[6]
