New regulations on futures trading works

时间：2007-04-16 09:13:47

（单词翻译:单击）

Apr.16 - China's new regulations on futures1 trading came into effect on Sunday, extending its coverage2 from commodities futures trading to financial futures and option contract trading.

 

The new regulations, issued by the State Council on March 16 this year, will lay a legal foundation for the introduction of stock index futures, foreign exchange futures and option and other financial derivatives3, which will provide financial institutions with much-needed tools to hedge risks.

 

Objectives in a commodities futures trading include farm produce, industrial products, energy sources and related index product, while a financial futures trading involves securities, interest rates, exchange rates and related index products.

 

The regulations no longer prohibit financial institutions from doing futures trading or raising funds and offering securities for futures trading.

 

Seeing that securities dealers4, fund management companies and commercial banks will become the major participants in the financial futures market, futures companies are considered as financial institutions in the regulations.

 

According to the regulations, the Chinese futures market is required to improve its risk control system by setting up a guarantee fund and an interest compensation mechanism5 for futures investors6.

 

The regulations prescribe a series of measures to strengthen the supervision7 of the futures market in order to ensure its stable and healthy development, said Shi Jianjun, vice8 president of the China Futures Association.

 

The China Securities Regulatory Commission (CSRC), the country's securities market watchdog, has the authority to carry out investigations9 into the market participants and examine their transaction and financial data and bank accounts.

 

Fan Fuchun, vice chairman of the CSRC, said last month that China is likely to launch the trading of stock index futures in the first half of 2007.

 

Simulation trading was started in October last year to test the trading system at the Shanghai-based China Financial Futures Exchange (CFFE), which was inaugurated in September 2006 to become the country's first financial derivatives exchange.

 

China's futures market, composed of Shanghai Futures Exchange, Dalian Commodity Exchange and Zhengzhou Commodity Exchange and CFFE, turned over a record 21 trillion yuan (2.69 trillion U.S. dollars) last year.

 

Commodities traded on the country's futures market include corn, soybean meal, sugar, zinc10 and natural rubber.

 
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1 futures Isdz1Q     
n.期货，期货交易
参考例句：
  • He continued his operations in cotton futures.他继续进行棉花期货交易。
  • Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。
2 coverage nvwz7v     
n.报导，保险范围，保险额，范围，覆盖
参考例句：
  • There's little coverage of foreign news in the newspaper.报纸上几乎没有国外新闻报道。
  • This is an insurance policy with extensive coverage.这是一项承保范围广泛的保险。
3 derivatives f75369b9e0ef2282b4d10e367e4ee2a9     
n.衍生性金融商品；派生物，引出物( derivative的名词复数 )；导数
参考例句：
  • Many English words are derivatives of Latin words. 许多英语词来自拉丁语。 来自《简明英汉词典》
  • These compounds are nitrosohydroxylamine derivatives. 这类合成物是亚硝基羟胺衍生物。 来自辞典例句
4 dealers 95e592fc0f5dffc9b9616efd02201373     
n.商人( dealer的名词复数 )；贩毒者；毒品贩子；发牌者
参考例句：
  • There was fast bidding between private collectors and dealers. 私人收藏家和交易商急速竞相喊价。
  • The police were corrupt and were operating in collusion with the drug dealers. 警察腐败，与那伙毒品贩子内外勾结。
5 mechanism zCWxr     
n.机械装置；机构，结构
参考例句：
  • The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
  • The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。
6 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
7 supervision hr6wv     
n.监督，管理
参考例句：
  • The work was done under my supervision.这项工作是在我的监督之下完成的。
  • The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。
8 vice NU0zQ     
n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的
参考例句：
  • He guarded himself against vice.他避免染上坏习惯。
  • They are sunk in the depth of vice.他们堕入了罪恶的深渊。
9 investigations 02de25420938593f7db7bd4052010b32     
（正式的）调查( investigation的名词复数 )； 侦查； 科学研究； 学术研究
参考例句：
  • His investigations were intensive and thorough but revealed nothing. 他进行了深入彻底的调查，但没有发现什么。
  • He often sent them out to make investigations. 他常常派他们出去作调查。
10 zinc DfxwX     
n.锌；vt.在...上镀锌
参考例句：
  • Brass is formed by the fusion of copper and zinc.黄铜是通过铜和锌的熔合而成的。
  • Zinc is used to protect other metals from corrosion.锌被用来保护其他金属不受腐蚀。

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