China : Commodity exchanges ask firms to register products
Wed Nov 09 2016
Lucy Harlow (144 articles)
Share

China : Commodity exchanges ask firms to register products

SHANGHAI : China’s main commodity exchanges have asked finance firms to register details of their products, the latest move by Beijing to increase supervision over risky products.

China has taken a series of steps this year to cool the rise of highly leveraged commodities futures products as part of an attempt to reduce risk in financial markets.

Futures firms, funds, trust companies, brokerages and insurers, among others, will need to register their asset management products, the Dalian Commodity Exchange, Shanghai Futures Exchange and Zhengzhou Commodity Exchange said in notices posted on Tuesday.

For each product, a firm will need to disclose the fund manager, the investment consultant and the main shareholder, as well as other details, the notices said.

The Dalian and Shanghai exchanges asked firms to register details by Friday, while Zhengzhou set a deadline of Nov. 14.

The exchanges on Tuesday launched a series of fee hikes and margin increases for some of their most volatile, niche contracts from coke to glass as authorities cracked down on speculation that is fuelling a surge in prices.


Copyright (2016) © LiveIndex.org


Tags China
Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe