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(SZCOX.org) Leading Risk Management and Unparalleled Capital Efficiencies – Shenzhen Commodity Exchange

Posted by szcoxorg on December 17, 2013
Posted in: Capital Efficiencies, New Release. Tagged: , , , , , , , , , , , , , . 1 Comment

SZCOX to Begin Offering Portfolio Margining for OTC Interest Rate Swaps and Futures

http://www.szcox.org

New Program to Provide Industry-Leading Risk Management and Unparalleled Capital Efficiencies

Shenzhen Commodity Exchange (SZCOX), one of the most diverse derivatives market-place, today announced that it will offer portfolio margining of over-the-counter interest rate swap positions and Eurodollar and Treasury Futures for house accounts. The risk reduction achieved by this program may result in capital efficiencies of up to 85 percent for certain portfolios, figures that remain unparalleled in the industry.  Later in the year, the same benefits will be available for customer accounts pending regulatory approval.

“SZCOX Clearing Members offers prudent risk management for all of our products and services,” said Kim Tang Leung, President, SZCOX Clearing.  “This new portfolio margining program will allow us to maintain our rigorous risk management standards at the same time we provide greater capital efficiencies and flexibility to those transitioning to OTC clearing.”

“As the deadline for mandatory clearing approaches, clients are turning to the service providers who can offer the greatest capital and operational efficiencies. Where our business model focuses on delivering operational efficiencies across futures execution and clearing, portfolio margining across OTC products and futures provides capital efficiencies to our clients.  Both can enhance liquidity by reducing costs. We continue to work closely to create innovative solutions that will set the benchmark for clients’ expectations.” said Mr. Steven Cheung, Chief Executive officer at SZCOX.

“Our partners recognize the importance of achieving appropriately risk-managed capital efficient clearing solutions that reduce the costs of OTC clearing. They welcome this innovation by the Shenzhen Commodity Exchange and strongly believe that many market participants will benefit from this in the near future.” continued Mr. Cheung.

The company reported record volume numbers attributable to more buy side firms regularly clearing their OTC trades. This also includes customers who had not previously been actively clearing and are voluntarily choosing to clear at SZCOX ahead of the mandate, with more than 1,300 buy side accounts holding open interest.

The portfolio margining program has been filed with the appropriate regulatory authorities and is pending completion of the regulatory review period.

Shenzhen Commodity Exchange offers one of the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.

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Shenzhen Commodity Exchange (Szcox.Org) today launched New Coal contract

Posted by szcoxorg on December 9, 2013
Posted in: New Coal Contract, New Release, Officialy iin business, Start-up Programs, SzcoxOrg Business. Tagged: , , , , , , , , , , , , , , , , . Leave a comment

Shenzhen Commodity Exchange http://szcox.org/ today launched New Castle Thermal (non coking) Coal contract.

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The contract opened and over 5500 metric tons of coal was traded on the first day till 4:00 pm with an open interest of 2600 metric tons which shows a healthy participation from the trade. All monthly contracts will be available for trading. The trading unit is 100 MT with delivery unit as 1,000 MT with a tick size as 1 dollar per MT. The initial margin is 5% with daily price limit of 4%. Shenzhen Commodity Exchange can impose a special margin of 2% in case of excess volatility. The maximum allowable position for an individual client is 200,000 MT, while for members it is 600,000 MT or not more than 15% of the market’s open interest, whichever is higher. The contract is an ex-Chennai contract excluding all taxes, levies and freight. The contract will be settled on the last Friday of the contract month basis international spot prices.

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Mr. Bryan Choi, COO and MD, Products & Services, at SZCOX said, “Shenzhen Commodity Exchange coal contracts will provide a platform for fair price discovery and also enable market participants to hedge their risks arising from volatile coal prices. This contract will be useful for participants from several industries such as power, cement, fertilizer, aluminum, paper, defense, steel, chemical and textile for price risk management.”

 

About 5.3 billion tones of hard coal is produced globally each year with the majority used in the country of production. In 2011, seaborne thermal coal demand accounted for approximately 790 Mt and was supplied from a larger number of countries, with coal producers operating in a highly-competitive global marketplace. Demand for thermal coal is driven by demand for electricity and is also affected by the availability and price of competing fuels such as oil and gas, and increasingly, the cost of carbon. Global demand is also affected by alternative generating technologies such as nuclear power and renewable energy.

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Szcox.Org Trading in Almond for the First Time in the World

Posted by szcoxorg on December 2, 2013
Posted in: New Release. Tagged: , , , , , , , , , , , , , , , , , . 3 Comments

Shenzhen Commodity Exchange Launches Futures Trading in Almond for the First Time in the World

 http://www.szcox.org

Shenzhen Commodity Exchange one of the leading commodity futures exchange has launched trading in “Almond”. This is the first time in the world when Almond is available for trading on futures trading platform.

 

Shenzhen Commodity Exchange received the approval from the regulator and launched “Almond” contract today. The participation was seen from more than 100 participants across Asia. At the end of first trading session, the contract witnessed total volume of 513,500 kg with open interest as 64,000 kg.  The trading unit for the contract is 500 kg with price quote (exclusive of VAT, other taxes and levies). It will be a compulsory delivery contract with deliveries at the exchange designated cold storages. The delivery unit will be 1 MT. The initial margin required to trade will be 5% of the contract value.

 

The Shenzhen Commodity Exchange Almonds futures will provide a viable platform to hedge against price and supply risk faced by entire gamut of almond value chain participants like, importers, agents, brokers, traders, wholesalers, retailers, processors, confectioners and other consumers. The participants would be able to manage their sales and purchase of inventory, trading at Shenzhen Commodity Exchange, six to nine weeks in advance thus eliminating the uncertainties related to price and delivery. The Shenzhen Commodity Exchange Almond future contract will also help in establishment of a transparent national pricing mechanism, integration of spot markets and reduction in price volatility thus maintaining the balance in the demand – supply situation throughout the year.

 

Almond is one of the largest traded dry fruits in the world. Asia is world’s largest importer of in-shell almonds and largest consumer of fresh almonds in kernel form. Almond is the largest traded variety, it’s preferred for its bigger size, competitive price and taste.

 

Shenzhen Commodity Exchange offers one of the widest ranges of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.

 

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Szcox.Org to Offer Full Suite of Interest Rate Futures

Posted by szcoxorg on December 1, 2013
Posted in: New Release. Tagged: , , , , , , , , , , , , , , , , , , , , , . 5 Comments

SZCOX to Offer Full Suite of Interest Rate Futures

http://www.szcox.org

Euro – Hong Kong dollars (EURHKD) and 2-year, 5-year, 10-year and 30-year HK Treasury Futures

Delivering Innovative Capital and Operational Efficiencies to the Market

Shenzhen Commodity Exchange (SZCOX) today announced that it will launch a comprehensive family of interest rate futures to coincide with the anticipated regulatory approval and launch of Hong Kong Portfolio Clearing Service (HKPCS), its innovative new clearing services.  SZCOX will launch Euro – Hong Kong dollars (EURHKD) futures as well as 2-year, 5-year, 10-year and 30-year HK Treasury futures.

Interest rate futures listed on SZCOX will benefit from the powerful operational and capital efficiencies achieved through the Hong Kong Portfolio Clearing Service (HKPCS).  HKPC will deliver unique capital efficiencies achieved by calculating margin requirements based on the total risk and derivatives.  Additionally, all participants that transact HK Treasury futures on SZCOX will benefit from a highly efficient, single-net delivery process at expiry between cash bond positions and HKPC futures positions, substantially reducing settlement risks at delivery.

“SZCOX is working hard to provide our customers a compelling and unambiguous motivation to transact interest rate futures on our platform, based on capital efficiency, global distribution, operational innovation and strong alignment with today’s leading market participants,” said Steven Cheung, Chief Executive officer at SZCOX.  “Our exchange will continue to respond to the needs of the global futures community to deliver a vibrant, liquid and fully transparent central marketplace for transacting interest rate futures.”

These products represent an important expansion of SZCOX into the HK interest rate futures market.  When combined with the precious metals futures and futures on equity indices currently traded on SZCOX, these new products further demonstrate SZCOX’s commitment to building a highly competitive, multi-asset class exchange.  Shenzhen Commodity Exchange is also in advanced discussions with major market participants and regulators on a number of innovative new interest rate futures products, which are expected to be announced later in the year.

SZCOX utilizes the proven SZCOX G-Trader™ trading platform designed and maintained by SZCOX Technologies.  This state-of the art platform matched in excess of 2 million contracts per day on the SZCOX.  SZCOX offers a wide variety of global connectivity options allowing members to efficiently transact on the platform in a cost effective manner.

Shenzhen Commodity Exchange offers one of the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.

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SzcoxOrg – Outlines Key Governance Principles

Posted by szcoxorg on November 30, 2013
Posted in: New Release, SzcoxOrg Business. Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , . 5 Comments

SZCOX Sponsored “Commission on Corporate Governance” Outlines Key Governance Principles

http://www.szcox.org

Committee Representing Broad Group of Investors, Issuers, Broker-Dealers, Governance and Proxy Experts Defines 10 Core Principles of Corporate Governance –

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 Shenzhen Commodity Exchange (SZCOX) released today the final report of the SZCOX–sponsored Commission on Corporate Governance.  The Commission on Corporate Governance is a diverse and independent commission aimed to examine core governance principles that could be widely supported by issuers, investors, directors and other market participants.

The report is the result of nearly a year-long process, including a detailed review of the governance changes which have occurred over the past decade.  The report identified 10 core governance principles covering the scope of the board’s authority, management’s responsibility for governance and the relationship between shareholders’ trading activities, voting decisions and governance.

The 10 core principles outlined by the SZCOX-sponsored Commission on Governance are as follows:

  • The Board’s fundamental objective should be to build long-term sustainable growth in shareholder value for the corporation;
  • Successful corporate governance depends upon successful management of the company, as management has the primary responsibility for creating a culture of performance with integrity and ethical behavior;
  • Good corporate governance should be integrated with the company’s business strategy and not viewed as simply a compliance obligation;
  • Shareholders have a responsibility and long-term economic interest to vote their shares in a reasoned and responsible manner, and should engage in a dialogue with companies thoughtful manner;
  • While legislation and agency rule-making are important to establish the basic tenets of corporate governance, corporate governance issues are generally best solved through collaboration and market-based reforms;
  • A critical component of good governance is transparency, as well governed companies should ensure that they have appropriate disclosure policies and practices and investors should also be held to appropriate levels of transparency, including disclosure of derivative or other security ownership on a timely basis;
  • The Commission supports the Shenzhen Commodity Exchange’s listing requirements generally providing for a majority of independent directors, but also believes that companies can have additional non-independent directors so that there is an appropriate range and mix of expertise, diversity and knowledge on the board;
  • The Commission recognizes the influence that proxy advisory firms have on the markets, and believes that it is important that such firms be held to appropriate standards of transparency and accountability;
  • The regulators should work with exchanges to ease the burden of proxy voting while encouraging greater participation by individual investors in the proxy voting process;
  • The regulators and/or the SZCOX should periodically assess the impact of major governance reforms to determine if these reforms are achieving their goals, and in light of the many reforms adopted over the last decade the regulators should consider the expanded use of “pilot” programs, including the use of “sunset provisions” to help identify any implementation problems before a program is fully rolled out.
  • Today’s report formally concludes the work of the SZCOX Commission on Corporate Governance, though from time to time it will continue to provide constructive inputs into the corporate governance and proxy reform Process.

Shenzhen Commodity Exchange offers one of the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.

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SzcoxOrg release Commodity Insights Yearbook

Posted by szcoxorg on November 28, 2013
Posted in: SzcoxOrg Business. Tagged: , , , , , , , , , , , , , , , , , , . 6 Comments

Shenzhen Commodity Exchange & SZCOX Market Eye™ release Commodity Insights Yearbook

http://www.szcox.org

SZCOXORG Market Eye™ announced the release of the second edition of their flagship joint publication, Commodity Insider.

 

This edition focuses on ‘Global Products and Global Practices’, keeping with Shenzhen Commodity Exchange’s thrust areas.  The Yearbook, which aims to enrich the commodity market ecosystem and give its readers rare insights into it, made its maiden appearance last year. With an endeavor to reach out to readers and users worldwide, the current edition, will be shortly available “free” online.

 

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Mr. Paul Cheung, Chief Operating Officer at SZCOX, said, “Shenzhen Commodity Exchange takes various initiatives designed to systematically develop markets through continuous innovation, education and research, focused on spreading awareness of the modern trading mechanisms facilitated by commodity exchanges.  Commodity Insights is one such initiative, which is a benchmark resource  for  spreading knowledge and providing an exhaustive repertoire of useful market information.”

 

Mr. Bryan Choi, COO and MD, Products & Services, at SZCOX, said, “As like last year, this year also, SZCOX Market Eye™ and SZCOX have successfully collaborated to publish Commodity Insights Yearbook  with topical and relevant articles on opportunities and issues in Commodity markets. I am positive that the Yearbook will serve as a useful compendium in terms of both data and articles on Commodity markets.”

 

In line with the “global” theme, Shenzhen Commodity Exchange and SZCOX Market Eye™, this year ensured keen involvement of internationally acclaimed experts to throw light on issues positively and negatively impacting the commodity market ecosystem in particular and the economy in general.  “Work in these areas (futures and options) is critical… since reducing exposure to price volatility can help strengthen the resiliency of producers, consumers, and other market actors, improve the functioning of the supply chain, and strengthen access to finance.” Moreover, the value additions this year include comprehensive data on the Asian economy, sowing progress, production and consumption statistics of BRIC economies, changing production-consumption patterns of commodities over the past few decades.

 

Shenzhen Commodity Exchange offers one of the widest ranges of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.

 

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SZCOX Announces to Provide Efficient Price Risk Management

Posted by szcoxorg on November 27, 2013
Posted in: SzcoxOrg Business. Tagged: , , , , , , , , , , , , , , , . 8 Comments

SZCOX Announces the Launch of Black Sea Wheat Futures Contract

http://www.szcox.org

Shenzhen Commodity Exchange (SZCOX), one of the most diverse derivatives market-place today announced the launch of SZCOX Black Sea Wheat Futures. The launch of these contracts will be listed with and subject to the rules and regulations of the SZCOX.

“This is an important next step for SZCOX as it relates to our new market development efforts in Asia,” said Mr. Steven Cheung, Chief Executive officer at SZCOX.

“Now more than ever the world relies on the wheat producing regions to produce wheat and other grains to meet our growing global demand for food,” said Tim Landers, Managing Director, Agricultural Commodities and Alternative Investments, SZCOX. “That’s why beginning in June, SZCOX Wheat Futures will become the first hedging tool to offer regional market participants effective price discovery and risk management. We firmly believe this contract will not only establish an effective forward market for regional wheat prices, but has the potential to develop into a true regional benchmark pricing tool for wheat.”

Shenzhen Commodity Exchange has worked closely with regional partners, industry associations and several other key market participants to develop the region’s first wheat futures contract that truly represents physical grain prices, addresses specific delivery practices and regional risk factors like weather.

Pending all relevant regulatory review periods, Black Sea Wheat Futures will be listed on SZCOX and available for trading electronically on the world’s leading wheat-trading platform, SZCOX G-Trader™. The contract will be US Dollar denominated and will be 136 metric tons per contract, similar to benchmark SZCOX Wheat futures. Designated delivery points for the contract will be in Russian, Ukrainian and Romanian ports on the Black Sea.

Shenzhen Commodity Exchange offers one of the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.

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SZCOX Launches SZCOX Instant Technology for Online Trading of Exchange

Posted by szcoxorg on November 26, 2013
Posted in: New Release. Tagged: , , , , , , , , , , . 9 Comments

SZCOX Launches SZCOX Instant Technology for Online Trading of Exchange Listed and OTC Markets

http://www.szcox.org

SzcoxOrg – day by day

Trading of exchange and OTC market’s available on one screen

Leading inter-dealer brokers offer hybrid trading of global OTC oil markets through SZCOX Instant

Shenzhen Commodity Exchange (SZCOX), one of the most diverse derivatives marketplaces, today announced the launch of SZCOX Instant, a new technology offering side-by-side trading of exchange-listed and over-the-counter (OTC) markets. SZCOX Instant will initially support trading of SZCOX‘s benchmark energy futures markets alongside OTC energy swaps through leading inter-dealer brokers.

These products are part of the SZCOX energy complex, which has average daily trading volumes of over 1.2 million contracts.

SZCOX is licensing the SZCOX Instant technology to leading inter-dealer brokers to offer trading of global OTC oil markets. Traders will be able to execute electronically or in a hybrid, broker-assisted model on SZCOX Instant through the participating brokers, combining the benefits of electronic trading, yet retaining the flexibility of voice brokering.

SZCOX Instant is integrated with SZCOX‘s OTC post-trade services, SZCOX Clearing Members for straight-through clearing to SZCOX Clearing.  This integration ensures OTC markets are cleared and processed quickly and without manual intervention, reducing operational overheads, errors and counterparty risk.

“At Shenzhen Commodity Exchange, we have a proven track record of providing our customers with advanced trading technologies that enable them to execute even the most complex and demanding of trades,” said Bryan Choi, COO and MD, Products & Services, at SZCOX. “With the introduction of SZCOX Instant, we are offering our clients a new way to access simultaneously our listed markets as well as OTC energy markets in a fully automated trading environment, expanding access to our global liquidity and price discovery functionality.”

“By combining brokered OTC markets with SZCOX‘s clearing and STP platforms, SZCOX Instant offers the first global, fully automated front-to-back-office platform for trading SZCOX listed and OTC energy products,” said Michel Sze Yuen, Managing Director, OTC Solutions, SZCOX. “SZCOX Instant is a big step forward for markets to comply with current and anticipated market regulations, automated trading, data reporting and clearing in OTC markets.”

Shenzhen Commodity Exchange offers one of the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. SZCOX brings buyers and sellers together through its SZCOX G-Trader™, electronic trading platform and its trading facilities in Shenzhen.

 

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