my country's futures market transaction scale sets a record in 2021
Our reporter Zhu Huichun
A few days ago, the China Futures Industry Association released 2021 national futures market transaction data.
Data show that in 2021, the cumulative trading volume of the national futures market is about 7.514 billion lots, and the cumulative trading volume is about 581.20 trillion yuan, a year-on-year increase of 22.13% and 32.84% respectively.
In 2021, the cumulative transaction volume and transaction value of the whole market hit a record high, showing that under the slowdown of global economic recovery, the continuous interference of the new crown pneumonia epidemic, the unabated pressure of imported inflation, and the regulation of domestic policies to maintain supply and stabilize prices, the majority of industrial customers and There is a strong demand for various hedging institutions to use futures options to manage spot price risks.
Data shows that the Shanghai Futures Exchange's trading volume in 2021 was 2.445 billion lots, with a turnover of 214.57 trillion yuan, an increase of 14.9% and 40.4% year-on-year respectively, accounting for 32.55% and 36.92% of the national market respectively.
Zhengzhou Commodity Exchange's annual trading volume was 2.581 billion hands, with a turnover of 107.99 trillion yuan, an increase of 51.75% and 79.73% year-on-year, respectively, accounting for 34.36% and 18.58% of the national market respectively.
In 2021, the Dalian Commodity Exchange had a trading volume of 2.364 billion lots and a turnover of 140.45 trillion yuan, an increase of 7.12% and 28.62% year-on-year, respectively, accounting for 31.47% and 24.17% of the national market, respectively.
The annual turnover of China Financial Futures Exchange was 122 million, with a turnover of 118.16 trillion yuan, an increase of 5.86% and 2.37% year-on-year, respectively, accounting for 1.62% and 20.33% of the national market, respectively.
Wang Jun, Dean of Founder's Mid-term Futures Research Institute, said in an interview with a reporter from Economic Daily that there are five specific reasons for my country's futures and options market to maintain growth in 2021:
First, judging from the current nine major sectors of the futures and options market, in terms of trading volume indicators, the four sectors of chemical industry, steel and building materials, soft commodities and non-ferrous metals have the largest increase, increasing by 52%, 47%, 43%, and 32% respectively.
Many varieties of these four main sectors have active transactions, all of which are conducive to the growth of the market's transaction scale;
Second, among the most active futures varieties in 2021, steel, PTA, methanol, soybean meal, fuel oil, rapeseed meal, silver, soybean palm oil, glass soda ash, CSI 300, CSI 500, nickel, copper, Natural rubber, crude oil and gold futures trading volume and trading volume accounted for the top 20, making the most significant contribution to the trading volume of my country's futures options market.
Third, the 2021 star futures varieties mainly include stainless steel, red dates, pulp, staple fiber, soda ash, ferrosilicon, polyvinyl chloride, hot rolled coil, aluminum, urea, lead, coking coal, tin, corn starch, low-sulfur fuel oil , Rebar, manganese silicon, PTA, No. 20 rubber and styrene futures, these varieties ranked the top 20 in annual turnover and turnover growth.
Fourth, the top 10 options in terms of trading volume listed on futures exchanges in 2021 include soybean meal, methanol, corn, PTA, natural rubber, iron ore, CSI 300, sugar, cotton, and copper options. Maintaining growth in transaction size has a positive effect.
The commodity options market is a new driving force for the growth of the entire market in 2021.
In 2021, the volume of my country's commodity options market accounted for 98% of the options market, the volume of commodity options market accounted for 79% of the options market, and my country's commodity options market accounted for 96% of the total market.
Fifth, in 2021, my country’s financial futures market will show a trend of steady and slight growth in trading scale. Shanghai 50 stock index futures and 2-year treasury bond futures will perform outstandingly in 2021, with a year-on-year increase of 22% and 33% in trading volume and turnover. 12% and 12%; the overall financial futures sector will increase significantly by 36.85% in 2021, indicating that financial institutions and investors are actively using hedging tools to manage stock and bond spot market risks.
It should be noted that the cumulative transaction volume and the year-on-year growth rate of transaction volume from January to December 2021 have been declining.
Wang Jun predicts that January-February 2022 coincides with the traditional New Year's Day and Spring Festival holidays, and there is a strong holiday atmosphere for market funds to lighten up or lighten their positions. In the first quarter of 2022, the national futures and options market transaction scale will remain at a low level, year-on-year and quarter-on-quarter. Both may continue to decline.
Affected by this, the trading scale of my country's futures and options market will be "low-key" in 2022.
Zhu Huichun