CBOT hosts symposium for Chinese futures professionals

The Chicago Board of Trade (CBOT) is hosting a two-week symposium, being attended by members of the Dalian Commodity Exchange (DCE), the China Securities Regulatory Commission (CSRC) and government officials.

The DCE is the largest futures exchange in China. Established in 1993, it trades soya bean and soya bean meal futures.

The symposium is focusing on concepts, procedures and regulations involved in the operation of futures markets, as well as the dynamics of the financial options and futures markets, the CBOT said.

The event is the result of a memorandum of understanding signed between the CBOT and the DCE in November 2003, where the two exchanges agreed to work towards developing markets for new derivatives products. It is running from May 16-26, and includes sessions with traders and regulators, and demonstrations of CBOT’s electronic trading platform.

Lu Dongsheng, deputy division director of the CSRC’s department of futures supervision, said: “It represents a chance for the futures industry of China to communicate directly and profoundly with the US, which will have a positive meaning for further co-operation among all parties involved.”