Reduce costs and increase efficiency, and continue to optimize options business at Dashang

Da Shang Shi will officially open soon“optionThe testing of business functions such as option hedging and speculative hedging swaps in the "Six Phase" business is conducted since9The second phase of testing for the "Option Phase VI" business, which was launched in mid month after the simulation system was launched. It is understood that the market is looking forward to the third stage, namelyfuturesThe opening and official launch of the option portfolio margin business.
   
this year9month14On the day, Dashang's simulation trading system launched the "Option Six Period" system. This system can support real-time limit positions for hedging and actual control relationship accounts, speculative hedging attribute conversion, futures and options portfolio margin, option hedging attribute trading, hedging and closing positions through trading interfaces, and other new functions. Due to the large number of functions in the new system, the development and implementation of all business on the member end require a considerable amount of time. The exchange will launch relevant business functions in three stages in the simulation system.

The risk control manager of a futures company told reporters that after the launch of the "Option Six Period" system in the simulation environment, the company actively participated in the first phase of testing and experienced functions such as real-time limit of hedging and actual control relationship accounts, and option exercise hedging. After the opening of the hedging related business functions in the second stage, industrial customers can use the hedging attribute when participating in option trading, and can also convert their existing speculative positions into hedging positions after obtaining the approved hedging amount, which will make it more convenient for industrial customers to participate
   
Our clients are more looking forward to the third stage of business testing, which is the combination of margin related functions. "The person in charge stated that according to the content of the previous exchange market training, after the opening of the three stage business functions, it will support strategies such as option cross, wide cross, and reserve. Hedging attribute positions that were not previously within the scope of the combined margin discount of the big trading house will also be included in the combination discount range, And it will also support investors to combine their existing positions during the trading session, allowing them to enjoy a combination margin discount during the trading session. This will further improve the efficiency of market fund utilization. Especially for option traders, if the system is officially launched, transaction costs will be significantly reduced, "he said.
   
The relevant person in charge of Dashang stated that in the early stages of the listing of soybean meal options, all businesses were managed according to a stable start and strict requirements, which effectively ensured the smooth operation of the soybean meal options market. With the development of the soybean meal option market, in order to meet market demand, the exchange continuously optimizes various systems. In terms of warehouse restrictions, we have successively2017year9month15Japan and this year5month10Twice daily increase of soybean meal period permission warehouse to10000Hand. The exchange is also continuously promoting suggestions from investors regarding the support of hedging attributes and margin discounts for futures option portfolios,2017Completed the modification of relevant business rules and began system development work in, and this year3Completed system acceptance testing in the month.
   
The above person in charge stated that the exchange end system is currently ready. However, due to the large number of functions involved this time, it will take a long time for the developer to complete the development of member side functions. Next, Dashang will continue to promote the implementation of the option portfolio margin business function on the member end as soon as possible and the official launch of the system, continuously promoting market efficiency improvement and continuously improving the service capacity of the futures market.