The only reserved cable exchange in Jiangsu Province

The only reserved cable exchange in Jiangsu Province The reporter was informed by the Jiangsu Provincial People's Government that the “General Office of the Provincial Government on Checking and Checking the Acceptance of Various Types of Trading Sites in our Province” was informed that Far East Trading Baosteel Network Technology Co., Ltd. – China Cable Material Exchange is the only one in Jiangsu Province Reserved cable materials trading venues.

It is understood that in recent years, some regions have successively approved the establishment of various types of trading venues, such as medium and long-term trading of bulk commodities, to promote the development of rights and interests (such as equity, property rights, etc.) and commodity markets. However, due to the lack of standardized management, the illegal and irregular issues in the establishment and trading activities in trading venues have become increasingly prominent and the risks have been exposed, which has aroused widespread concern in the society. Based on this current situation, on November 11, 2011, the State Council issued the "Decision of the State Council on Clearing up and Refining Various Types of Trading Sites and Effectively Preventing Financial Risks" in order to prevent financial risks, standardize market order, and maintain social stability.

The clean-up and rectification of various types of trading venues in the Jiangsu region began in April 2012. In recent years, despite the rapid development of trading venues in Jiangsu Province and the rich and varied transaction content and forms, the issues involving violations of laws and regulations have become increasingly prominent. The specific performances are as follows: 1. Excessive establishment of trading venues, with certain blindness Sex; 2, transaction content and transaction forms are confusing, and some introduce the form of securities and futures trading; 3, regulatory responsibilities and system boundaries are unclear, individual trading site shareholders directly involved in trading or price manipulation and other violations.

Far East S & P Network Technology Co., Ltd., a self-inspection report submitted by the China Cable Material Exchange to the Jiangsu Provincial People's Government, shows that the company's transaction management methods, settlement management system, customer management system, and risk control systems are all sound. The company implements these systems seriously. The company adopts centralized bidding, electronic matching, anonymous trading, and centralized trading of corporate independent orders for transactions. The time interval for a company to buy or sell a traded product after selling or selling is about 3 trading days, and only about 14.9%, and 85.1% is the actual settlement. The trading products set by the company based on the characteristics of the cable industry are also the first in the world and meet the actual needs of copper processing companies and cable manufacturers. The company strives to build the cable material exchange into a centralized procurement platform for raw and auxiliary materials in the cable industry and better serve the entire cable industry.

Far East Trading Po Network Technology Co., Ltd. was established on March 31, 2011 and is part of Far East Holding Group Co., Ltd. On September 5, 2011, Far East’s first new model of one network and two platforms (one network refers to cable network, two platforms refers to cable trading Bao and China Cable Material Exchange) formally launched. At present, the cable network (http://) has an average daily flow rate of nearly 1 million and has become a portal site in the global wire and cable industry. The trading volume of the e-commerce trading platform for cable trading treasures reached RMB 709 million in 2012, and the development exceeded expectations. China Cable Material Exchange had a turnover of 14.77 billion yuan in 2012, with a yield of more than 85%. Such a high rate of delivery was far ahead of other trading venues of the same type.

Jiangsu Province’s “Notice of the General Office of the Provincial Government on Checking and Checking the Acceptance of Various Types of Trading Sites in our Province” announced that there are 48 various types of trading venues to be retained in Jiangsu Province. According to relevant statistics, the number of unreserved trading venues exceeds 70.

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