CHINA'S Dalian Commodity Exchange (DCE), which currently settles an average of 300,000 refined, bleached and deodorised (RBD) palm oil contracts a day, plans to lower transaction fees by 25 per cent to woo more trades.
"We're looking at reducing settlement fees from RMB4 to RMB3 per contract to make it more attractive for traders. That's a 25 per cent discount," said DCE senior manager Wang Yun Tao.
"We'll be conducting hedging seminars to some 1,000 enterprises that buy RBD palm oil for their factory use.
"Through this we hope to attract more traders and more volume at our exchange," he told Business Times when met at the Palm Oil Outlook Conference 2010 in Kuala Lumpur.
"Through this we hope to attract more traders and more volume at our exchange," he told Business Times when met at the Palm Oil Outlook Conference 2010 in Kuala Lumpur.
Daily settlement of RBD palm oil contracts at DCE improved tremendously since its launch in October 2007.
"When we first started, we were seeing some 15,000 palm oil contracts a day. Nowadays, it averages at around 300,000. We hope to see heavier daily trades at 400,000 contracts by next year" he added.
"When we first started, we were seeing some 15,000 palm oil contracts a day. Nowadays, it averages at around 300,000. We hope to see heavier daily trades at 400,000 contracts by next year" he added.
Earlier, CME Group and Bursa Malaysia announced the launch date of the jointly-developed US dollar-denominated cash-settled CPO futures contract to be traded in Chicago and Kuala Lumpur simultaneously. Asked if DCE may want to seek a similar tie-up, Wang said, "We're always open for discussion, we don't rule out that possibility. For now, there is no such specific plans. "
He said any development of new products for the exchange takes time as it involves a host of stakeholders' interests and regulatory approvals.
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