永安期货总经理马志伟：稳定现货市场供需预期 助力全国统一大市场建设

Core Viewpoint - The central economic work conference emphasizes the importance of advancing the construction of a unified national market, with a focus on formulating regulations and addressing "involution" competition, highlighting the role of the futures market in supporting this initiative [2][3]. Group 1: Role of Futures Market - The futures market can facilitate the construction of a centralized, efficient, and comprehensive pricing system at the national level, which helps reduce storage and logistics costs for enterprises and enhances the circulation efficiency of bulk commodities [3]. - The core functions of the futures market, including price discovery, risk management, and resource allocation, are essential for helping the economy face challenges by providing authoritative price signals, enabling cost and profit locking for enterprises, and guiding efficient resource allocation [2][3]. Group 2: Financial Services for Enterprises - The futures industry aims to provide comprehensive financial services throughout the lifecycle of enterprises, focusing on personalized and professional services based on the development stage and trading preferences of different enterprises [4]. - Specific strategies include promoting basis trading for startups, integrating futures with production and sales for growing enterprises, and offering mature risk management systems for established companies [4]. Group 3: Technological Empowerment - The industry recognizes the value of technological innovation in enhancing traditional business models, aiming to create a new service ecosystem that fosters a virtuous cycle among technology, industry, and finance [4]. - Continuous investment in technology, including AI and knowledge graphs, is essential for building a more precise, intelligent, and efficient service system for the futures market [4]. Group 4: Addressing Involution in the Industry - The futures industry faces challenges such as a single business model and intensified competition, with many firms relying heavily on brokerage services and facing pressure from low-price competition [5]. - Recommendations to address these issues include improving regulatory frameworks to curb harmful low-price competition and encouraging leading firms to explore innovative business models, such as futures financing and overseas brokerage [5].