随着我国多层次商品市场体系持续完善，场外衍生品市场发展加速推进，其服务实体经济的核心价值正 获得产业界普遍认可。海南国际清算所作为现货市场和场外衍生品市场的中后台清算机构，从零开始， 精心筹备，推出场外掉期清算业务，为大宗商品衍生品生态圈的健康发展提供了重要载体。 在此背景下，海南国际清算所应运而生，作为现货市场和场外市场的中后台清算机构，从零开始，精心 筹备，推出了场外掉期清算业务，有效地填补了现有期货市场与现货市场之间的空隙，成为多层次商品 市场体系的重要补充。相信随着海南国际清算所的大宗商品场外清算业务功能不断完善、可清算品种不 断丰富，服务场外市场的能力也将逐步增强，助力我国大宗商品场外市场的规模迈上新的台阶。 记者：2022年10月，海南国际清算所成立，2023年10月正式上线大宗商品掉期清算业务，如何评价你们 这几年做出的成绩？ 海南国际清算所：海南国际清算所是从2022年10月开始正式运作的，到现在已满3年。总结下来，公司 发展方向是"先定战略，再定打法，未雨绸缪，防患未然"。 在发展方向的指引下，海南国际清算所依托市场机制，组建专业团队；确定发展战略和规划，获得监管 部门的支持；逐步确定掉期清 ...

Core Insights - The forum on commodity risk management and market innovation highlighted the need for refined cost control and precise risk hedging for commodity enterprises amid global economic adjustments and market volatility [1][3] - The development of the over-the-counter (OTC) market has gained recognition for its value in serving the real economy, providing tailored risk management solutions for enterprises [2][3] - The rapid expansion of the Hainan International Clearing House's OTC swap clearing business demonstrates significant growth in the number of products and clearing scale, indicating a robust market response [3][4] Group 1: Market Dynamics - The global commodity market is facing pressures from geopolitical conflicts, energy transitions, and supply chain resilience, necessitating innovative risk management strategies [1][3] - The Hainan International Clearing House has established a comprehensive risk control system and developed proprietary clearing and information management systems to support the OTC market [2][3] - The forum addressed the integration of risk management, market innovation, and compliance technology as key themes for industry advancement [3][4] Group 2: Practical Applications - The forum provided insights into macroeconomic challenges, such as changes in interest rates and cross-border capital flows, affecting domestic monetary policy [4] - The discussion included the importance of asset management for enterprises, showcasing product design strategies that enhance returns through derivatives [4][5] - The transition towards a dual-carbon target is reshaping commodity allocation logic, emphasizing the need for practical guidelines in energy structure transformation [5][6] Group 3: Future Directions - The Hainan International Clearing House aims to deepen its swap clearing business and expand its clearing product offerings to meet diverse market needs [7] - The establishment of cross-border settlement services is planned in conjunction with the upcoming closure of the Hainan Free Trade Port, facilitating international trade [7] - Ongoing research into the clearing needs of the spot market will lead to new models that enhance transaction security and market efficiency [7]

Group 1: Forum Overview - The forum on "Risk Management and Market Innovation in the Context of Commodities" was held in Beijing, focusing on the integration of risk management and market innovation [1] - The event was organized by Hainan International Clearing House and attracted representatives from commodity producers, trading companies, and futures firms [1][2] Group 2: Market Dynamics - Since 2025, the global economy has entered a deep adjustment period, with the commodity market facing pressures from geopolitical conflicts, energy transitions, and supply chain resilience [1] - Companies in the commodity sector are focusing on refined cost control and precise risk hedging as essential survival strategies [1] Group 3: Hainan International Clearing House Developments - Hainan International Clearing House has rapidly developed a comprehensive risk management system and has launched an independent clearing system for over-the-counter derivatives [2][3] - Since the launch of its swap clearing business in October 2023, the clearing house has expanded its product offerings to 45 types, covering various commodities [3] - The clearing scale has surpassed 200,000 tons, with a contract value exceeding 4 billion yuan, and a peak customer margin balance of 140 million yuan [3] Group 4: Key Insights from the Forum - The forum provided insights into macroeconomic challenges, including changes in domestic and international interest rates and their impact on monetary policy [4] - It emphasized the importance of understanding the differences between over-the-counter derivatives and other financial instruments for businesses [4] - The forum discussed asset management strategies, highlighting the potential for fixed income products combined with options to enhance returns [4] Group 5: Energy Transition and Supply Chain Efficiency - The transition towards dual carbon goals is reshaping the energy structure and commodity allocation logic [5] - The forum highlighted the importance of integrating futures and spot markets to reduce costs and enhance efficiency for manufacturing enterprises [6] Group 6: Logistics and Supply Chain Innovations - The opening of the Li Jiazai No. 6 coal distribution station marks a significant step in optimizing coal logistics in Henan province [8][9] - The station aims to enhance the efficiency of coal supply chains by integrating production, transportation, and storage [9][10] - The facility is designed to handle over 500,000 tons of coal annually and features advanced coal blending technology for customized supply solutions [10][11] Group 7: Future Directions - The collaboration between Zhongping Supply Chain and Zheng Coal Group aims to create a new brand for coal blending in Henan, focusing on quality control and stable supply [12] - The initiative seeks to establish a green logistics model, promoting sustainable practices in coal transportation and storage [12]