"完善衍生品布局 服务高质量发展"报道（上） 编者按：今年以来，在期货行业各方的努力和推动下，期货市场在品种工具供给上取得积极突破：系列 期权落地、首个再生金属期货品种上市、化工和浆纸产业链衍生品体系进一步完善、月均价期货获准注 册、新的新能源金属期货有望推出、人民币外汇期货提上日程……截至目前，我国已上市157个期货和 期权品种，广泛覆盖农产品、金属、能源、化工、建材、造纸、航运、金融等国民经济主要领域。今日 起，本报推出"完善衍生品布局 服务高质量发展"报道，敬请关注。 年初召开的中国证监会2025年系统工作会议提出，完善农业强国、制造强国、绿色转型等重点领域期货 品种布局，提升产业客户参与度。 今年前三季度，我国期货市场在丰富和完善品种体系方面取得显著进展。铸造铝合金期货和期权、纯苯 期货和期权、丙烯期货和期权、胶版印刷纸期货和期权，以及燃料油、石油沥青和纸浆期权等先后挂牌 上市。铂、钯期货和期权，焦煤期权，以及线型低密度聚乙烯、聚氯乙烯、聚丙烯月均价期货等上市也 提上日程。 接受期货日报记者采访的业内人士普遍认为，未来，随着更多新品种上市，我国期货市场在服务实体经 济、服务国家战略等方面将发挥更大作用 ...

编者按：今年以来，在期货行业各方的努力和推动下，期货市场在品种工具供给上取得积极突破：系列 期权落地、首个再生金属期货品种上市、化工和浆纸产业链衍生品体系进一步完善、月均价期货获准注 册、新的新能源金属期货有望推出、人民币外汇期货提上日程……截至目前，我国已上市157个期货和 期权品种，广泛覆盖农产品、金属、能源、化工、建材、造纸、航运、金融等国民经济主要领域。今日 起，本报推出"完善衍生品布局服务高质量发展"报道，敬请关注。 年初召开的中国证监会2025年系统工作会议提出，完善农业强国、制造强国、绿色转型等重点领域期货 品种布局，提升产业客户参与度。 今年前三季度，我国期货市场在丰富和完善品种体系方面取得显著进展。铸造铝合金期货和期权、纯苯 期货和期权、丙烯期货和期权、胶版印刷纸期货和期权，以及燃料油、石油沥青和纸浆期权等先后挂牌 上市。铂、钯期货和期权，焦煤期权，以及线型低密度聚乙烯、聚氯乙烯、聚丙烯月均价期货等上市也 提上日程。 接受期货日报记者采访的业内人士普遍认为，未来，随着更多新品种上市，我国期货市场在服务实体经 济、服务国家战略等方面将发挥更大作用。 "上新"加速服务精细化风险管理 商品期货和期 ...

党建引领筑根基，把准作风建设政治方向 协会党支部严格执行"第一议题"制度，将中央八项规定精神与习近平总书记关于金融工作、作风建设的 重要论述作为党员大会的必修课，通过原原本本学、联系实际悟，引导支部党员深刻认识"四风"问题的 顽固性和反复性，筑牢抵制歪风邪气的思想防线。5月，协会党支部及秘书处成员集体参加"八项规定改 变中国"专题党课，系统学习作风建设对防范金融风险、服务实体经济的深远意义，推动全体成员将纪 律要求内化为行为自觉。6月，协会党支部换届选举期间，新一届支委会集体学习了《习近平关于加强 党的作风建设论述摘编》，明确将作风建设成效作为衡量工作质效的重要标准，提出"以换届促作风转 变、以作风转变促履职提升"的工作思路，为行业作风建设树立标杆。 联学联建聚合力，服务行业促发展 延续"党建+作风建设"模式，协会通过支部共建推动中央八项规定精神在行业层面走深走实。其中，在 与中航期货党支部联合开展主题党日活动时，围绕中央八项规定、国家安全教育等主题开展学习，并 就"作风建设与合规经营"开展深度研讨；在与中金岭南期货党总支的共建活动中，学习《党政机关厉行 节约反对浪费条例》及严重违反中央八项规定精神问题警示案 ...

Group 1 - The China Securities Regulatory Commission (CSRC) has approved the registration of futures and options for casting aluminum alloy on the Shanghai Futures Exchange, aiming for a smooth launch and robust operation [1] - Casting aluminum alloy, primarily produced from recycled aluminum, is a key product for the low-carbon transition in the global aluminum industry and is widely used in various sectors including automotive, machinery, and electronics [1] - China is the largest producer and consumer of casting aluminum alloy globally, with an estimated production capacity of 13 million tons and a production volume of 6.2 million tons in 2024 [1] Group 2 - The listing of casting aluminum alloy futures and options is expected to provide effective risk management tools and transparent price signals for industry participants, promoting the standardized development of the market [1] - Companies like Guangdong Hongjin New Materials Group express a strong interest in utilizing the new futures for hedging against price volatility, as the current lack of recycled aluminum futures limits their options [2] - The introduction of these futures is anticipated to enhance the pricing mechanism in the current spot market, which lacks a unified and effective pricing system, thereby improving price transparency and fairness [2]

Report Summary 1. Industry Investment Rating - No information about the industry investment rating is provided in the report. 2. Core Viewpoints - The Shanghai Futures Exchange is actively promoting the listing of green - low - carbon and recycled metal futures and options such as cast aluminum alloy to serve the risk management and circular development needs of the aluminum industry [2]. - In the first four months of this year, the national actual use of foreign capital decreased by 10.9% year - on - year, while Japan, Switzerland, the UK, ASEAN, South Korea, and Germany had year - on - year growth in actual investment in China [2]. - The EU is considering removing 20 banks from the SWIFT system, lowering the price cap of Russian oil to about $45 per barrel, and banning the construction of the Nord Stream gas pipeline [2]. - Malaysia's palm oil production from May 1 - 20, 2025, is estimated to increase by 3.51%, with different trends in different regions [3]. 3. Summary by Relevant Content Hot News - The Shanghai Futures Exchange will strengthen the coordination between futures and spot markets and promote the listing of new futures and options [2]. - The national actual use of foreign capital in the first four months of this year was 320.78 billion yuan, a 10.9% year - on - year decrease, with some countries showing growth [2]. - The EU is planning new sanctions against Russia in the financial and energy sectors [2]. - The inventory of imported iron ore in Chinese ports decreased, and the daily port clearance volume increased [2]. - Malaysia's palm oil production in May 1 - 20 had an overall increase [3]. Plate Performance - Key commodities to focus on include urea, lithium carbonate, Shanghai copper, crude oil, and hot - rolled coils [4]. - Night - session performance: Non - metallic building materials rose 2.76%, precious metals 30.83%, oilseeds 11.75%, soft commodities 2.46%, non - ferrous metals 18.77%, coal - coking - steel - ore 13.34%, energy 2.67%, chemicals 13.05%, grains 1.63%, and agricultural and sideline products 2.73% [4]. Plate Position - The report shows the position changes of commodity futures plates in the past five days [5]. Performance of Major Asset Classes - Equity: The Shanghai Composite Index fell 0.94%, the S&P 500 fell 0.67%, and the Hang Seng Index rose 0.24% [6]. - Fixed - income: 10 - year Treasury bond futures rose 0.04%, 5 - year Treasury bond futures rose 0.07%, and 2 - year Treasury bond futures rose 0.04% [6]. - Commodities: The CRB commodity index rose 0.13%, WTI crude oil rose 1.27%, and London spot gold rose 1.91% [6]. - Others: The US dollar index fell 0.82%, and the CBOE volatility index rose 9.91% [6].

Group 1 - The China Securities Regulatory Commission (CSRC) has approved the registration of aluminum alloy futures and options on the Shanghai Futures Exchange [1] - The CSRC will supervise the Shanghai Futures Exchange to ensure the smooth launch and stable operation of aluminum alloy futures and options [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has approved the registration of aluminum alloy futures and options on the Shanghai Futures Exchange, indicating a significant development in the commodities market [1] Group 1 - The CSRC will supervise the Shanghai Futures Exchange to ensure the smooth launch and stable operation of aluminum alloy futures and options [1]

Core Insights - The Shanghai Futures Market has experienced significant growth, with its scale increasing 2.7 times from 2017 to 2024, reaching 425 trillion yuan, and is becoming a global pricing reference for trade [1][2] - The development of the futures market is aligned with China's modernization goals and aims to enhance risk management for enterprises while promoting high-quality development [2][3] Group 1: Market Growth and Development - The Shanghai Futures Market has attracted global industry players and financial institutions, contributing to the construction of a financial hub [2] - The market has listed 47 futures and options products, covering key sectors such as metals, energy, and finance, enhancing its role in risk management for various industries [2][4] - The trading volume of Shanghai's financial market exceeded 365 trillion yuan in 2024, with the futures market being a crucial component [4] Group 2: Regulatory and Strategic Initiatives - The China Securities Regulatory Commission emphasizes the importance of the futures market in supporting the real economy and enhancing financial stability [3] - Ongoing development of the Sci-Tech 50 index futures and options is aimed at better serving high-level technological enterprises [2][3] Group 3: Market Functionality and Impact - Financial futures are playing a stabilizing role in the market, with stock index futures helping to increase the value of hedged stocks by 14% from November 2023 to April 2024 [5][6] - The introduction of new products and adjustments in trading mechanisms have improved market quality, with daily trading volumes for financial futures and options increasing significantly [7] - Institutional participation in financial futures has grown, with a notable increase in the average daily positions held by institutions, enhancing overall market performance [7] Group 4: Future Prospects and Innovations - The Shanghai Futures Exchange plans to launch futures and options for aluminum alloy, further expanding the global influence of "Shanghai prices" [8] - The exchange is actively increasing the number of products available to qualified foreign investors, enhancing international collaboration [8]