The Development history of Futures Trading

One of the earliest futures market is found in the Edo Shogunate of Japan. As rice prices began to have a significant impact on economic and military activities ,  Chamber of Commerce for rice decide to stock and control the sale of rice based on the production of rice and the market expectations of rice.
In the 1970s, Chicago CME and CBOT two exchanges have a number of futures product innovation, vigorously develop a number of financial futures varieties, so that financial futures become the mainstream of the futures market. In the 1980s, the Chicago Stock Exchange began to develop an electronic trading platform. Into the late 1990s, the exchange of mergers and acquisitions trend.

In ancient China, there already exists a commodity credit and forward contract system for the grain market. By the time of the Republic of China, Shanghai was in a state of trading craze and grew to have a number of futures exchanges. The Manchuria Government  also set up futures exchanges, mainly engaged in soybean, soybean cake, soybean oil futures trade in northeast Dalian, Yingkou, Fengtian and other 15 cities. After the founding of the People’s Republic of China in 1949, the Futures Exchanges in mainland China disappeared for decades, to 1992, the establishment of futures exchanges in Zhengzhou, launched another wave of trading frenzy, the provinces and cities flourishing, most once opened at the same time more than 50 futures Exchange, the total number of futures exchanges over the rest of the world. China’s State Council in 1994 and 1998, the two tighten regulation, suspended a number of futures varieties, ordered a number of exchanges to stop business.

Since 1998, China’s legitimate commodity futures exchange only the Shanghai Futures Exchange, Dalian Futures Exchange, Zhengzhou Futures Exchange three, the former operating energy and metal commodity futures, the latter two to operate agricultural futures. To September 8, 2006, China Financial Futures Exchange was set up in Shanghai, the first launch of the CSI 300 stock index futures.

 

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