Dalian Commodity Exchange in China Names Wang Fenghai as New CEO

The Dalian Commodity Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (DCE), one of China’s leading futures exchanges regulated by the China Securities Regulatory Commission (CSRC), today announces the appointment of Wang Fenghai as the exchange's new CEO, and named Xu Qiang as Executive Vice President.

Mr. Fenghai - who previously served as vice general manager at DCE - was appointed by the party committee of the CSRC to his new role and replaces Feng Bo, according to an official statement today.

Volumes in 2015

Last year, DCE’s trading volumes and turnover reached over 1.11 billion contracts with a notional value of RMB 41.94 trillion (over $7.5 trillion at today's rates), making it one of the top ten exchanges by volume in 2015 as per FIA data. China also has four of the top ten largest banks in the world according to recent rankings by S&P Global Market Intelligence.

Finance Magnates has prepared extensive industry-related research on China in our upcoming Quarterly Industry Report (QIR) for the second quarter (Q2) of 2016, which will be available shortly after the close of this quarter at the end of June.

DCE is one of four futures exchanges regulated by the CSRC, and has nearly 250 members and is located in northeast Cina where it offers 16 listed futures products on its venue.

The exchange has 15 licensed distributors that provide market data, including real-time, level two and historical prices, from local Chinese firms and international companies including Bloomberg, Thomson Reuters, CQG, Interactive Data, and other market-news and related market data companies.

The exchange is an associate member of the US-based Futures Industry Association (FIA) and has signed numerous Memorandums of Understanding (MoU’s) with international exchanges since its founding in 1993.