The China Financial Futures Exchange (CFFEX), officially known as China Financial Futures Exchange Co. Ltd., is an incorporated exchange specializing in providing trading and clearing services for financial futures, options, and other derivatives. It was established in Shanghai on September 8, 2006, with the approval of the State Council of the People’s Republic of China and the China Securities Regulatory Commission (CSRC). The founding members of CFFEX include the Shanghai Futures Exchange, Zhengzhou Commodity Exchange, Dalian Commodity Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange.

CFFEX is committed to upholding high standards and ensuring market stability. It continuously expands its financial derivatives product offering, particularly in equity, interest rate, and foreign exchange product lines, to cater to the diverse risk management needs of market participants. All trading activities on CFFEX are conducted electronically, supported by a robust and secure IT infrastructure. Leveraging the best practices and design concepts from domestic and international exchanges, CFFEX has developed a well-structured trading and operating platform with comprehensive functionality and stable operations. Despite increased economic uncertainty and instability, the financial futures market on CFFEX has remained generally safe and stable, without significant abnormal fluctuations. In 2018, the trading volume of stock index futures reached 16.344 million board lots and RMB 15.7 trillion, with daily averages of 67,000 and 119,000 board lots respectively for futures traded and held. These figures represented a 67.0% increase in trading volume and a 16.4% increase in daily averages compared to 2017. The trading volume of treasury bond futures in the same period was 10.87 million board lots and RMB 10.4 trillion, with daily averages of 45,000 and 79,000 board lots respectively for futures traded and held. These figures reflected a decline of 26% and 25% respectively in daily averages compared to 2017.

Main business:

CFFEX performs a range of essential functions, including organizing and facilitating the listing, trading, settlement, and delivery of financial futures and other financial derivatives. It is responsible for formulating business management rules, conducting self-regulation, and ensuring compliance with regulatory guidelines set by the CSRC. Additionally, CFFEX plays a pivotal role in publishing trading information, providing technology infrastructure, venues, and facilities services to support efficient trading operations. Within the boundaries of its regulatory authorization, CFFEX may also undertake other functions as permitted by the CSRC.