International PTA Futures Into New Momentum

After the official launch of PTA futures internationalization, the trading scale and operation quality have reached a new level, with the average daily trading volume stable at about 2 million, further improving the ability and level of serving the real economy. At present, with the successful implementation of introducing foreign traders, the expansion of trading groups brings new momentum and opportunities to PTA futures.


PTA futures operation quality improved

"After the internationalization of PTA futures, the intuitive feeling is that market liquidity has been significantly improved. The personage inside course of study expresses to the reporter.


From the perspective of trading volume, the average daily transaction volume of PTA futures from January to June in 2018 is 757,000, from July to August is 2.573 million, from September to October is 1.571 million, and from December to now is 2.339 million.


In the view of many insiders, the introduction of foreign traders has played a positive role in improving the liquidity of PTA futures.


"After the launch of PTA futures internationalization, the market operation quality is further improved. On the one hand, the significant increase of trading volume means the increase of market liquidity; On the other hand, the market participation is more extensive and the price authority formed is stronger. This is conducive to industrial institutions using futures tools to carry out hedging operations, and facilitate professional investment institutions for asset allocation. Huatai futures analyst yu yongjun told futures daily.


Conducive to further promote continuous active contract

The activity of the near month contract can help PTA industry chain enterprises more sensitive and timely respond to the sudden supply and demand contradiction, as well as the reasonable pricing of PTA futures near and forward contracts, reduce the deviation of the previous single far month main contract pricing, and contribute to the stable and continuous operation of the market price.


"From the perspective of promoting continuous active PTA futures contracts, the internationalization of PTA futures introduces experienced foreign professional investors, and designs more diversified and targeted otc derivatives based on PTA futures, rather than a simple price game. At the same time, the internationalization of PTA futures drives other investors to participate in more monthly contracts and make better use of PTA futures to lock in risks. Industry insiders said.


The respondents generally believe that international development will bring fresh blood to the PTA futures market and further promote the activity of PTA futures. In the next step, PTA futures are expected to gradually change from the continuous active contracts in odd months to the overall and continuous active contracts in various months, which is conducive to the consolidation of market pricing power and the function of futures service in the real economy.


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