The listing of ethylene glycol options and styrene options serves the high-quality development of the chemical industry
2023/5/26
Based on the morning market operation, both the ethylene glycol and styrene options performed steadily, in line with expectations. Ethylene glycol and styrene are important chemical intermediates, with ethylene glycol being used in various industries such as petroleum, coal, rubber, plastics, and fibers, and styrene being closely related to household appliances, automobiles, papermaking, and clothing in people's daily lives. China is the world's largest consumer and importer of ethylene glycol and the largest consumer and supplier of styrene. Since the listing of ethylene glycol and styrene futures on the Dalian Commodity Exchange in 2018 and 2019, these two futures contracts have developed over the years, with their functions fully utilized and their market influence continuously expanding.
Hu Gangxu, Director of the Derivatives Department of the Dalian Commodity Exchange, stated that the listing of ethylene glycol and styrene options can complement the corresponding futures contracts, optimize the trading patterns of the spot market, promote the application of options and futures in spot trading, and meet the risk management needs of the fine chemical industry, thereby facilitating high-quality development in the chemical industry.
Currently, the Dalian Commodity Exchange has listed 21 futures contracts and a total of 13 options contracts. Over 60% of the market participants have incorporated options as part of their strategies, accelerating the interactive effect between the futures and options markets and enabling industrial clients to actively manage uncertainties using options. In 2022, the trading volume and average daily open interest of options on the Dalian Commodity Exchange reached 180 million contracts and 1.73 million contracts, respectively, representing a year-on-year increase of 75% and 31%.
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