| From the end of 20 century to the beginning of 21 century, with the rapid development of bulk commodity market, there has been bulk commodity aggregate auction exchange in the basis of wholesale market, e-commerce, and time-bargain. It will combine the wholesale market rules, e-commerce technology, futures trading mechanism, integrate commodity trading, bank settlement, quality inspection, warehousing, transportation, and information service, etc. As a result, a kind of new trading model would be formed, formative, intensive, high credit, high efficiency and low cost, furthermore the influence to bulk commodity trading is gradually increasing.Firstly, this Thesis analyzes the relation and difference between the commodity aggregate auction exchange and wholesale market, e-commerce and future market, expressing the developing trend of commodity aggregate auction exchange. Next, the author describes three trading models, namely format trading, offer trading and repurchase trading, which adopted by NCCE( Nanning (China-Asian) Commodity Exchange), they comparatively unattached but associate each other. As it has been the basic operational mechanism in NCCE, the listed trading, membership, security deposit system, central trading, universal clearing and scattered delivery network could be the security system of NCCE. At the end of the thesis, taking the sugar for example, the author analyzes the operational mechanism and risk-control mechanism. The author hope that the research will stimulate the development of the congeneric market and raise the management level in NCCE. |
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