Research On The Supervision Of Bulk Commodity Electronic Trading Market In China

Since China's bulk commodity electronic trading market was established in 1997,with the continuous development of China's economy,the number of markets and the scale of transactions have shown a rapid growth trend.Along with the rapid development of the industry,illegal events happen frequently.How to guide and regulate the bulk commodity electronic trading market has become the focus of supervision.Since 2011,the state has stepped up its supervision of the bulk commodity electronic trading market mainly by promulgating regulative documents and setting up inter-ministerial conferences to carry out a nationwide clean-up and rectification campaign,which was helpful to remove the chaos in the industry.However,the normative market order was not formed.Some illegal operation of the market resurfaced after rectification,revealing that there are still many problems in the supervision.This article introduces the connotation,development course and function of China's bulk commodity electronic transaction market,combs the status quo of the markers' development and supervision,sums up the existing problems in supervision,and then comes up the suggestions of perfecting the regulation of China's bulk commodity electronic transaction market.The text is divided into four chapters:The first chapter is an overview of China's bulk commodity electronic trading markets.First of all,this chapter gives the definition of China's bulk commodity electronic trading markets,which transacts bulk commodity through electronic trade.Secondly,it reviews the development of China's bulk commodity electronic trading markets.Finally,it points out the function of China's bulk commodity electronic trading markets,including improving the commodity market,cultivating the trading varieties,price discovery and hedging function.The second chapter introduces the development of China's bulk commodity electronic trading markets and regulatory status.First of all,this chapter expounds the status quo of the development and regulation of China's bulk commodity electronic trading markets by introducing the market size,current development trends,industry and geographical distribution and transaction mode.Secondly,it reviews the legislation of the commodity electronic trading market in our country and the main regulatory rules.Finally,it analyzes the status quo of the existing regulatory system of the central government and the local government.The third chapter summarizes the problems existing in the supervision of commodity electronic trading market in China.First,points out the commodity electronic trading market in China,it is necessary to reform the regulation legislation mainly includes legislative level is not high,the existing rules cannot meet the demand of regulation,investors lack of legislation three aspects.Secondly,the regulatory system is unreasonable,the regulation mechanism has not been established,and the central level of accountability is not clear.Once again,there is a lack of supervision and enforcement,and the normal regulatory enforcement mechanism has not been established.Local governments have not implemented enough supervision policies,and local governments have not been able to regulate them.Finally,China's commodity electronic trading market lacks industry self-discipline,and the industry association has not yet played its role in the regulation of self-discipline in the industry.The fourth chapter puts forward the suggestions of perfecting the regulation of China's bulk commodity electronic trading markets.Firstly,we should improve the legislation on the bulk commodity electronic trading markets by raising the level of legislation,formulating systematic laws and regulations,amending the existing regulatory rules to meet the new regulatory needs,and establishing an appropriate system of investors from the legislation.Secondly,we should establish a long-term regulatory mechanism with clear division of responsibilities and redistribute the supervision responsibilities of local governments.Thirdly,the industry access system shall be established and improved,the conditions for the establishment of the trading markets shall be improved,the certificates for dealers and agents shall be established.Fourth,we should enhance the level of regulatory enforcement,establish a real-time reporting system for transaction data,establish a unified regional settlement system and put software suppliers under supervision.Finally,it is necessary to give full play to the self-regulatory role of trade associations,enhance the status and influence of trade associations,and improve the self-construction of trade associations.