Research On The Development Of The OTC Commodity Derivatives Central Counterparty Clearing In China

Currently, China has entered the critical moment of establishing commodity multilevel market system, mainly including spot market, OTC derivatives market and future market, three related markets with different functional positions and operating mechanism. OTC derivatives market is built on spot products and also serves spot products, which can meet participants’ different risk management needs through diversified and personalized product innovation, and it is also the significant foundation of pushing product standardization into future market and positively promoting future market’s development. However, commodity derivatives market pays more attention to future market in China, and OTC derivatives market with more space to develop is still in the starting period. Under this situation, China should learn from CCP of international OTC commodity derivatives market’s development experience, and promote our OTC commodity derivatives market develop and grow up. It is extremely meaningful to improve the construction of China OTC commodity multilevel market system.This paper focuses on analyzing the arising CCP clearing centered China OTC commodity derivatives market, based on the deep research over international OTC commodity derivatives CCP clearing business. Then, the writer gives suggestions and plan for the market’s further development.