Research On The Legal Risk Of Commodity Spot Trading Place

In recent years,China’s spot commodity trading market has developed rapidly.According to incomplete statistics from the commodity trading market circulation branch of China federation of logistics and purchasing,by the end of 2017,the total volume of China’s commodity electronic trading market was 1969,with a year-on-year growth of 60.0%.The trading varieties covered more than 20 industries,and the scale of physical transactions exceeded 30 trillion yuan.However,due to the long-term regulatory vacuum,this market has experienced numerous risk events during the brutal growth process,which poses a more serious threat to financial security and social stability.To improve the situation,a state council-led cleanup of trading venues kicked off in 2011.After several rounds of cleaning and rectification,the illegal and irregular phenomena in the market have been effectively curbed to a certain extent,but the long-term supervision mechanism has not been established.Therefore,as the carrier of spot trading,the spot trading place bears the legal risks brought by incomplete legal regulations and incomplete market development.In order to reduce the impact of this risk,protect the legitimate rights and interests of investors,and guide the healthy and orderly development of the spot trading market,the spot trading place,as a spot trading hub,should develop in compliance.Meanwhile,it is the only way for the government to improve the market supervision and government supervision of the spot trading place of bulk commodities.Through the first part,this paper briefly introduces three cases involved in the spot trading venues of bulk commodities in China and summarizes the focus of the dispute,namely,the main body status of the spot trading venues is unknown,the boundary between trading mode and futures trading is unknown,and whether the involved trading is effective or not.The second part focuses on the matter,to tease out the spot trading of commodities in the connotation,characteristics,trading patterns and contain many legal risks,including due to confusing the legal risks of trading places the main body status,trading places running types of the legal risks of futures trading mode and the effectiveness of the audit specification of illegal futures uncertain which could lead to the alleged illegal futures trading is considered invalid legal risk,because the spot trading places the irregularities of the spot trading places may bear the legal responsibility,mainly involved in trading venues civil lawsuit against responsibility,In the administrative management,they may be ordered to shut down,rectification and fine by administrative organs,and may be suspected of fraud and illegal operation in criminal liability.Finally in the third part from the point of view of commodity spot trading venues and government supervision to improve the commodity spot trading market regulatory system and promote the development of commodity spot trading venues put forward corresponding Suggestions.