China's Dalian Commodity Exchange (DCE) on Tuesday rolled out guidelines to carry out conversion of PVC spot and futures warehouse receipts with the Ningbo Commodity Exchange, a spot commodity exchange, on a trail basis, in a bid to further promote integration between the futures market and spot market and serve the real economy.
The first pilot delivery warehouse is Zhejiang International Trade (Group) Logistics Company which will offer conversion services of PVC spot and futures warehouse receipts. Delivery warehouses jointly designated by the two bourses can apply for pilot delivery warehouses and the bourses will disclose results separately.
Earlier, on August 20, 2015, the two bourses and the Zhejiang International Trade (Group) Logistics Company signed a three-party agreement on conversion of PVC spot and futures warehouse receipts to launch conversion of PVC warehouse receipts between the two bourses.
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