1、How CCSE does operate?
The transaction methods of CCSE are divided into two kinds, spot transaction
and electronic contract transaction.
Spot transaction adopts the following form: Companies rent business
offices in CCSE and set up legal organizations, which are to be enrolled
and registered in Jiaxing Industrial and Commercial Administrative Bureau
and enjoy the treatment of common taxpayers. Transactions are concluded
by negotiation.
Electronic contract transaction carries out membership system. Members
may act as agents of other companies. The said transaction adopts BtoB
mode and executes margin system. Deliverable commodities should be inspected
by notarization. Rules and regulations are issued to ensure trading
in the principle of publicity, fairness, equity and credibility.
CCSE establish several functional departments to ensure normal operation.
Spot Transaction Managing Dept. is responsible for attracting silk traders
to participate in CCSE market, assisting companies herein to operate
all kinds of procedures, managing spot traders herein, keeping the trades
in order and building a pleasing and convenient trading surrounding.
TEL: 0086-573-2111401
Managing Departments of Electronic Contract Transaction is in charge
of managing contract transaction and marketing, trading, clearing, delivery
and arbitration, ensuring publicity, fairness, equity and credibility.
Trading Dept. is responsible for over all management of trading function,
maintenance of electronic trading network system, release of information
and construction of esilk.net.
TEL: 0086-573-2111405,2110128
Delivery Dept. is responsible for monthly delivery, mediation and arbitration
of the matters concerned.
TEL: 0086-573-2111410
China Cocoon& Silk Exchange Clearing Co., Ltd. is responsible for
risk management, clearing& settlement of fund and commodities and
providing loans of cocoons and silk.
TEL: 0086-573-2111409
Zhongsi Modern Logistics Co., Ltd. is responsible for managing commodities
for delivery and stocks in pledge.
TEL: 0086-573-2117672
2、What products are traded on CCSE market?
Spot transaction majors in cocoon and silk goods. Permitted commodities
include cocoon, raw silk, silk fabric, spun silk and silk clothes. Other
weaving materials, dyestuff, clothing subsidiaries, weaving mechanical
equipment, spares and fittings also include.
Electronic contract transaction now lists three products including dried
cocoon, raw silk of grade 3A and high-grade raw silk.
3、How many members does CCSE have?
China Cocoon& Silk Exchange has more than 150 member firms. There
are two categories of membership. One is brokerage membership that a
member is entrusted by his client to instruct his exchange representative
to trade in his own name on the electronic contract trading system.
The other is proprietary membership that includes the enterprises that
only trade on their own accounts. Only the trading orders through or
by the members can be accepted by CCSE for matching.
4、What risk management measures are in place for the electronic contract
trading system on CCSE?
China Cocoon& Silk Exchange maintains a sound and established risk
management system, in which there is margin system, price limit system,
position limit system, etc. You can find the details in CCSE rules and
regulations.
5、What delivery mechanism does CCSE electronic contract trading system
adopt?
China Cocoon& Silk Exchange adopts the physical delivery mechanism.
The goods must be stored in registered warehouses designated by CCSE
before they are recognized valid for delivery.
6、How to make or take delivery in CCSE?
7、Could a foreigner participate in CCSE electronic contract transaction?
At present, foreigners could not participate in our electronic contract
transaction directly because of the exchange control in China.
A foreigner could establish a company to be an agent of India silk companies
to buy raw silk yarn and other products in China and participate in
our electronic contract transaction of CCSE, then maybe you will be
more flexible in the electronic trading market.
