In order to thoroughly implement the new development concept, take the initiative to serve Shanghai's 14th five-year Plan and the decision-making and deployment of Pudong to build a leading area for socialist modernization, Interbank Market Clearing House Co., Ltd. (hereinafter referred to as Shanghai Clearing House) commodities spot clearing business (hereinafter referred to as Commodity Clearing) and Shanghai Nonferrous net Metals Trading Center Co., Ltd. (hereinafter referred to as Nonferrous net Trading Center) docked on August 9, 2021, to provide professional capital clearing and settlement services for spot transactions in the non-ferrous metals industry to protect the high-quality development of the non-ferrous metals industry.
On the first day of docking, the commodity spot clearing platform of Shanghai Clearing House undertook 34 spot transactions of non-ferrous metals from 14 corporate customers, including electrolytic copper and zinc ingots, with a cumulative settlement amount of 197 million yuan. Five spot clearing members, including Industrial and Commercial Bank of China, Construction Bank, Bank of Communications, Pudong Development Bank and Huaxia Bank, as well as 107 physical enterprise customers are involved in the business, which are mainly from the Yangtze River Delta region. some of them come from South China, North China and Southwest China.
Commodity clearing is an important practice for Shanghai Clearing House to give full play to the function of financial infrastructure, make use of the advantages and accumulated experience of risk control and clearing in the inter-bank market, and accurately support the high-quality development of the real economy. Through this business, the Shanghai clearinghouse has formed a joint force with the compliance commodity spot service platform and commercial banks, providing physical enterprises with a safe, convenient, real-time Synchronize, standardized and efficient spot delivery and payment environment, to solve the difficulties and pain points faced by physical enterprises, such as low settlement efficiency, difficult inter-bank settlement, imperfect financial supporting services in the supply chain, and so on. Since its launch in March 2021, Commodity Clearing has formed a practical example in the chemical industry, with steady growth in business volume, which has been widely praised and highly recognized by the market. As of today, the cumulative settlement amount is nearly 73 billion yuan (unilateral). The monthly settlement amount has exceeded 10 billion yuan for three consecutive months. The docking of the Commodity Clearing pass and the Nonferrous Network Trading Center is a powerful measure for the Shanghai Clearing House to respond to the urgent needs of the market and continue to expand the breadth of commodity clearing services. The Shanghai Clearing House will use this as a starting point to promote the optimization and upgrading of the key traditional industry of non-ferrous metals, and serve Shanghai to become the central node of the domestic cycle and the strategic link of the domestic and international double cycle.
In the next step, the Shanghai clearinghouse will continue to solidly perform its responsibilities of financial market infrastructure, steadily expand the scope of commodity clearing and docking spot platforms, continuously optimize business functions, improve service convenience, explore new models of supply chain finance, timely study physical deliverable medium-and long-term products, and serve the national green development strategy to explore carbon quota-related services, so as to improve the quality and efficiency of commodity clearing. Enhance the financial service capacity of small and medium-sized enterprises, strive to improve the industrial ecosystem, and help to enhance the modernization level of the industrial chain supply chain.
