CME Group's Russell Beatty: Dalian Commodity Exchange's Opening of Soybean Product Suite to Overseas Traders Is of Milestone Significance

Russell Beattie, Managing Director and Head of Asia Pacific at CME Group, stated at the 19th International Oils and Oilseeds Conference and Agricultural and Livestock Industry Conference that since CME Group and DCE first signed a memorandum of understanding in 2003, the two sides have established a lasting partnership. He noted that the two markets are complementary, jointly providing market participants with a complete picture of global and local prices for soybeans and their crushed products. On the basis of deep, liquid, and trustworthy markets on both sides, managing crush margins through CBOT soybean futures and DCE soybean meal and soybean oil futures has become a widely used hedging strategy in the industry. Russell Beattie said that CME Group is pleased to see DCE open its soybean product suite to overseas traders. This move means more participants, stronger liquidity, and higher price integrity for DCE's entire soybean product market, benefiting all traders and strengthening the link between domestic and global prices, and is of landmark significance. China is the world's largest importer of oilseeds and the world's second-largest economy, and is opening up, deepening, and connecting with the world at an astonishing pace. Against this backdrop, CME Group values the Chinese market and hopes to continue strengthening cooperation with DCE, sharing expertise in market structure, and exploring ways to work together to serve market participants.