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Commerce Department: Unapproved any market in crude oil trading

Date:2015-10-22 10:13:42  Hits:464  Belong to:Focus

     Ministry of Commerce spokesman Shen Danyang at a regular press conference on the 20th, he said as of now, the Ministry of Commerce has not yet ratified any market in crude oil, refined oil trading. In the market for crude oil transactions in accordance with the "Foreign Trade Law" and "oil market management approach", "oil market management approach" and other regulations, any person engaged in crude oil, refined oil import and export, wholesale, warehousing, retail businesses, must have laws and regulations prescribed qualifications, obtain license to operate the relevant government departments.
     He said the behavior of underground crude oil speculation media reports, in essence, on behalf of the name of spot trading futures electronically. In addition to the law approved by the State Council in futures and futures regulatory agency finds a place, no units are not allowed to centralized auction, electronic matching, anonymous trading, market makers and other centralized trading standardized contracts.

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