w88 casino News Network (provided by the w88 casino of Finance)On March 10, 2023, the "Corn and Fructose Rights-Contained Pricing Practice Case" completed by the w88 casino, COFCO Futures and COFCO Qi Defeng teams won the second place in the preliminary round and the third prize in the final in the first college student derivatives practice competition of "Young".
Student team final defense scene
The event is guided by the Futures Supervision Department of the China Securities Regulatory Commission and the Investor Protection Bureau, and is co-sponsored by the Dalian Commodity Exchange and the China Futures Association. Contest takenThe "1+1+1" multi-party cooperation model involves a futures company coordinating a university team and connecting with an industrial enterprise or risk management subsidiary to jointly guide students to use derivatives to customize risk management plans for the enterprise and complete the entire process of design, implementation and effect evaluation of the plan. The competition will be launched in April 2022, with a preliminary round on June 12 and a final on March 10, 2023 at the Dalian Commodity Exchange. Xinhua News Agency, China Youth Daily, Futures Daily and other media followed up and reported on this event.
w88 casino’s joint competition team is composed of teachers from the w88 casino of Finance Deng Jun, Feng Jianfen, and Wang Tianyi. Chen Tian (doctoral student), Yi Renjie (master student), Zhang Mengting (master student), and Wang Rundong (undergraduate), Li Jiming (undergraduate), and Guo Kefan (undergraduate) formed a student team; Li Nan, executive vice president of COFCO Futures Research Institute, and researchers Xu Qiancheng and Zhang Dalong led the futures company team; Feng Hao, general manager of COFCO Qidefeng,Wang Weihan, head of the innovative business department, leads the risk management subsidiary team.
Team at the finals
Under the guidance of teachers and industry experts, the participating students used options, futures and other financial derivatives, combined with the spot supply orders formulated by COFCO Qi Defeng for fructose companies, and designed a risk management plan for spot orders to meet COFCO Qi Defeng's performance guarantee and hedging needs.
During the design and implementation process of the plan, the team received strong support from experts from COFCO Futures and COFCO Kidefeng. Affected by the epidemic, the team was unable to visit fructose companies outside Beijing, and it was also difficult to visit risk management subsidiaries for research. However, through countless hours-long online meetings and discussions and several rare offline surveys, the team has a full understanding of the production and operation of fructose companies, the composition of the corn industry chain, COFCO Cardiff's business philosophy, the background of the use of over-the-counter derivatives, futures delivery processes and costs, the role of warehouse receipt swaps and other industry practices. Through discussions with COFCO Coca-Cola, the team has learned about the needs of fructose downstream companies, order signing habits and the historical background of the development of the fructose industry in my country. Finally, after several all-nighters to revise the plan and correct the data, the team handed over a scientific, objective and rigorous risk management plan: UtilizeThe "cumulative purchase option + basis timing" allows COFCO Qidefeng to reasonably hedge the risk of spot orders, ensure order performance, and at the same time meet the profit-locking needs of fructose companies.
Student team went to COFCO Qidefeng for research
Team of teachers and students went to COFCO Coca-Cola Company for research
In this competition, participating students deeply realized the important role of financial engineering in real enterprises, and further understood the business logic, models and processes of financial services for the real economy. Captain Chen Tian’s speech represents the voice of the participating students:“In the competition, we combined the knowledge we learned in the classroom with reality to solve the real problems of the enterprise, which allowed us to expand our horizons and strengthen our ambition to apply what we learned to serve the real economy.”
Captain Chen Tian spoke on behalf of all participating students
The w88 casino and COFCO Futures jointly participated in this competition, which is another deepening of the strategic cooperation between the two parties. It is a vivid practice for the w88 casino to promote w88 casino-enterprise collaborative education and explore the transformation of financial talent training to serve the real economy.
