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China's top securities regulator, the China Securities Regulatory Commission has endorsed the Dalian Commodity Exchange to carry out iron ore futures trading.Ms Mercy Liu senior manager of CME Group said that "Iron ore futures on Dalian Commodity Exchange has significant meanings to iron ore derivatives and fills the gap in physical deliveries. Contract on DCE and our contract are complementary and increases the changes to arbitrage across markets. We are keen to promote iron ore derivatives.'She said that CME cleared 1.2 million tones of iron ore per month, of which 15% are from electric trading; most participants are spot players from China and Europe and banks and investment institutions.