Continued abuse in the market brought forth the Second Rectification in 1998, most of the surviving 15 futures exchanges were restructured, and subsequently closed. Three national level future exchanges emerged: Shanghai Metal Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange. The number of futures contracts was cut back further to 12 from 35, and more brokers were closed, leaving just 175 standing from the early 1990s peak of 1,000. Margins were standardized and regulations further toughened. Trading on foreign futures exchanges was further restricted to a small number of large, global entities. Soybeans, soy meal and beer barley were traded at DCE.