Chapter 1062: 1062

The second is to offer it.

Dinner is actually a simple working meal. Gao Xian ate it with Ma Shiheng, chairman of Xiangjiang futures exchange, and exchanged some information separately. It can be regarded as a preparation for the later meeting between Xiangjiang monetary authority and Xiangjiang futures exchange.

Today is the last trading day of Hang Seng Index Futures series products in October. Now the market has closed. This disk is the basis for tomorrow's final settlement day.

"The market rescue effect of the HKMA is very significant. When the afternoon index futures market was close, there were a lot of position transfer operations." Similar to Gao Xian, Ma Shiheng's voice is a little hoarse because he is busy. "However, the risk of default is still not easy to grasp."

Gao Xian did not blame Ma Shiheng for his poor work, because the reality is very complex, let alone Ma Shiheng. Sir Gao had to make some compromises in order to keep moving forward.

Today's Xiangjiang stock exchange is formed through the "merger of the four associations". This game process has lasted for more than ten years, and the difficulty of moving forward can be imagined.

It seems that the establishment of futures exchanges is full of competition for power and profit, but it seems that there is no competition for power and profit.

From the current structure of Xiangjiang futures exchange, we should be able to disclose one or two as simply as possible.

The structure of Xiangjiang futures exchange is roughly divided into three parts, namely, Xiangjiang futures exchange, Xiangjiang Futures Guarantee Company and Xiangjiang futures settlement company. Their functions can be guessed by just as the name suggests, and the influence of Gaoxian on them is weakened in turn.

To put it bluntly, the settlement of this link, high string really can not make a mountain.

One reason why a country as small as Switzerland seems a little special in the financial world is that the headquarters of the bank for International Settlements is in Switzerland. You know, the history of the bank for International Settlements is longer than that of the International Monetary Fund and the World Bank of the Bretton Woods system after the Second World War.

In Xiangjiang, the Jianghu of financial clearing and settlement is equally deep. For example, the old overlord has the special status of first come, first served, mutual checks and balances, etc. there is no official central settlement mechanism. Xiangjiang futures settlement company is a typical example, which is also an important research direction after Sir Gao established Xiangjiang financial authority.

The negative impact caused by the current situation of Xiangjiang futures clearing company can be described by an imprecise analogy.

In economies a and B, the total amount of chicken farts is close, but the currency of B can complete the cycle once a year in the economic system, while a large amount of currency of a precipitates in real estate and zombie enterprises, so that the cycle of currency in the economic system can not achieve the efficiency of completing it once a year. Who is more active in dealing with the crisis in the economy of a and B?

For Xiangjiang futures exchange, if there is an efficient central settlement mechanism - at least integrating the trading and settlement of futures and stocks into one system, it should take a lot of initiative in higher-level prediction at least.

Unfortunately, now, if it can only be if, we can only break through the current difficulties first, and then we can talk about others on the basis of these disadvantages.

"The futures exchange is a company, and it also has the origin of my founding. In front of the outside world, I can only say that starting from the overall situation, I will support the Futures Guarantee Company by one billion and charge interest, but in fact, I will try my best to preserve the futures exchange." Jazz Gao spoke slowly and encouraged Ma Shiheng.

"Ultimately, the futures exchange and the stock exchange should be merged together, which is the best trading structure of Xiangjiang securities industry. After you deal with the current difficulties, you can establish a wider range of prestige and assume more important positions."

When Sir Gao pointed out the way ahead, Ma Shiheng was naturally excited. "In fact, after tomorrow's final settlement day of index futures, it is not impossible to recover the losses for those who break the contract. The futures exchange can still negotiate and make some concessions like dealing with debts, so as to reduce the losses as much as possible. Pragmatism is the first."

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Gao Xian thought for a moment, then nodded, "after tomorrow, you can sort out a list of defaulters as soon as possible. I'll see if I can put pressure on it."

……

At 7:30 p.m., the meeting began. In addition to the relevant persons of Xiangjiang financial authority and Xiangjiang futures exchange, there were also participants invited by Sir Gao, President of Xiangjiang financial authority, such as Bank of China.

It's not difficult to understand the mystery of this. The status and prestige of the Jianghu can also be improved in the crisis. The human feelings are unspoken, which will be reflected with the progress of the meeting.

At this time, the work needs to be more efficient. Therefore, sir Gao went straight to the first topic.

The margin received by Xiangjiang futures exchange and the accumulated reserve fund are certainly not enough to deal with the risk of default on the final settlement day of Hang Seng Index Futures tomorrow. One of the rescue plans urgently issued by Xiangjiang monetary authority on Monday night of October 26 is that Xiangjiang foreign exchange fund supports Xiangjiang Futures Guarantee Company by 1 billion.

Then, sir Gao asked Ma Shiheng, the chairman of Xiangjiang futures exchange, to raise money.

All shareholders of Xiangjiang futures trading, including major brokers, cannot really stand idly by in the face of crisis. At this level, we should understand that gains and losses are not gains and losses of one city, one pool and one moment, and the general Jianghu rules must be observed.

At this point, it's a final confirmation. How about raising money in this way.

The representatives of various families are quite knowledgeable.

For example, in terms of shareholders of Xiangjiang futures exchange, Huifeng paid 100 million, Gaoyi 100 million, slag 100 million, London Clearing Company 100 million, chase bank 50 million and so on; The main brokers of Xiangjiang futures exchange collected 500 million yuan.

The total amount of money raised through this channel finally reached 1 billion, which is equal to the amount of support provided by the exchange fund.

Sir Gao was quite satisfied with this. He turned to the second agenda. "Judging from the results of the current rescue action, the 2 billion yuan in support of futures guarantee companies should be almost enough to help deal with the default risk tomorrow, but it is still necessary to take precautions."

"I suggest raising another 2 billion yuan as the reserve fund, and the exchange fund will contribute 1 billion yuan. I hope the local institutions in Xiangjiang can play a greater role!"

Ye Licheng answered without hesitation, "the high profit is 250 million."

The representative of the Bank of China immediately followed suit and offered 250 million yuan.

Seeing this, Huifeng and Standard Chartered can't understand that they have to follow. They have paid 250 million yuan each.

So, in a few words, the two billion yuan of the reserve fund as the reserve fund was finalized.

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