As soon as the Hang Seng index stock futures came out, they were very popular. The number of contracts traded on that day was nearly 5000, so that one said that the Xiangjiang stock exchange was worried that the Xiangjiang futures exchange would rob its own business by engaging in Hang Seng index stock futures. Even if the "inside volume" was annoying, it was not groundless.
There are traces of why the market is so enthusiastic.
First of all, for players in Xiangjiang capital market, Hang Seng index stock futures is almost the most direct and understandable product in financial derivatives.
Xiangjiang stock market has a long history. Compared with Gaoyi index, which occupies a high position among professional investors, Hang Seng Index, with its first mover advantage, has occupied the general audience position for the majority of investors. It has developed for more than 20 years. It can be said that it is deeply rooted in the hearts of the people and has a high level of understanding of its rules.
In this case, it is quite easy for players in Xiangjiang stock market to switch to hang seng index stock futures.
There are two types of Hang Seng index stock futures contracts - standard contracts and small contracts.
The value of each standard contract of Hang Seng index stock futures is equal to the number of points of Hang Seng Index rounded and multiplied by HK $50.
Specifically, the current hot market in Xiangjiang stock market has exceeded the Hang Seng Index, which was the highest point in 1981 when the last stock disaster occurred, and will probably rise to the level of 2000 points in the near future.
If the Hang Seng Index of 2000 points is used, the value of each standard contract of Hang Seng index stock futures is 2000 points multiplied by HK $50, which is equivalent to HK $100000.
When players buy such a standard contract, they don't have to pay HK $100000. They just need to pay a deposit at the minimum rate of 7% to 20%. Even if they buy it, they will wait for the last trading day and the last settlement day, and pay it in cash according to the settlement price.
Small contracts are similar to standard contracts, except that the value of some unit contracts is 20% of the standard contract, and the settlement time is not divided into months, next month and the last two quarters as in the standard contract, but only the current month.
Hang Seng index stock futures play so well, naturally, once launched, it will be sought after and become the most beautiful child in Xiangjiang financial derivatives market.
In addition, it is undeniable that the efforts made by Xiangjiang futures exchange to improve the design of Hang Seng index stock futures delayed the launch time of Hang Seng index stock futures, but also gave players enough time to understand Hang Seng index stock futures. Once Hang Seng index stock futures were launched, the suppressed enthusiasm of players burst out.
Xiangjiang futures exchange's improvement of Hang Seng index stock futures still needs to be slightly specific to describe the details, because it reflects Gao Xian's idea of "others step into the pit and cross the pit by themselves".
In the "old script", after Xiangjiang entered the transition period, many people, including the ghost guy, had subtle psychological changes, especially the ghost guy who also mastered the ruling power of Xiangjiang, and would not have any sincerity for the long-term development of Xiangjiang.
Take the Hang Seng index stock futures as an example. As long as the Hong Kong government still controlled by the ghost can receive taxes and British capital can make money, it is OK. As for the loopholes in the Hang Seng index stock futures and even the larger financial market, they will not bother to become the "back door" of international speculative capital in the "Black Monday" global stock disaster and the Asian financial crisis, It's a big deal. If we patch it at that time, we can win the reputation of giving the market freedom.
If you only kill your opponent's high string, you can't tolerate leaving a gap in your position. Even if it seems to be a gap, it's just a cover for luring the enemy in-depth.
Therefore, Xiangjiang futures exchange has done a lot of work and played games for the improvement of Hang Seng index stock futures.
To give a few simple examples, the playing method of Hang Seng index stock futures requires that the player must be a Xiangjiang registered company, the capital must be paid in capital, and the position is based on capital, as well as new players, players who have opened an account for less than one month, players who have opened an account for less than six months, and players who have opened an account for more than six months but whose trading volume is lower than the specified, There is a corresponding position limit. Even old players have a position limit of 10000 tentatively.
Coupled with the market fluctuation regulation mechanism implemented in cooperation with Xiangjiang stock exchange, even if Xiangjiang futures exchange encounters the "Black Monday" global stock disaster in the "old script", it will not nearly collapse, and even lay a solid foundation for dealing with the multi-dimensional and three-dimensional attack of international speculative capital like the Asian financial crisis.
Of course, Xiangjiang futures exchange will try its best to improve the Hang Seng index stock futures, which will certainly annoy many forces who want to fish in troubled waters in the "wild" stage, but Xiangjiang futures exchange is the only statutory futures exchange in Xiangjiang. There is nothing wrong with improving their products! If you are not satisfied, please leave!
You know, at this stage, the attraction of Xiangjiang capital market to global investors has such a foundation. Take the most intuitive Xiangjiang stock market. At present, the total market value of Xiangjiang stock market is about 300 billion. According to Gao Yi's research and judgment, Xiangjiang stock market will be strong in the second half of the year. It should not be a problem that the total market value of Xiangjiang stock market exceeds 400 billion.
Although it seems that the price earnings ratio of Xiangjiang stock market has risen rapidly, it is still less than 18 times, which is not only lower than 66 times before the 1973 stock disaster and 23 times after the 1981 stock disaster, but also lower than the price earnings ratio of other heavyweight stock markets in the world.
Compared with the same period, the P / E ratio of Tokyo stock market is between 40 and 50 times, that of New York stock market is more than 50 times, and that of London stock market is lower, but it is also more than 30 times.
Such an obvious depression, Xiangjiang is a well deserved treasure in the eyes of global capital. There is no doubt that global financial institutions are also the main force in Xiangjiang stock market, accounting for about half of the share. Among them, funds from Britain account for about 25% and funds from the United States account for about 15%.
In fact, the work of Xiangjiang futures exchange to improve the stock futures of Hang Seng index is still full of skills. For example, the position limit of senior players is a bit like "decoration", and there is no possibility of reaching the top for the time being; Another example is the introduction of a small contract relative to the standard contract, which gives small players the opportunity to enter the market and get dividends in the special development period.
Therefore, the current impact on players obsessed with Hang Seng index stock futures is negligible.
For example, on Gaoyi's side, ye Licheng had to come forward personally to dispel the resentment that an important customer asked for financing but couldn't.
Huang Zixiang, the eldest son of the Huang family of xingjiapo, who founded Xinhe group in Xiangjiang, was indeed full of complaints. He newly registered a company in Xiangjiang, which was specially used to invest in Hang Seng index stock futures. It was easy to play and became more and more addicted, so he planned to increase the principal.
However, Xinhe group also took land in Xiangjiang real estate market fiercely. The chief financial officer said that it was going to take land again soon. Xinhe group was going to raise funds. Young master, you not only didn't help find a way, but also thought about misappropriating funds and doing private work for yourself. When it was transmitted to the owner Huang Tingfang, you couldn't help losing points.
Huang Zixiang, who was shocked, began to find ways to raise money and walk around Gaoyi.
Originally, Huang Zixiang thought this was a natural thing. After all, the two sides had a good business foundation and good personal relations. Moreover, he also heard a rumor that Qiu deba's family, also from xingjiapo, recently obtained a large amount of loans from Gao's Bank Group.
As a result, Huang Zixiang was disappointed. Gao Yi clearly refused. The young young master of the Huang family was immediately dissatisfied. Why is our Huang family worse than the Qiu family?
Ye Licheng personally received Huang Zixiang and patiently explained that Gaoyi had no intention of belittling the Huang family. Let alone 500 million, there was no problem with a billion. It was just a coincidence. At present, Gaoyi met several major customers who concentrated on asking for huge financial support for a certain acquisition. For the sake of risk control, other large-scale loans should be postponed for at least two months, otherwise, Huang Shao, wait a minute?
In front of Ye Licheng, Huang Zixiang didn't dare to make a mistake. He couldn't help scratching his head. He had to wait for at least two months. It was too long. He missed the market of Hang Seng index stock futures and may delay the bidding of Xinhe group.
Seeing the annoyed look on Huang Zixiang's face, ye Licheng made an idea at the right time. I saw the documents prepared by Huang Shao and Xinhe group for the loan. I didn't have any problem with the qualification. Unfortunately, there was a special situation in Gaoyi. Otherwise, you should go to another bank. I believe that even Gao Yi recognizes the qualifications represented in these documents, and even Hui Feng can't find fault.
When Huang Zixiang heard this, Ye Sheng said, "I'm sure I'll succeed in Huifeng loan."?
Ye Licheng smiled and came up with another idea. If Huang Shao is not sure, he can show his dissatisfaction with Gaoyi again in Huifeng. There should be no problem.
Huang Zixiang asked mysteriously. Is there any secret in it?
Ye Licheng took a heart to heart attitude. Huang Shao, I gave you such an idea because of our deep friendship. Now the competition between Huifeng bank and Gao's Bank Group in Xiangjiang banking business is becoming more and more obvious. Gao Yi has turned away such high-quality customers as Huang Shao. What will Huifeng react to Huang Shao's visit to Huifeng?
Huang Zixiang, who suddenly realized it, stood up excitedly and thanked Ye Sheng for his advice. Don't worry, the Huang family won't really be dissatisfied with Gao Yi.
Ye Licheng personally sent Huang Zixiang to the door of the office. Huang Shao, do a full set of drama, and I won't send you more.
"Understand, understand." Huang Zixiang deliberately stretched his face and walked to the elevator with big steps.
After Huang Zixiang disappeared from his vision, ye Licheng lost his smile and murmured. The boss was so accurate that he pushed Huang Dashao to Huifeng for the time being. It was really a wonderful move.
Over there, Huang Zixiang, who felt good about himself, went directly to the very elegant headquarters building of xinhuifeng bank and gave a performance according to Ye Licheng's instructions.
Not to mention, the performance effect was surprisingly good. Even Huifeng Daban Pu Weishi was shocked, and the ideal result was soon released.
800 million?
no problem!
But in the future, your Huang family in Xiangjiang can only be customers of Huifeng bank and can no longer have dealings with Gao's Bank Group.
Huang Zixiang also said that there was no problem, as long as Huifeng managed enough loans.
Pu Weishi was very satisfied that Huifeng robbed a big customer and Gao's Bank Group lost a big customer.
Something happened later, which made Pu Weishi very vigilant, but also determined that he should rob the customers of Gao's Bank Group like this.
Unknowingly, Huifeng entered an invisible radical expansion.