Future chat group

Finance is a relatively special industry, and China's financial industry is different from the financial industry in other countries. Therefore, when working in China, you have to recognize the dual identity of the country's rule-maker and game participant.

However, the country's capital is not driven by profit-seeking as its highest goal. The management needs a financial industry that can push forward economic development. If they consider this direction, they can cater to the appetite of their superiors.

The last time the stock index futures were opened, there was something fishy in it. The stock index futures were actually opened under the premise that the index was skyrocketing or due to leveraged funds. If there wasn't something weird in this, no one would believe it.

Later, when the stock market crash occurred and stock index futures collapsed, regulators took action and the China Financial Futures Exchange issued the most stringent restrictions in history. Each account could only open 10 positions a day, which simply put stock index futures into a quagmire.

Currently, stock index futures have fewer restrictions on hedging, but the restrictions on other accounts are too strict, resulting in a hedging contract of hundreds of lots. If it is a market price transaction, the index may fall or rise by the limit.

Hanlong and others obviously knew the inside story. Thinking of the final outcome of that battle and the high-level officials who were liquidated, Song Dongyuan and others couldn't help but tremble in their hearts.

"However, it is because the old supervisors have been liquidated that the young and strong faction represented by President Wang will have the opportunity to come to power. Coupled with the country's development, the new leadership has the courage and capital to push the country to strive for Asia-Pacific leadership. This is also an opportunity." Song Dongyuan and others were thinking in their hearts.

Finance is something based on the real economy. Only when China becomes stronger will China's financial power have the opportunity to expand, and only then will policies such as the Asian Infrastructure Investment Bank and the National Bank have the opportunity to be realized.

To use a saying often said in the financial circle, it is "the aircraft carrier is the target, the missile is the target, the economy is the direction, and the currency is the currency." If China were not strong, Chinese financiers like Lei Hao would definitely be treated like pigs and sheep. exist.

So...is it time to let go of stock index futures? Song Dongyuan and others felt a little uncertain.

If the Thunder does not rise, everyone will be more optimistic about liberalizing stock index futures, because it is nothing more than a big distribution of funds by the old forces.

Now that the Thunder Group has gathered a large amount of capital at an extremely fast speed, it represents a new interest group and the greater benefits that this group may obtain. And Lei Hao, a Chinese financial tiger, is eyeing it. Will the Taihe Group agree?

"There are some differences of opinion within CICC. Mr. Lei should know that for those above, stability is the overriding prerequisite." Song Dongyuan said on behalf of several Hanlong executive directors.

"The current index is 3800. The victory over short sellers in the RMB foreign exchange market is another step in promoting financial marketization. If the stock index futures are successfully liberalized, it will be a great political achievement." Lei Hao explained a few words.

Everyone knows the truth. People like Song Dongyuan are even betting on both sides. The new financial regulatory forces also hope to open up stock index futures. If this is done, people like Wang Huachen can completely replace the old group and completely control the situation. .

But if it fails, the impact will be quite large. People in the officialdom don't care much about the financial losses. If there is a possibility of losing power, it will be doomed.

Therefore, when Song Dongyuan said "what kind of policy is most beneficial to us," Hanlong had already made a conclusion internally.

Relaxing certain restrictions should be the answer given by the regulatory authorities. For example, it used to be 10 lots, but now it can be 50 or 100. When it reaches more than 100, the possibility is not so great.

“Since the full launch of stock index futures was a mistake, regulators will not make the same mistake again.”

"Gradually relaxing restrictions is a more reasonable inference."

"Only by diving can you trap the dragon. With Mr. Lei around, will our potential opponents allow the stock index futures to be completely liberalized?"

Everyone explained with a smile and complimented Lei Hao a few words.

Listening to these words, Lei Hao was noncommittal, but he had his own plans in his heart. He didn't speak, and the scene became silent.

"There is a possibility of completely liberalizing stock index futures." Lei Hao gave up the option of a final jump. This is not the first time that he has influenced the direction of real development. "Under the premise that the capital outflow channels are blocked, Under the premise that there are not enough profits in other capital markets, the stock market this year is not surprisingly good, and everyone has no objection to this."

In the living room, everyone present nodded.

Don't look at the stock market crash some time ago, but it was after an increase of more than a thousand points. Compared with the current index, the stock market has also increased by more than 20%, which is already considered a bull market.

Therefore, the argument that the stock market is improving has been confirmed by the market.

"The short-term money shortage some time ago, in the final analysis, was that funds were transferred too much. Where did the money go? The financial market!" Lei Hao continued: "Funds have entered the stock market and pushed back industrial development. In fact, there are already signs. "

"Sometimes stock index futures will help rise and fall, but sometimes they are also a tool to stabilize the healthy development of the stock market. With the current situation, it is impossible for regulators to not see it." Lei Hao finally said: "If they want to let go Why not completely relax the 100-lot limit? There is not much difference between 100 lots and complete liberalization.”

Funds are profit-seeking, and the stock market is also a strange thing. If funds find that it is profitable, they will pour in. When the influx of funds exceeds a certain limit, you will suddenly find... if you add more funds, The cake can be made bigger.

This is the process of spreading rumors in the stock market. Risks are accumulated here along with benefits. In the end, there will be a "boom" explosion, and people will die one by one.

What if there are stock index futures? Then, driven by interests, the funds that were originally long will see the profit prospects of shorting in the stock index futures market, and the long and short positions will be diverted, and then they will be hedged in stock index futures to offset the unhealthy upward trend of the stock market.

This is a reflection of the health of the financial market, this is what financial regulators need to see, and this is the reason why China is tirelessly pursuing financial marketization.

Stock index futures will definitely be unlocked. Whether it is done step by step or in one step depends on the actual development. Now we have this opportunity. If we do it well, we can eliminate the possible unhealthy market outlook for the stock market and divert the risks existing in the stock market to stock index futures. market.

Everyone understands the meaning of Lei Hao's words, but the financial market is full of variables, and returns are directly proportional to risks. Since there are many benefits to doing this, the risks must also be very high.

Song Dongyuan looked at the remaining people in the living room who were trustworthy and had qualified identities. He couldn't help but exchange a look, and Song Dongyuan stood up to explain their views to Lei Hao.

"It is very difficult to completely liberalize stock index futures."