Future chat group

If Lei Hao makes a move, there will naturally be a lot of money to follow the trend, but everyone has learned well and has been tricked by Lei Hao so many times in the past. Now that Lei Hao is not entering the game, others don't even want to grab chips.

On Monday, August 28, when Thunder only sold more than a thousand lots of October stock index futures contracts in one day, Chinese financial institutions such as Qingyu and Hanlon just took some scraps and had no intention of competing with Thunder. HSBC Not to mention institutions such as , Keda, etc., they do not operate in the Chinese market at all.

How much is one thousand lots? Calculated based on the CSI 300 Index of 4,300 points, the face value of each contract is 1.29 million, and the minimum margin is 15%. The funds held by one thousand lots are less than 200 million.

It’s only 200 million. Who knows if the Thunder is going to cheat its teammates again? If Lei Hao doesn’t hold tens of thousands of positions, institutions like Hanlon and Qingyu will feel guilty.

HSBC and Keda have a clearer attitude. When Lei Hao was interested in shorting the Nikkei 225, they focused more on the Japanese stock market. China did not follow suit for the time being because he knew more about certain funds. The flow cannot be hidden from these veteran players in the international market.

The current value of Nikkei 225 is 19137, which is also right in the middle of the 50-day moving average. The situation is very subtle.

The Nikkei 225 Index futures are more complex, and large institutions generally build positions through systematic accumulation. For example, the two markets in Singapore and Japan are priced in Japanese yen, and the United States is priced in US dollars, and there is a price difference between the Singapore and Japanese markets.

In addition, these markets have 6 consecutive near-month and 20 near-quarter monthly contracts, and the cost of extending Thunder's funds into the Japanese stock market is too high. There are many things to consider when shorting Nikkei 225 Index futures.

The stock market trend and exchange rate fluctuations are two important points.

Lei Hao is more troubled. His cost of short selling in Singapore is lower than the cost of entering the Osaka market in Japan. However, the current Nikkei 225 index futures in Singapore are at a discount to the spot price, which means he has taken the order from short sellers. It is feasible to go to the spot market for arbitrage later.

Looking at it from another angle, Lei Hao wants to go short. A positive basis will make him face more opponents. The reason is very simple. He has no funds to hedge with him and only operates in the futures market without entering the spot market. As a result, he It can only give others room for arbitrage.

The solution is simple. If there is a corresponding opponent, or enter the stock market and sell short directly, there are also costs for funds to enter Japan. If you are a normal person, you will definitely need to find the right time.

However, the Thunder steadily absorbed... 1,000 contracts in Singapore.

Each point is 500 yen or 5 US dollars, and the minimum change unit is 5 points. Calculated according to 19137, which is 19135 or 19140. Each contract is worth more than 95,000 US dollars. Negotiate the margin with the futures brokerage company. The minimum requirement of the exchange is 5 %, which is less than US$4,800.

One thousand lots is actually an awkward position. Let’s call it small, it’s really a lot. Even if 50 or 25 lots are large orders, the position limit is only 10,000 lots. If you want to exceed 10,000 lots, you have to open an account. One thousand lots cannot be considered too small. , to put it bluntly, it is really not much, especially for a large institution like Thunder, the regular position is almost a thousand lots.

In the same way, China's stock index futures also have position limits, but China uses position ratio limits. The new regulations do not allow positions to exceed 10% of the total market positions. In other words, if the total market positions are 100,000, your institution's positions will exceed 100,000. 10,000, the regulatory authorities can directly force the liquidation of positions.

However, for financial institutions, this is the reason why they are not listed. My capital flow is secretive. Even if you open a case for investigation, you may not be able to find out all my accounts, let alone not open a case for investigation.

Zhang San is from the Thunder, Li Si is from the Thunder, Wang Wu can also be from the Thunder. Everyone is doing this, and it is difficult for the supervisory authorities to completely find out, because banks are not vegetarians. They would rather pay a fine than give it to you. Opportunity to audit accounts.

Third-party custody of funds is the product of the game between the financial circle and regulators. Currently, this system relies on the strong credibility and background of the banking industry to mediate bilateral relations.

On the 28th, the Asia-Pacific stock market closed in a narrow range, with each rising and falling, but they were all hovering around the midline.

However, Thunder's position of 1,000 lots is frightening.

After get off work time.

"Lei, our analysis of the Japanese stock market concludes that the Japanese stock market fluctuates within a narrow range. We are optimistic about the long term. In the short and medium term, Keda does not feel that the Nikkei 225 Index has a downward trend..."

Lei Hao was sitting in the office, holding the phone in his hand, and Nick's endless explanations came from the receiver.

In China's stock market, it is too difficult for foreign forces to participate, but in the Asia-Pacific stock market, Japan and South Korea have not set up many obstacles to currencies such as the US dollar. It is very convenient for institutions such as Ketak and HSBC to participate in shorting the Nikkei 225 , but they didn't move.

Nick was taught a lesson by Lei Hao several times in the early stage, and later made several treasures with Lei Hao. Now he is responsible for Keda's investment projects in the Asia-Pacific region. However, as financial professionals, it is impossible not to plot against each other.

For example, this time... neither Keda nor HSBC told the truth completely to the Thunder, and they still had the idea of ​​​​being on both ends.

"If we add our funds, it will fall." Lei Hao also accompanied the group of people in acting and said in a calm tone: "If you are worried about the position, just follow the rhythm of Lei Hao and build a position together."

"But, Lei, Keda is a big organization. Although I am only responsible for highly speculative funds, it will take a certain amount of time to gain approval from superiors." Nick's voice continued to come from the mobile phone microphone.

"So, you decided to wait and see first?" Lei Hao asked.

"Well, that's what I think, Ray, and I hope you understand that I need to be responsible for the funds." Nick replied.

"Actually, I also want to see how much energy there is in the market. If you don't participate, let me test it first." Lei Hao said very hypocritically.

After hanging up the phone, Lei Hao showed a smile.

It is true that they are waiting and watching, and it is also true that they cannot see the market trend clearly, but Keda and HSBC have made it clear that they are not telling the truth.

With the help of Taihe, Leiting may not be able to see the external capital entering China, but HSBC and Ketak will see some clues through other Asia-Pacific markets, and then based on their own strong channel capabilities, they will naturally be able to draw certain inferences.

I can’t say for sure, but I’m sure I have some doubts.

These things are very important to the Thunder, but these two guys, Keda and HSBC, didn't talk about it. What do they think? There is no need to think too much, it must be to gain more benefits through information advantage.

However……

"You are not sure, but I am sure. When it comes to information advantage, who is better than me?" He continued to answer a few calls and got similar answers from guys like HSBC and Standard Chartered. Lei Hao was a little calculated to make other people happy.