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The rules of the financial circle are very bloody. It is a network formed by intertwined food chains.

Now that everything is on track, funds are competing with each other in the market. After reading the latest information again and going through all the information in his mind, Lei Hao knows that there is not much he can do.

Price, entry time, quantity and energy... all matters have been chosen. Lei Hao has chosen the most appropriate operation method for his own funds. The rest can only be seen whether the market will operate in the direction he wants.

The atmosphere in the area where Lei Hao's investment department is located seems to be tense, with people coming and going in an endless stream, with a hint of expectation and enthusiasm on their faces, but inevitably there is also worry. Lei Hao can receive some emotional feedback from employees.

"130,000 contracts."

"There is nothing wrong with the Shanghai and Shenzhen stock markets. The most important thing is..."

"Nikkei 225 must fall!"

In the Yangcheng trading department, Xiang Yongze and others could still hold back, because the Shanghai and Shenzhen stock markets were no longer the battlefield where the winner would be decided first. When the Thunder's selling order in the Asia-Pacific market was caught, there was no doubt that the Nikkei 225, a market with higher leverage, has become the main battlefield.

Moreover, people in the Thunder vaguely look down on Taihe. In the eyes of others, Taihe is a giant, but in the eyes of everyone in the Thunder, it is no big deal. Even if they lose the domestic market, they are confident to catch up with Taihe.

We can afford to lose, but we have never lost, so why should we be afraid.

Hong Kong Island, Leo and Tao Liyu took on almost all the pressure.

When the selling order is caught, it actually proves that the main bulls are in the Asia-Pacific. From another perspective, it can also be said that the main bulls feel that the Nikkei 225 market has a greater chance of winning.

Thunder's reputation in China is enough to kill Taihe, but this is not the case in the Asia-Pacific market.

"Wait and see funds, wait and see funds! We must let them see the chance of winning!"

“Mizuho doesn’t have as much capital as we do!”

"No, it's because Mizuho doesn't have the courage to do it!"

In the financial market, you don't always win if you have more money. Just like the dispute over the RMB exchange rate, the Thunder did not have enough money to deal with the short sellers, but the other party retreated, and the Thunder won.

In the dispute over securities, there are really too many things to consider. You have 10 billion, do you dare to throw it all in? you dare? So what about 11 billion, 12 billion, or even 20 billion? Who knows how much money your opponent has.

The Thunder's weakness lies in their lack of foundation, but from another perspective, the Thunder dare to invest as much as they have, but Mizuho dare not.

You can use 10 billion to support the Nikkei 225 Index, but any more will affect other places, such as stocks, options, commodity futures, and even the operation of the institution itself.

Besides, positions represent risks, and risks are directly proportional to returns and losses. In financial history, large institutions have exposed their positions too much, and the results have been mixed, such as the subprime mortgage crisis.

Overall, Thunder and Mizuho can win or lose. What determines their outcome is third-party funds, which can also be called the market.

Third-party funds do not dare to enter the market casually. Institutional investors actually prefer risk-free technical arbitrage. When the situation becomes clear and a large number of people rush to raise funds, causing the market to slide rapidly in one direction, it is actually a kind of technical arbitrage.

200,000.

300000.

400000.

500000……

On the Nikkei 225 Index futures, Thunder's positions are soaring rapidly, which means that the severity of the long-short divergence is also intensifying.

However, everyone knows that this kind of position will not last. Although there are three major markets in the Nikkei 225, when the total market position is too exaggerated, the regulators in Singapore, Japan and the United States will not jump out to investigate. Strange things.

Therefore, whether the Nikkei 225 index rises or falls, we will actually know this afternoon, and regardless of whether it rises or falls, both long and short sides will find a suitable price to close their positions before the market closes. It depends on the intentions of both parties to call it quits or fight again tomorrow. .

In this case, the Thunder actually have another way to go...

"With Keda and the others behind me, there's no way I can agree to their conditions!"

"Index futures can't accommodate it, so options and CFDs can. Tell them that I want to use their channels to open their eyes. I want Mizuho's buying orders. At the same price, I want Mizuho's buying orders! "

In the securities market, options are of course the most profitable. Sometimes it is not surprising that a 100-yuan option can earn 10,000 yuan. However, options are products that fully bear obligations to the seller, so their trading volume has never been large.

The Hong Kong Island market is the most mature market for options products, but its trading volume is not large and cannot accommodate tens of billions of dollars in hedging.

In this case, many hedging extends to the off-site. For example, if two clients of a large institution have money in each other's institutional accounts, and one of them is bullish and the other is bearish, the institution can match them up to sign a contract and lock the account. Deposit and then earn handling fees.

Therefore, many operations in the financial circle are conducted off-site. Sometimes, on-site operations are only operations on the remaining power of both long and short parties after the off-site hedging is completed, which can also be called remaining funds.

There is 10 billion in off-market hedging. The longs have no money and the shorts still have 1 billion. Who wins? Of course the bears won.

But the bull has no money and has securities. He can use financing to buy them. He can also get rid of the off-market position at a loss and withdraw funds into the market to hedge again. On the other hand, when the short seller faces this situation, he can either deal with it in the same way or Just compromise, reap a profit and exit the market.

Add in countless third-party funds, and the complexity of financial markets becomes clear.

What Lei Hao wants is positions. As long as large institutions use various funds to protect the expected returns of these contracts, he doesn't really care.

At this point in time, only Mizuho will engage in crazy hedging with the Thunder. If they can't leave the court, then everyone will leave the court.

"Is the Thunder going to hold the position overnight?"

"Crazy guy, he wasn't going to close his position that day, and... damn, Ray was stingy with equity."

"Now we only have the choice to enter or not. If we are lucky, maybe the Thunder will come out."

By now, Nick and others understood Lei Hao's attitude. They wanted to keep their positions overnight by conducting over-the-counter transactions. Judging from this attitude, the Thunder did not intend to compromise with Keda and the others, at least not until things changed. There is an opportunity for negotiation.

The situation became clear. Lei Hao wanted to hold the bonds overnight, and his risk exposure was huge. From this, it can be seen that he was very confident. If there were no other changes, the small threats made by the four foreign-funded institutions in the early stage had simply become illusory.

But the opportunity is not without it. The Thunder does not accept the conditions of the four institutions. What about the long Mizuho? What would he do? If the market changes, everyone will still make money.

"It's a pity that you won't have a chance." Lei Hao felt reassured as his position continued to rise.