Future chat group

"Other ASEAN partners require Thailand to open up its capital market more, and we also intend to make the capital market more active." Kunyu explained: "I have been preparing to promote the development of futures and futures."

"The trading volume of SET20 and SET50 is too small and cannot play the role of diverting funds and balancing stock market risks."

"The gradual opening of the financial derivatives market is the general trend, but our control over the basic market is too weak, which is a limitation."

"The original approach was to issue sovereign bonds and divide the market share, but now, we can have another try."

Kun Yu kept talking and Lei Hao kept listening. The meaning of these words would be confusing to outsiders, but insiders could easily understand it.

Quite simply, market competition is not fierce enough, which makes opening the market a luxury. Just like China’s implementation of financial marketization, without enough capital participation, enough freedom is too much exploitation. The big capital at the top of the food chain will The excessive devouring of small and medium-sized capital and retail investors has led to a situation where the market is either immobile or trapping people to death.

Before hearing Kun Yu's explanation, Lei Hao knew that Thailand had always intended to gradually activate the financial derivatives market, but they were so badly deceived by the Asian financial turmoil that the matter remained on paper.

Lei Lei concluded that Thailand is preparing to increase the proportion of securities held by small and medium-sized institutions and retail investors, and use a large number of market participants to activate the market.

Starting from industry, using the real economy to stimulate the capital market and gradually liberalizing the financial derivatives market is a good sign.

However, international financial institutions, including Thunder, are full of distrust of Thailand's plans. The reason is that European and American institutions have long controlled Thailand's financial market.

With more than 35% of the bond holdings, more than 25% of the transaction volume contribution, and more than 40% of the financial currency in their hands, the Thai authorities can only use policy power to slowly adjust.

"Are you going to end up?" Lei Hao asked, "Isn't that just the left hand fighting the right hand?"

European and American financial institutions control a large amount of capital in Thailand, but in fact a large part of this capital is owned by Thai people, but they only entrust these institutions to operate. Therefore, Kun Yu's end is to fight with his left hand and his right hand.

"The financial market has always been left-handed against right-handed, isn't it?" Kunyu replied with a smile: "Europe and North America are in a state of division and cooperation. Thailand introduces Chinese red capital. It is better for the three countries to compete for hegemony than two dragons playing with the pearl."

In order to promote the establishment of ASEAN stock exchanges, Thailand must gradually liberalize the financial derivatives market. Then they began to be politically pro-China, introducing Chinese capital, deploying industries, stimulating the financial industry, and activating the market...

Lei Hao felt that everything was connected in series.

"No wonder they prevent the Thunder from using their own money to enter the securities market. This is because the Thunder can issue bonds and establish funds, but the investors must be Thais." Lei Hao figured it out.

The establishment and development of the ASEAN stock exchange is a long-term goal, but the development of the local capital market by Thais is something that is being promoted every moment.

"I need more information." Lei Hao's eyes were shining.

The Thunder entered Thailand because they were optimistic about the economic development here. To be more precise, they were optimistic about China's ability to protect the Thunder and obtain corresponding benefits.

Otherwise, the Indian stock market has risen by 23% so far this year. Will Lei Hao participate? When he went there, he was educated by his third brother in collaboration with European and American institutions. In addition, the short-term fluctuations in the stock markets of China, Japan and South Korea contained enough interests, so Lei Hao had no intention of competing with Asan.

Now it seems that Thailand should have come to the right place to deploy here first. If the ASEAN Stock Exchange is established, Thunder's layout in the Asia-Pacific will take a big step forward.

"Mr. Lei, you must promise me one thing first," Kunyu said after taking some time to relax: "I require Thailand Thunder to be listed locally."

"This is impossible!" Lei Hao refused directly.

"Only independent subsidiaries are listed, not the entire group!" Kunyu added.

"That's impossible, we are a financial institution! A newly emerging financial institution!" Lei Hao's words were enough to explain everything.

Financial institutions go public? I can only say half and half. For those financial institutions that focus on channel business, brokerage business, fixed income business and other fields, going public is a good choice.

For a financial institution like Thunder, which mainly focuses on speculative profits, going public is seeking death, which is equivalent to handing over its lifeblood to regulators.

What's more, Lei Hao went public because he was stupid. He made money so fast. To go public, he had to give away at least 30% of the tradable shares. In addition, some people in Thailand also had to take part. What else was he playing?

"I believe Mr. Lei will agree." Kun Yu smiled. Having said so much, it means that the matter has entered the final stage of negotiation. If we don't strive for some benefits, it will be too late.

"I don't think there's anything to talk about in this matter." Lei Hao shrugged his shoulders and said it didn't matter.

Although he said this, Lei Hao still felt a little depressed. It was unexpected that Kun Yu would suddenly advance the negotiation to this point.

According to the hints of future information, Lei Hao should enjoy the fruits of victory today and wait for Kun Yu and others to deal with Thunder's illegal operations.

Now it seems that the other side is throwing out more chips, but also asking for more things, and things will definitely change.

Sure enough, before Kun Yu left, there was a knock on Lei Hao's office door.

At this time, daring to interrupt the meeting between himself and Kun Yu would definitely not be a trivial matter.

"Brother, Mark was invited by the Bank of Thailand to assist in the investigation, and the news came from HSBC." It was Li Yingfeng who walked in. He whispered in Lei Hao's ear: "The account problem, I don't know to what extent it will be investigated for the time being."

Lei Hao was speechless. According to Thai law, foreign-funded institutions are not qualified for margin financing and securities lending without a franchise. Even if they are, they will only provide brokerage services. In addition, in terms of options, accounts, bond holding ratios, etc., Thailand There are also many restrictions.

For example, if you hold enough shares of a listed company, you have to make a report. After you enter the market, you will exit. After the funds reach a certain level, you still have to make a report. You almost have to make a report when you go to the bathroom.

Of course, financial institutions said that they were selling the shares, so everyone would do some sideline operations. HSBC Holdings was certainly no exception. The Thunder's option contracts clearly violated the rules.

However, Thailand's financial supervision model is an intermediate supervision type between centralized and self-disciplined. HSBC Holdings is a bank, and Thailand has a "universal banking" system. The Bank of Thailand and the Securities Regulatory Commission of Thailand want to find out these things. They are faced with There are many problems.

"HSBC Holdings is suspected of illegal operations and is suspected to be related to the strange rise in the stock market..." People from the Securities Regulatory Commission arrived after Li Yingfeng, and a headline was posted on the official website.