Future Super Intelligent System

Shanghai Environmental Protection Energy and Materials Exchange is a new open futures and derivatives trading market in China. It is independent of the Shanghai Futures Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange. There is no link between the stock exchange and the Shenzhen Stock Exchange, and it is a completely independent trading market.

But it is also the completely independent innovation of the Shanghai Environmental Energy and Materials Exchange that attracts more attention. In particular, its trading products are mainly environmentally friendly energy and materials, and it has announced the first financial product to be released soon. It is futures carbon ink oil.

This has made people in the industry very sensitive to realize that the Shanghai Environmental Energy and Materials Exchange is targeting the Chicago Futures Exchange, the world's largest agricultural product futures trading market, and the London Metal Exchange, the world's largest non-ferrous metal trading market. These are the world's most core futures trading markets and even commodity trading markets.

Although Huaxia has three major futures exchanges, they are just following the world's largest futures exchanges. It is already impossible to promote these three exchanges. As for adding environmentally friendly energy and materials to The original futures market is easily restricted by the existing rules, because the listing of the Shanghai Environmental Energy and Materials Exchange is not only to win the world's number one title, but also to facilitate the formulation of new rules.

A major guarantee for Huaxia to do this is naturally because the only leading company in the world in terms of environmentally friendly energy and materials is Huaxia Enterprise.

In the new rules of the Shanghai Environmental Energy and Materials Exchange, there are three major changes.

The first is the trading hours. The Shanghai Environmental Energy and Materials Exchange will adopt a 23-hour trading system. The trading hours of the three major futures markets in China have been criticized for a long time. Many people even think that the failure of the futures market in China is important The reason is because the same trading hours as stocks are adopted.

People’s global markets are based on a 23-hour or 24-hour system. You only have a few hours a day. When the big and small non-agricultural data are announced, investors can only pray in the face of such gaps and jumps. If they are unlucky, their positions will be liquidated as soon as the market opens, which has no operability at all.

The trading characteristics of the futures market are mostly restricted by the time limit of the Huaxia futures market. Who would dare to play in the Huaxia futures market? Although investing in futures is speculative, it still has a bit of technical content, but now passively becomes more like a gambling behavior up.

Therefore, if the Shanghai Environmental Energy and Materials Exchange is to become a global exchange, time must be changed. The introduction of this new rule has been well received by investors and is destined to attract a large number of futures players to enter the market.

The second change is leverage. The minimum margin of the Shanghai Environmental Energy and Materials Exchange has been raised to 50%. The introduction of this new rule is mixed, because for those who like to speculate, if they increase the margin and reduce the leverage, they need more principal, which invisibly increases their investment pressure, and also loses a lot of excitement and fun.

But for those who understand the financial market better, they are more supportive of this change, because the earliest leverage was not prepared for retail investors, but for market makers. Although high leverage improves the utilization rate of funds, it can also It also increases the risk of funds, because the higher the leverage, the bigger the profit can be with a small profit, but the same is the case with a small loss when a loss is big, and you will face the risk of liquidation at any time.

The reason why people who know more about finance will support this change is because these people know that one of the three major weapons of the financial market is leverage. Because of leverage, retail investors can die faster and dealers can earn more easily. It is because of leverage that the financial market is always full of crash risks.

One of the most important reasons for China’s stock market crash in the last round was excessive loosening of peripheral leverage. As a result, after the first wave of liquidation, it plummeted and could not be closed. When everyone reacted, they began to deleverage.

It was too late.

In the two years after the stock market plummeted, spot money has sucked a lot of blood from the common people. Why spot can quickly make an investor bankrupt within a few days is also because he has fee leverage and capital leverage. Of course, there are market makers. Participation, or the current price transaction is an important factor, but if there is no leverage, the dealer can't play if he wants to.

So leverage is an absolute double-edged sword. For those who can make better use of leverage or those who like speculation and excitement, they pursue leverage, but for those who pursue market stability and sound investment, leverage is what they see demon.

Therefore, this rule of the Shanghai New Energy and Materials Exchange has caused a lot of controversy, and the third change of the exchange has also ushered in a lot of discussions.

That is to let go of the price limit.

After all, it seems to everyone that the purpose of lowering the leverage of the exchange is to stabilize the market, but the lifting of the price limit is a matter that is not conducive to market stability, at least on the surface.

However, many people have put forward their own opinions. Huaxia’s price limit system itself is not conducive to the normal trend of the market. On the contrary, it has increased the panic in the market. The Huaxia stock market can only buy up and not down, but the futures market is different. He can buy up and buy down. The two-way market will be closer to marketization, and the restriction of price limit needs to be lifted.

However, another voice believes that this is a brand new market with too much instability, and if the price limit is lifted, it may crash in minutes.

Anyway, the three major changes in the exchange, especially the last two changes, have caused discussions to come and go.

And Liu Fan at Wood Dragon Technology is wondering whether to call his wife. Liu Wei left in a hurry two months ago, saying that his wife was sick. Liu Fan was going to visit his wife but Liu Wei refused to say where. The hospital didn't answer Liu Fan's calls after that.

In Liu Fan's view, it's because Liu Wei didn't want to waste his time, and didn't think too much about it, but as time went by, there was no news, which always made Liu Fan feel inexplicably uneasy. Last month, Liu Fan called his wife directly. After calling, the other party said that he still needs to be hospitalized for a while, and Liu Fan did not bother him after a few words of condolences.

Another month passed in a blink of an eye, and the inexplicable uneasiness in Liu Fan's heart became stronger and stronger, and he always felt that something was wrong. This matter is like Liu Wei's style, but not like Liu Wei's style. Liu Fan watched the back of Liu Wei leaving the company in a hurry more than two months ago through the company's video surveillance, and felt more and more that something was wrong.

Still debating whether to call his wife, He Lin knocked on the door and walked in, "Boss, Director Qian is here."

"Oh good." Liu Fan put down the phone, but the call still hasn't been made...