国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   

The long road to index futures trading

By Wang Lan (China Daily)
Updated: 2007-07-04 11:32

The long-awaited debut of CSI300 index futures, the mainland's first financial futures product, is testing the patience of many market participants, particularly institutional stock investors who would welcome an effective hedging tool to help minimize looming risks in an increasingly uncertain market environment.

ButShanghai-based China Financial Futures Exchange insiders said the exchange and the government regulatory agencies insist on getting everything right before the launch.

As a result, much time and effort is being spent on the regulations that cover trading practices, participants' rights and obligations, risk management and clearing facilities. Finding a shortage of experienced financial futures traders, many prospective participants are conducting training courses for selected staff members.

Special coverage:
Markets Watch  

Related readings:
 Regulator approves index futures trading rules
 China may put off launch of stock index futures
 Index futures may shake up brokers

The preparation process is further complicated by the diversity of the participants, whose specific interests must be equally protected.

"The birth of stock index futures represents the transition of China's financial market, from the previously divided operations and supervisions in separated markets to an integrated financial system with coordinated efforts from all markets," said Yu Yiran, an analyst with China International Futures (Shanghai) Co Ltd.

In the past years, a number of key rules and regulations have been introduced to pave the way for the launch of the index futures market. The Regulation on Futures Trading, which came into effect in April, has effectively laid down the ground rules for all participants.

China Financial Futures Exchange (CFFEX) last week saidChina Securities Regulatory Commission(CSRC) has approved the trading rules and contract specifications for CSI300 futures. The approved rules cover trading practices, clearing procedures, members' rights and obligations, risk control, information management, hedging operations and investigation and penalties for irregular trading.

The approval of the trading rules and contract specifications is widely seen as having cleared one of the final hurdles in the long preparation process.

The assessment of members' qualifications is expected to be the next focus for CFFEX in the coming months. The exchange has said the approval of the trading rules and the contract specifications was a major boost to the preparation work, although the specific trading date for the index futures is yet to be fixed.

But industry experts pointed out that other supplementary rules and regulations will have to be added to form a complete legal system for the proposed market.

Before that happens, it's difficult for the prospective market participants, including broking firms, fund management companies, institutional investors and clearing banks, to make any real progress in their preparation work.


(For more biz stories, please visit Industry Updates)

      1   2     


马边| 湘潭市| 高台县| 台中市| 宜良县| 增城市| 章丘市| 闵行区| 山丹县| 确山县| 乌拉特前旗| 友谊县| 高雄县| 民权县| 体育| 息烽县| 将乐县| 乌鲁木齐市| 乐业县| 万荣县| 凌云县| 天祝| 巨野县| 铜川市| 庆元县| 钦州市| 南开区| 西华县| 绿春县| 珲春市| 民乐县| 宁武县| 耒阳市| 景洪市| 汉沽区| 莲花县| 开阳县| 威宁| 清水河县| 全州县| 府谷县|