CICC: Gradually Listing Other Term Treasury Bonds Futures

Zhang Shenfeng, chairman of China Financial Futures Exchange, said on Thursday (March 5th) that the next step is to speed up the innovation of financial futures products, gradually launch other key term treasury futures and options contracts, and timely launch short-term interest rate futures, so as to match the interest rate liberalization and improve the yield curve of treasury bonds.

Zhang Shenfeng pointed out that the next step will be to actively promote the listing of equity derivatives and provide directional and volatile risk management tools for economic transformation and upgrading.

In terms of exchange rate products, CICC will seize the RMB exchange rate market reform and RMB. capital account The quickening of the convertibility process and the opportunities for the construction of the Shanghai free trade zone will timely introduce cross exchange rate futures and Renminbi. foreign exchange Futures and options.

And International financial derivatives Compared with the market, China's field financial futures market started late and has few varieties. The international competitiveness of the financial derivatives market is insufficient, mainly reflected in the small number of varieties, the small insurance coverage, the "hedge" of hedge services, and the low spot coverage, indicating that there is still much room for future financial futures market.

He said that China's financial derivatives not only started late, but also developed slowly, failed to form a backwardness advantage, and the international competitiveness of the local financial derivatives market needs to be improved.

The China Financial Futures Exchange has listed five - year treasury bond futures. China's Ministry of finance has released the yield curve of several key term treasury bonds in 1, 3, 5, 7 and 10 years. From the international market, 10 - year treasury bond futures and five - year treasury bond futures are the two most important treasury bond futures products.

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In March 5, 2015, stock index futures recovered, and a small line with a shadow line was collected. How will the stock index go next?

The stock index is still brewing and gaining momentum for the new round of rise. Some friends asked, since the stock index is still in the interval, there are two downward gapped gaps left on Tuesday and today, leaving another upward gap in February 13th, according to the gap theory. What is possible is that the index first makes up the two downward gap gap and hits 3406, then down to fill up the upward gap in February 13th. The other possibility is to first fill the gap of the upward gap in February 13th to form a relay situation at the bottom of the head and shoulders, and then launch a new wave of main waves. If it is the former, it will give everyone a chance to lighten up in the process of high inflation; if it is the latter, it will only be adjusted to several dozen to one hundred points, and then a new wave. We think the former is more likely, but no matter what kind of situation, the situation will not be bad. You know, it's just a relay in the middle of a bull market.

The small and medium board index and the gem index again hit the new round of the current market, the trend of rising is obvious, and no matter whether it is the daily line or the weekly line, there is no sign of peaking. This means that there will be a new high in the later stage, and the opportunities for individual stocks are still there.

From October to the end of December last year, mainly the heavyweight shares rose, the small and medium board index and the gem index were on the side; in January this year, the small and medium board index and the gem index took the lead. The bull market is constantly switching between the heavyweight and small cap stocks. We must recognize this point because the handover between the next heavyweight and small cap stocks is getting closer.