By: on strike dash manipulation irresolute!

Hearing on: http://, card: short-term manipulation and other violations irresolute

On the card against the determination of the entitlement hype seems to have never changed, and the supervision is gradually increased.

In the earlier survey related transaction exceptions of Sales Department, limit their transactions and to meet with heads of the relevant securities, initiatives such as talking to recently, the stock of recent warrant brokerage business large security companies and their sales letters, require securities dealers strengthen customer warrants trading compliance management that emphasizes its self-regulatory obligations of combating the warrants hype.

The card also made it clear that the treatment of suspected illegal acts such as short-term manipulation of warrants hype big stiff, will continue to account warrants trading in illegal conduct investigations.

Since June of this year, the warrants market in particular, China Merchants Bank option considering (580997.SH) is a large price fluctuations on the card in time to take a series of regulatory measures, timely detection, investigation and suppression of unusual transactions Act warrants. As for sales of individual investors account frequently large sequential declare buy sell, helping warrant price exception rise, by rapidly on the sales and accounts for investigation, warned a few investors shall not intentionally send, or attempt to manipulate prices. On the number of Rotary trading warrants is particularly high, the trading volume of sales, in particular focusing on the card to a written warning, and require securities dealers strengthen customer management, report and stop suspicious transactions.

In addition, also met with the head of securities dealers, calls for a strengthening of the conversation reminded investors education, not to tolerate some speculative investors wanton speculation, it is necessary to guide investors understand the risks, blindly to warrant investment. Just a half a month, on the relevant sales department conducted a telephone survey of 100 times and warned that a written warning letter 15, and an appointment to talk about security companies for reminders. And, after extensive analysis and investigation on the basis of the lock on the cards for individual existence of manipulation of the violation warrants trading enterprise and has, in accordance with the procedures to the attention of the investigation of the China Securities Regulatory Commission.

CITIC Jiantou analysts said: warrants irrational speculation appeared expansion urgency

Warrant market consequences inevitably lead to price distortions, completely detached from the fundamentals of two evil fried occur in only a small number of warrants, warrants very crazy non-rational speculation illustrates the warrants market expansion of urgency, CITIC Jiantou Institute financial derivatives analyst Wang Ming on Friday said, from January to may, the Shanghai and Shenzhen stock warrants market on the transaction amount has been ranked first in the world, but in number of warrants listed on Shenzhen stock warrants market is only a remnant of other markets.

In the first half of the unit into warrants expire very concentrated period of time, during which a total of 15 only warrants expire, including 6 only warrant and 9 only warrant. All warrants are based on in-depth price expires; within the form and all of the warrant shall be included in the form of warrants expire and become waste after expiration. New listing the number of warrants significantly smaller than the number of warrants due to the number listed warrants a rapid decline.

Wang Ming, stressed that the warrants market is facing a shrinking and the dilemma of being marginalized, market consequences is easily manipulated market speculation, while funds will inevitably lead to price distortions. Judging from the recent warrant extremely crazy non-rational speculation fully illustrates the warrants market need to vigorously expanding, the warrants market urgently needs new warrants products. From overseas markets, equity warrants development space is very limited, truly offers development space is covered by the warrant or stock options, warrants market in China, by the introduction of the covered warrants has been the development of the securities market was very objective requirement of urgency, the warrants market price distortions will become more and more easy to manipulate.