: Before, recently period http://, individual warrants trading volume significantly enlarge, change hands frequently and price volatility, aroused the attention. In order to fully draw warrants market risks, the protection of small and medium-sized investors, Shanghai and Shenzhen stock exchanges has adopted a series of regulatory measures to market risk, appeal to investors warned rational investment.
According to the Shanghai Securities News reported that according to statistics, in just 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. After extensive analysis and investigation on the basis of the lock on the cards for individual existence have manipulated the violation warrants trading enterprise and has, in accordance with the procedures to the attention of the investigation of the China Securities Regulatory Commission.
Our market warrants issued and listed is the product of the share-trading reform. Some companies take delivery of warrants payment unit into consideration, and explains the company's stock reform challenges for shareholders, companies, investors between win, effectively promoting the stock reform process, facilitated our securities derivatives market, for innovation in China's securities markets and the development of great significance.
For maintenance of e business order to ensure that the warrants market healthy and orderly development of the stock is located first warrants "Baosteel warrants" on the occasion of the launch was specifically developed to permit monitoring plan. Since June of this year, the warrants market in particular, China Merchants Bank put a round of 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 speculation "payer" wanton speculation, it is necessary to guide investors understand the risks, blindly to warrant investment. The clearly stated on the card, 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.
Recently, on the card and on 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. At present, the market speculation is to a certain extent and effectiveness of the initial regulation.
International warrants market development experience has shown that as securities derivatives, warrants a lever function, effects of low transaction cost, price and volatility factors more characters, such as determines the warrant price fluctuation and exchange rate high, easily become an object of speculation, but we should see that the main effect of the warrants is to provide investors with a means of managing risk, warrants and other financial tools portfolio, you can develop more effective investment strategies to meet different risk appetite of investors and investment needs. Because of this, the warrant in some mature exchange market is considerable development, become internationally widespread and sophisticated investment instruments.
In our country, the warrants were applied to share-trading reform as a unit into consideration of the means of payment, the warrants market came into being, it has proved to be successful. From the first launch of the warrants, warrants market has only two years, there are many gaps in the area to be filled. In order to warrant a further development of the market, the card will take further measures to strengthen monitoring,. Continuous use of capital intensive transactions that affect the price of warrants, if after repeated warnings is invalid, the card will take decisive measures to restrict or suspend trade in punishment, and, where appropriate, temporary suspension and other measures against market risk, maintenance warrants market healthy and orderly development.
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