Today, LTG GOLDROCK came to talk to you about the basic system of the fund ~
1. System of holding positions
Holding the Limited System refers to a system that is excessively concentrated in a small number of investors and customers to prevent the market price of the futures market price.EssenceExcerant, the exchange can forcibly close the position according to regulations or increase the margin ratio.
2. Large report system
Large report system refers to the speculative position of a member or customer's speculation contract that reaches the exchanges for more than 80%of the positions of the exchanges.Reporting its funds, positions, etc., customers must report through brokerage members.The large -family report system is another system that is closely related to the position of the positioning limit system to prevent large households manipulating market prices and control market risks.
3. The physical delivery system
The physical delivery system refers to the exchanges formulated and the futures contract expires.system.
4. Security system
In futures transactions , any trader must pay a certain percentage of the value (usually 5-10%) of the value of the futures contracts they buy and sells.The trading of futures contracts determines whether to add funds to the price change.This system is the margin system, and the funds paid are the deposit.The margin system not only reflects the "leverage effect" unique to futures transactions, but also becomes an important means to control the risk of futures transactions on the exchange.
5. Daily settlement system
The settlement of futures transactions is organized by the exchange.Futures Exchange Implement the daily liabilities without debt settlement system , also known as "watching the market day by day", refers to the profit and loss of all contracts on the day after the daily transaction., Trading margin and handling fees , tax and other fees, the corresponding amounts that should be collected should be transferred at the same time, and increase or reduce members' settlement reserve .The settlement of futures transactions is hierarchically settled , that is, the exchange settled the membership of its members, and the futures brokerage company settled its customers.After settlement every day, the funds can be collected directly after the opening of the futures exchange, and the stock market sells stocks on the same day, and funds need to be taken out the next day (except Saturday and Sunday).
6. System of rising and falling
The rising daily limit system is also called the daily price maximum fluctuation restriction , which refers to the transaction price of futures contracts on a trading day must not be higher or lower than the prescribed rise and fall, which exceeds the ups and downs of the ups and downs.The quotation will be considered invalid and cannot be traded.
7. Forcibly liquidation system
Forcibly liquidation system means that when the transaction margin of a member or customer is not fully supplemented within the prescribed time, or when the amount of positions of members or customers exceeds the specified limit,Or when members or customers are illegal, the exchanges implement a forced liquidation system in order to prevent the risk from further expanding.Simply put, it is a compulsory measure of the exchanges to implement the positioning of the position of the illegal position.
8. Risk reserve
Risk reserve system refers to the Futures Exchange withdrawing a certain percentage of funds from the membership trading fee of the membership of it as a reserve for ensuring the performance of the exchanges The system.The establishment of exchanges risk reserve is to provide financial guarantee and make up for losses caused by unpredictable risks to maintain the normal operation of the futures market.The exchange must not only withdraw risk reserve from the trading fee, but also establish special risk reserves of stock index futures paid by membership for stock index futures .Special risk reserves of stock index futures can only be used to provide financial guarantee for maintaining the normal operation of the stock index futures market and make up for losses caused by unpredictable risks on exchanges.The risk reserve must be calculated separately, and the special households are stored. Except for making up for risk losses , they cannot be used for him.
9. Information disclosure system
The information disclosure system is also known as the publicity system and the public disclosure system. In order to protect the interests of investors and accept the supervision of the public, it is necessary to put their own financial changes, business status and other information and information on the regulatory authorities and exchanges in accordance with the law.A> Report and publicize or announce it to the society to make investors fully understand the situation.It includes not only disclosure before issuance, as well as continuous information disclosure after listing , which is mainly composed of the prospectus system, regular reporting system and temporary reporting system .
