ICBC took the lead in innovating and launching the first domestic crude oil investment trading product. This product is based on the on-site futures price of international mainstream exchanges, and the corresponding futures contract is the target of trading. Because the quotation basis and the transaction target have the characteristics of expiration date, each product of account crude oil also has a fixed expiration date. If investors want to continue to invest in crude oil in their accounts, they must manually sell (buy) the last product and then buy (sell) the next product. In order to further enhance the customer experience, facilitate customers to continuously invest in trading account crude oil, and reduce the rolling cost, ICBC innovatively developed the automatic rolling function of account crude oil products, which can automatically close the previous product and open the next product through the system in the convertible period according to the relevant instructions of customers. The dumping types include real-time dumping, optional dumping and due dumping.
According to reports, under normal circumstances, investors need to roll over the account crude oil through two transactions. The roll-over function launched by ICBC saves investors' roll-over costs, simplifies the operation process, meets the needs of investors for continuous investment transactions, and helps investors to allocate their investment portfolios more conveniently and reasonably and grasp the fluctuation of international crude oil prices for investment transactions.
At the same time, ICBC also lowered the difference between the bid price and the selling price in the crude oil trading quotation of this account from February 24, further reducing the transaction cost of investors. Among them, the trading spread of USD products in Asia was lowered by 0.20 USD/barrel, and the trading spread of RMB products was lowered by 1.20 RMB/barrel. In European and American markets, the trading spread of USD products decreased by 0. 10 USD/barrel, and the trading spread of RMB products decreased by 0.62 RMB/barrel.