● Must pass the test questions provided by CICC.
● "Practical experience" in simulated trading of stock index futures.
A few days ago, a document named "Index System for Suitability of Natural Person Investors in Stock Index Futures (Provisional Draft)" was issued to a number of futures companies. The regulatory authorities require futures companies to select some individual investors from existing customers for pilot scoring. According to insiders, the so-called "appropriateness system" is actually a "qualified investor system".
According to the definition of this system, the system standard of natural person suitability of stock index futures includes four aspects: personal basic situation, financial situation, professional investment ability and risk tolerance. Specifically divided into "hard indicators" and "elastic indicators". Investors with hard indicators must meet them one by one, otherwise their application for opening an account will be rejected; Investors of elastic indicators must truthfully declare, and futures companies conduct comprehensive evaluation.
The first item listed in the hard index is that when a customer applies for opening an account, the fund balance of the margin account shall not be less than 500,000 yuan. In other words, the minimum capital threshold for individual investors to apply for opening a stock index futures trading account is RMB 500,000. This is much lower than the 1 10,000 yuan circulated in the industry before.
Individual investors who want to open an account must have some basic knowledge of stock index futures and pass relevant tests. The hard index stipulates that customers should complete the examination questions provided by CICC under the supervision of futures companies, and the examination time is about 30 minutes. If the test fails, the futures company shall further train the customers until they pass the test. Of course, the test questions will not remain the same. It is understood that CICC will establish a large question bank, and each set of questions will be randomly generated from this question bank. At that time, investors can download the questions through the official website Stock Exchange.
In addition to mastering the basic theoretical knowledge, individual investors should also have the "practical experience" of stock index futures simulation trading-at least 5 trading days' trading experience, and accumulated more than 10 transactions. For investors who have never participated in stock index futures simulation trading, futures companies can give them five trading days to practice, and provide five trading days' statements as proof.
Even if all the hard indicators are reached, individual investors can't participate in stock index futures trading if their scores on the elastic indicators are too low. The full score of elasticity index is 100. In principle, investors with more than 70 points can participate in stock index futures trading. Among all kinds of elastic indicators, the financial situation of customers is the most concerned, with a total score of 50 points. My annual income is more than 300,000, or my family's annual income is more than 500,000, or my financial assets are more than 6,543.8+0,000, so I can get full marks directly. My annual income is less than 6.5438+0.2 million yuan, or my family annual income is less than 200,000 yuan, or my financial assets are less than 300,000 yuan, so I can only get 654.38+0 points. It is worth mentioning that the complexity of elastic index verification far exceeds that of hard index.