Original title: CSI 500 refers to restricting trading volume, and some stock index accounts restrict opening positions.

Yesterday, CICC issued the Notice on Further Strengthening the Supervision of Stock Index Futures Trading, saying that the market has fluctuated violently recently. In order to further curb excessive trading, CICC decided to limit the daily one-way opening trading volume of CSI 500 index futures customers to 1.200 lots from 438+05 on July 7, 1965, further strengthen the management of stock index futures hedging trading, and focus on checking the matching of spot assets.

It is worth mentioning that CICC has previously made relevant provisions on the position limit of stock index futures. At present, the position limit of Shanghai and Shenzhen 300 futures index is 5000 lots, and the position limit of Shanghai 50 and CSI 500 futures index is 1200 lots. At the same time, the reporter of Shanghai Stock Exchange learned that CICC also issued the Notice on Strengthening the Supervision of Abnormal Trading Behavior of CSI 500 Stock Index Futures to its member units, saying that customers who open more than 1200 lots in a single day constitute an abnormal trading behavior of "opening a large number of positions in one day". The opening quantity on the day of hedging transaction is not subject to this restriction. Intraday trading volume refers to the number of one-way positions opened by customers for all contracts in a single day.

In addition, the reporter learned from some futures companies that CICC has restricted the opening of some stock index futures accounts.

"Today, CICC has restricted the account opening authority of many customers, including the account opening authority of multiple orders and empty orders, mainly restricting customers with large transaction volume. If the customer's opening prompt can only close the position, but our counter inquiry does not prohibit the opening of the position, it may be prohibited by CIC, and CIC is gradually notifying the futures company. " On the morning of July 6, a staff member of a futures company posted a message in the WeChat group.

"Some customers have reported that the orders for multiple stock index futures cannot be closed, and the system shows that they can only be closed." The Shanghai Securities Journal reporter learned from a number of futures companies that the position-limiting behavior is not only aimed at shorting, but also the opening authority of multiple orders has been suspended. "Empty orders are not allowed, and there is no way to make a deal with multiple orders." Some insiders explained. At the same time, the position limit is not only for institutional position accounts, but also for individual investors.

"CICC directly gave us a list of customers around 10, and unified restrictions on opening positions. Multiple orders and empty orders are not allowed to open positions." The sales manager of a futures company in Shanghai told the reporter that CICC did not give a clear reason for restricting the opening of positions.

"In our opinion, some accounts with relatively flat long and short positions have also been restricted. We guess it may be that the transaction is too frequent or the short position is heavy. " The manager of the above-mentioned business department told the reporter that the futures company can only inquire about the positions of customers in the futures market, but can't understand the positions of stock trading. It is uncertain whether these restricted accounts are hedging or speculation for the time being.

A person from a futures company in Zhejiang also said in an interview that two customers in its business department were restricted from opening positions. CICC verbally informed the futures company, and the futures company told the customer that the position limit was one week.

Judging from yesterday's position data, the total positions of the three futures indexes dropped significantly. The positions of Shanghai and Shenzhen 300 futures index decreased by 9937 lots; The 50-issue index of Shanghai Stock Exchange decreased by 2069 lots; The holding date of CSI 500 index decreased by 707 lots.

Judging from yesterday's market trend, the CSI 500 futures index, which has attracted much attention from the market, opened sharply higher in early trading, close to the daily limit price, and then went down all the way. In the afternoon, the CSI 500 futures index approached the daily limit position again, then stabilized, and the intraday amplitude was close to 20%.

The futures index fluctuated greatly during the day, and some futures companies indicated that they would strictly control the possible risk of wearing positions. "According to the after-hours settlement price, once an account that breaks through the strong flat line is found, the customer will be notified to add margin or forcibly close the position the next day." The aforementioned sales manager said