Before trading stock index futures, investors should first choose futures companies with legal agency qualifications, good reputation, safe funds, standardized operation and reasonable fees.
To choose a suitable futures company, we should first pay attention to its legal status. A legitimate futures company should have a futures brokerage business license issued by China Securities Regulatory Commission, a financial futures brokerage business license and a business license issued by the State Administration for Industry and Commerce. The legal business department opened by a futures company in different places shall also hang the business license of the business department of the futures company issued by the China Securities Regulatory Commission and the business license issued by the local industrial and commercial bureau. Note that both the license and the business license are marked with the expiration date. Secondly, in addition to meeting the statutory conditions, the commercial reputation of the futures company and whether it can ensure the safety of customers' funds are also important conditions that must be considered. Third, hardware and software should also be considered. For example, does the company call to declare? Whether to open online trading, and what is the trading speed? Finally, we can investigate the consulting services of futures companies or business departments, and whether the charging standards of handling fees are reasonable and so on.
For investors, there are two ways to find a suitable futures company. One is to find relevant futures companies through securities companies with IB business qualifications; The other is to find a futures company directly by yourself. But note that not all futures companies are qualified to be stock index futures agents. Investors can go to the member list and contact information listed on the CICC website to find a suitable futures company.
2. What are the specific procedures for handling financial futures accounts?
According to the relevant provisions of the Measures for the Implementation of the Investor Suitability System of CICC Financial Futures, the specific procedures for handling financial futures accounts are as follows:
1. First, define the account opening type. At present, domestic financial futures trading accounts are divided into three types: natural person accounts, general unit accounts and special unit accounts. Natural person accounts refer to accounts opened in the name of individuals for stock index futures trading, and the other two types of accounts are accounts opened by institutions or companies with independent legal personality for stock index futures trading. Institutional investors must choose a legal person account when opening an account, and may not open an account in the name of a natural person. Similarly, individual investors must choose a natural person account to open an account, and may not open a company account.
2. real-name registration system registration requirements. In order to ensure the authenticity and validity of the futures brokerage contract and protect the vital interests of the real holders of the contract, according to the Regulations on the Administration of Customer Account Opening in Futures Market, the account holder must go through the account opening procedures in a true and legal capacity.
Individual customers should personally handle the account opening formalities with valid certificates such as ID cards and sign the account opening materials, and may not entrust an agent to handle the account opening formalities on their behalf. At present, individual customers open accounts online through mobile phones.
Corporate customers should carry valid identification documents such as organization code certificate and business license to handle account opening procedures, and the agent of corporate customers should issue certificates of account opening such as power of attorney of corporate customers and agent ID card. Contracts are usually signed at the business premises of futures companies. Under special circumstances, futures companies can also send people to the customer's office to sign futures brokerage contracts face to face with investors.
3. In view of the transfer of futures trading funds, investors should open a personal bank settlement account or an enterprise bank settlement account (hereinafter referred to as "futures settlement account") free of charge at any bank of industry, agriculture, China, construction and delivery (also known as "futures margin depository bank"), or choose to re-register the bank settlement account opened in the above bank as a futures settlement account. Because when you go through the formalities in a futures account, you need to have a futures settlement account. Any change in the futures settlement account in the future shall be registered with the futures company.
The purpose of handling a futures settlement account is because investors must transfer and settle accounts through this account, instead of collecting deposits from futures companies in cash, or futures companies must withdraw deposits from investors through this account, instead of handling deposits and withdrawals through cash receipts and payments or internal transfers of futures companies. For example, if customer A wants to transfer money to customer B, it is not allowed to transfer money directly from the futures company. Instead, customer A must go through the depository procedures first, and then go through the depository procedures, indicating that it will transfer money to customer B. The purpose of this is to ensure the safety of customers' funds; The second is to prevent money laundering.
See figure 1 for the detailed process of opening an account for futures trading.
Figure 1 account opening flow chart
skill
National unified futures account system
On August 3rd, 2009, China Securities Regulatory Commission officially issued the Regulations on the Management of Customer Account Opening in Futures Market, which came into effect on September 3rd, 2009. The Regulations specify that China Futures Market Monitoring Center shall establish and maintain a unified account opening system for customers in the futures market, set a unified account opening code for each customer, and establish a corresponding relationship between the unified account opening code and the trading codes of customers in various futures exchanges. According to the deployment of unified account opening in the futures market, by the end of June 2009, the unified account opening in the national futures market was successfully completed.
With the realization of unified account opening, the real-name registration system for customers to open accounts in the futures market has been strictly and thoroughly implemented. The unified account opening system has played an irreplaceable role in preventing false customers from opening accounts, preventing names from being inconsistent with certificate numbers, using company names and business license numbers that do not correspond to multiple accounts, incomplete account opening information, and repeated account opening.