I. Application conditions for investors

Investors must participate in option simulation trading through securities companies with the qualification of option simulation trading brokerage business or other option simulation trading operating institutions recognized by Shanghai Stock Exchange (hereinafter referred to as "option operating institutions"). In principle, customers who participate in simulated trading must have margin financing and securities lending qualifications or more than one year's experience in stock index futures trading, and the specific requirements shall be stipulated by the option management institution.

Two. Open a derivative account

Investors who participate in option simulation trading shall apply to China Securities Depository and Clearing Co., Ltd. Shanghai Branch (hereinafter referred to as "China Settlement") for opening a simulated derivative contract account through the option management institution, and apply to the option management institution for opening a simulated derivative fund account. Investors need to provide ID cards, Shanghai shareholder code cards and other materials to open simulated derivatives accounts; An ordinary securities account can only open one simulated derivative contract account. The registered information of the simulated derivative account opened by the investor and its ordinary securities account shall be consistent.

Investors participating in simulated trading may directly open simulated derivative contract accounts and simulated derivative fund accounts if they have opened securities accounts before 20 13 165438129. The customer uses the simulated securities account and the simulated spot fund account with the same code as the original securities account to simulate the trading of the underlying securities.

Customers who open accounts after 201165438+129 October (inclusive) or simulated trading participants who have not opened securities accounts need to open simulated securities accounts and simulated spot fund accounts first, and then open simulated derivatives contract accounts and simulated derivatives fund accounts after specifying the transactions. The specific account opening process shall be stipulated by the option management institution.

The derivative contract account will take effect on the next trading day (i.e. T+ 1) after the account is opened.

III. Cancellation of derivative accounts

In the full simulation trading stage, investors can apply for cancellation of the simulation derivative contract account according to the specific provisions of the option management institution. For the simulated derivative contract account to be cancelled, its contract position must be emptied.

The cancelled simulated derivative contract account cannot be reused. If you participate in option simulation trading again, you need to re-open a simulated derivative contract account, which is the same as the cancelled simulated derivative contract account.

Four, the virtual capital allocation quota and principle

(1) Allocate quota

The option management institution allocates virtual funds to successful customer accounts. The initial amount of personal and institutional customers' simulated fund accounts is set to 6.5438+0 million yuan and 5 million yuan respectively. During the full simulation trading, customers can use virtual funds to participate in the simulation trading of options and their underlying securities. After the real simulated transaction is stable, please refer to the assets in the customer's real securities account and allocate virtual funds according to the requirements of our business plan.

(B) the principle of distribution

After the initial virtual funds are exhausted, customers can apply to the option management institution for the allocation of virtual funds at most twice, and the allocation principle is the same as the first allocation.