Ma Yun has money, and BOC has more money. Why doesn't BOC buy it? China Bank allows others to cut our leeks, which will not only cause trouble, but also be scolded and questioned by domestic public investors, and may also face some losses. It's not just a question of money here, because the price of oil is negative, and you can make money directly if you buy it. If this good thing can be operated, China Bank will do it, buy it directly and sell it to Sinopec and PetroChina, and earn much more money than the commissions of these customers. Then why don't you just buy it? This is because of the rules and actual situation of futures trading.

Why can't I buy it first? There are two crude oil futures in the United States, one is CME of Chicago Mercantile Exchange, and the other is WTI (Texas Light Crude Oil) purchased by BOC crude oil products. According to the trading rules of futures, futures need physical delivery when they expire. However, delivery requires qualification. Bank of China is only a financial institution and has no delivery qualification. Some people say that it is not feasible to cooperate with other qualified companies, such as PetroChina, because the physical delivery needs to be applied three days in advance, and three days ago, BOC obviously did not realize that it would fall to $37. The Bank of China reacted too slowly, ignoring the risk that the oil price might drop to negative value.

Even if it can be delivered, Texas crude oil needs to be rented locally in Cushing, an inland city in the United States, and the local oil depots are rented by others. You buy crude oil at a negative price. It looks like a bargain, but it's really a big trouble. But there is no place to put it, it can't be shipped out, and so many tankers can't be rented to transport it. This is why BOC can't buy it, Ma Yun can't buy it, and PetroChina can't buy it. Besides, the traders of BOC are probably sleeping, because BOC has already rested at 22 o'clock. Therefore, the reason why the oil price will fall to negative is obviously not in line with the actual situation. This is because others cut the leek, because others see that you have no physical delivery qualification, that is, you can deliver it in kind, and you have no place to put it. Transportation is still a big problem, so you can only close your position at the current price.

After China Bank's crude oil treasure incident, the top management of China Bank actually asked customers to make up the transaction funds. This aroused the anger of investors. Originally, the investment principal was not collected, and now it is even necessary to make up twice the capital. This is too bullying. So many customers began to consult professionals and lawyers, preparing to sue China Bank. At present, BOC's attitude has eased a lot. Now it seems that BOC has not done enough in product design and risk control, especially in the change of trading rules in the futures market, which seems indifferent and indifferent. On the last trading day, it stopped the customer's transaction according to the usual commuting time, and no one was on duty.

For investors, this is undoubtedly a lesson. The so-called investment and financial management are all risky. When there is an investment demand, we should also understand the meaning of the product. Don't simply think that the most important thing is the principal. Sometimes, it is not enough to lose the principal, but you have to make up for it. Although the incident of China Bank's crude oil treasure has not been finally settled, but the principal has to be made up after it is lost, I will ask you: Is it troublesome? Therefore, financial management is risky, investment needs to be cautious and eyes need to be polished.