First, the first domestic joint venture futures company was born. The marriage of Jingyi Futures and Ruifu Futures could have established the first joint venture futures company in China, but the rapid bankruptcy of Ruifu brought the joint venture to an end. The newly acquired joint venture between galaxy futures and ABN Amro, a subsidiary of Galaxy Securities, was approved. On June 5438+February 1, the first joint venture futures company in China was born, which also marked the formal entry of foreign capital into the China futures market.
Second, international crude oil futures prices have risen sharply. When the remaining crude oil production capacity is close to the limit, the international crude oil futures price rises sharply. New york crude oil futures contract rose from $40/barrel in early 2005 to $70/barrel in early September, and the era of global low oil prices has ended.
Third, international metal futures prices hit a new high in an atmosphere of doubt. London copper futures hit a new high, once hitting $4,500/ton, causing a large number of bears to break glasses; Lun Aluminum also broke through the high point of $2,200/ton 10 years ago in 65438+February; Zinc in London rose from 1200 USD/ton in July to 186 1 USD/ton in mid-February; New york gold futures also broke through $540 per ounce in mid-June and 5438+February.
Fourth, the State Reserve Copper Incident Liu, a trader in the State Reserve Material Adjustment Center, established a large number of short positions in the London copper market in the summer of 2005, which was beyond his authority. 1 1 This short position was exposed and the market was in an uproar. In order to reduce losses, the State Reserve publicly claimed to own 6.5438+0.3 million tons of copper stocks, and continuously auctioned the reserved copper in the domestic market, and delivered the copper to the London Metal Exchange.
Verb (abbreviation of verb) Credit crisis occurred in American Ruifu futures. American Ruifu Futures is a leader in the global futures industry. Only two months after listing in August 2005, a credit crisis occurred. 10 12 On June 2, it was exposed that Ruifu executives had misappropriated huge amounts of money, and the company's share price plummeted, resulting in the rapid loss of customer funds. Ruifu Futures was also acquired by MF Global in June. The reality of the superstar's fall highlights the importance of the company's honest management.
Six, the futures margin security depository system and the futures company's net capital management system completed.
The completion of the above two management systems will lay a solid foundation for the future market takeoff; Then innovative futures companies are about to surface, and the great development of the futures market is just around the corner.
Seven, the Hong Kong market is open to mainland futures companies According to the CEPA supplementary agreement signed in June 5438+this year 10, eligible futures companies in the mainland can set up branches in Hong Kong from next year. Under normal circumstances, branches can engage in all businesses stipulated by the Hong Kong Securities Regulatory Commission, and the specific operational details are being worked out.
8. China investors will be able to trade overseas futures products soon after opening to the outside world, and the China Securities Regulatory Commission is pushing the China futures market out. Overseas futures will return again after the interruption of 10 years, and the opening of the external market will bring new market highlights.