Relevant authoritative media reports
One. China Net Finance June 22 According to CCTV financial reports, some spot trading platforms recently attracted investors with huge profits under the banner of financial innovation, which eventually led to heavy losses for investors.
Two. Beijing, July 14 News According to the voice of the economy, "Everyday 3 15", the stock market is ups and downs, and investors have set up various online forums to talk about the stock market trend. Chatting, I found that many people in the group discussing the stock market are recommending investors to do crude oil spot. Some friends couldn't help but persuade them to invest money to operate crude oil spot, and later found that the loss was serious. What is the reason? Some investors have questioned that the reason for the large loss may be that someone is manipulating the transaction.
Spot crude oil trading What is the illegal spot crude oil trading?
Oil trading is an important financial transaction mode. The domestic oil trading market started later than foreign countries, and the system is still being further improved. The forms of oil trading mainly include oil futures trading and oil spot trading. Because spot trading is superior to futures trading mode in many aspects, oil spot trading is a widely used and concerned trading method in the world, especially in economically developed countries. On February 20 14, Beijing petroleum exchange began to launch spot oil trading, which is the first and only oil institute in China to carry out spot oil trading at present.
Please see clearly that it is a spot transaction of oil, not crude oil or asphalt gasoline. Therefore, domestic spot crude oil trading is illegal.
How to judge the legality of spot trading? 1. Delivery quantity.
Without delivery, there will be no spot commodity trading, which will be a pure speculative environment. Without the circulation of physical goods, commodity prices cannot be closely linked to market prices. If the price difference between commodity prices and market prices is too large, it will bring unexpected losses to investors, which are often huge and unpredictable. There are some electronic disks under the banner of the exchange, and there are often no delivery warehouses. Even if there is a delivery warehouse, there is no traded goods in the warehouse. These electronic disks often artificially set obstacles for the delivery of goods.
Second, by which level of government approval.
At present, the state implements the examination and approval system of people's governments at or above the provincial level for spot commodity exchanges, with high entry threshold and increased regulatory measures. Some spot commodity exchanges have been delisted, and other electronic disks that have not passed the examination and approval will not exist for a long time, but will gradually disappear in a short time. At present, most spot commodity exchanges are established with the approval of local governments. The main features are: single trading variety, small trading volume, small number of dealers and irregular management. But now the Ministry of Commerce has made it clear that it has not approved any exchanges. So from this dimension, all domestic spot transactions are illegal.
Third, the transaction form.
Some exchanges in the name of spot exchanges are actually futures in disguise. The commodities traded in such exchanges are forward contracts, which are divided into 2 months, 4 months, 6 months, 8 months, 10 months, 12 months or 1 month, 3 months, 5 months, 7 months, 9 months, 65438 months +065438 months. The revised regulations stipulate that those who illegally set up futures trading places or organize futures trading activities in other forms shall be banned by local people's governments at or above the county level, their illegal income shall be confiscated and they shall also be fined.
Fourth, whether there is a supervision mechanism.
Many illegal exchanges are both rulemakers and participants in transactions. All use virtual funds in the process of participating in the transaction. They use the convenience of mastering the background of the trading system to control the traders' funds, which are often targeted by them and will be wiped out. The lack of supervision mechanism also makes it difficult for these traders to recover their losses.
Spot trading is defined as illegal by national authorities, so it is far away from spot crude oil, precious metal asphalt, oil and gold trading.