The explosion of China Bank's crude oil treasure caused an uproar, and China Bank's reputation plummeted and even was punished. So what is the principle behind such products as crude oil treasure? Crude oil treasure is actually buying and selling crude oil futures on behalf of customers. The crude oil products of several major banks are similar. As a wealth management product, it is called linked to crude oil futures, similar to crude oil futures trading. The speculative trading of crude oil futures is beyond the business scope of banks, so the product of crude oil treasure is to trade crude oil futures for customers in the name of financing for customers. ?

1 is a simulated futures trading scenario.

Investors thought they were trading crude oil futures, but in fact their quotations never crossed the bank's computer mainframe system. Report the investor's quotation to the bank, and then the bank will buy or sell all the big accounts of crude oil treasure in its own banking system according to the investor's instructions. In fact, the bank simulated the trading environment of crude oil futures in its own internal computer host system.

2. There is no position under the investor's personal name.

Because crude oil treasure is a simulated futures trading scenario, all positions are held in the name of banks, not in the name of individual investors of crude oil treasure. The transaction details in the hands of crude oil treasure investors are all generated by banks according to their own trading systems. In fact, investors buy simulated crude oil futures, and the real crude oil futures trading is completed through the bank's crude oil treasure account, so there is no position under the investor's personal name. ?

3. In principle, such products will not be liquidated.

Because there can be no negative price in the trading of crude oil futures before, investors can't have a discount loss. It was only after the crude oil futures price became negative that the concept of forced liquidation came into being. This is the case with crude oil treasure. Its liquidation line is symbolic and will not be really implemented. It was impossible for crude oil futures to fall to 0 yuan before. This time, it was also because the Chicago Mercantile Exchange revised the trading rules and allowed the crude oil futures price to be negative, which led to the bank's failure to respond to this new major change, and the explosion occurred.