Are you talking about stocks or futures? During the period of 1994-96, there were share warrants, and during the period of 1992-1996, there were mainly share warrants and treasury bonds futures, but treasury bonds futures were suspended after the events of March 27th and March 9th. At that time, the futures market was mainly physical futures and treasury bonds futures, and there was no so-called stock futures as you said. On April 2010/6, China launched stock index futures. This is a stock futures based on the Shanghai and Shenzhen 300 Index. I think you should mean the rights issue warrant. The warrant of allotment is a kind of right certificate that the listed company gives the old shareholders to subscribe for shares of the company. The first warrant of China stock market is the Dafeile stock allotment warrant issued by Shanghai Stock Exchange in June, 1992. This period continues. I wonder if that's what you mean.