Two Sigma, a world-renowned quantitative hedge fund giant, was approved to settle in China and obtained a private placement license in China. The management scale of this fund is about RMB 4 1 1 100 million, ranking first in the world among quantitative funds, and it is involved in open market products such as stocks, commodities and foreign exchange. It is a rare large hedge fund in the industry that uses machine learning and big data for systematic trading; 1 1 year, the management scale of the fund has expanded by more than 10 times. The two main funds of Yima can get 3% management fee and 30% profit commission, while the industry standards are generally 2% and 20%. There is no doubt that the two horses attract attention with their huge scale, algorithmic trading and barbaric growth.
On the one hand, the settlement of two suitable horses in China shows that China's financial opening up continues to advance in depth; On the other hand, happiness and sorrow are like two sides of a coin, not only "the wolf is coming", but also "the big wolf is coming".
In recent years, "openness" is a high-frequency word in the financial industry. As far as the opening of the capital market is concerned, the investment quota restrictions of QFII and RQFII were cancelled in September alone, and "12 was deeply changed" and so on. Although two smart horses were allowed to settle in China, they fully demonstrated the pioneering courage of China's capital market.
Turn to the other side of the coin. Quantitative trading is still in the rapid development stage in China, especially the quantitative trading with complex algorithm. Two smart horses settled in China, which put forward higher requirements for financial supervision experience. It is also particularly urgent to strengthen the skills of supervision, solve many links in the process of supervision, such as division of responsibilities, implementation of responsibilities, supervision and coordination, and cover various regulatory gaps.
Judging from the development of China's capital market, only after the introduction of stock index futures can there be real quantitative trading. However, the development of quantitative trading in China started late and developed rapidly, and the development process was not smooth sailing. On August 6th, 20 13, there was a problem in the arbitrage strategy system of everbright securities, and the "Oolong Finger" transaction of 23.4 billion yuan to buy ETF 180 constituent stocks instantly appeared in quantitative trading products. The lesson is painful.
For the quantitative trading enterprises that are still in the exploration and development period of quantitative trading in China, it is a real "big wolf" for two suitable horses to settle in China. In the face of behemoths, how can quantitative traders in China avoid risks, improve risk monitoring and early warning and early intervention mechanisms, develop rapidly, dare to wrestle with "predators", and even have the chic of "dancing in deduction, dancing in the wind and leaving in singing", which is what China investors want to see.