1, the individual who quantifies the transaction violates the law and is a crime.

2. The institutional quantitative fund under supervision is legal. Not a crime.

3. The above information comes from the Measures for the Administration of Income Swap Business of Securities Companies.

4. Quantitative fund is to invest in those securities whose future returns may exceed the benchmark through mathematical statistics analysis, so as to obtain the returns beyond the index fund, and mainly adopts quantitative investment strategy to manage the portfolio.