What is the significance of the listing of SZSE 100ETF options and what impact will it bring to the market?
In the eyes of the industry, Shenzhen Stock Exchange 100ETF option, as the first option variety of domestic innovative blue-chip stocks, can form a good complement with the existing listed varieties. After the launch, China will initially form an option product system covering various ETFs such as large-cap blue chips, innovative blue chips, innovative growth, small and medium-sized market capitalization, which is more conducive to exerting the option risk hedging function and further enhancing the stability of the spot market.
At the same time, the introduction of Shenzhen Stock Exchange 100ETF option is conducive to improving the long-short balance mechanism, improving the function of the capital market and enhancing the market vitality and resilience. This can better serve the innovation and development of high-end manufacturing enterprises and inject new kinetic energy into high-quality economic development.
The Shenzhen Stock Exchange 100 index focuses on advanced manufacturing industries and gathers leading enterprises in many industries.
The reporter of Cailian learned that the Shenzhen Stock Exchange 100 index has many characteristics, such as obvious blue-chip characteristics, focusing on advanced manufacturing, distinctive innovation characteristics and high market awareness.
The SZSE 100 index corresponding to SZSE 100ETF option consists of 100 stocks with large market value and good liquidity in Shenzhen, with net profit accounting for about 60% of Shenzhen stocks, with an average market value of 1 198 billion yuan, and hundreds of billions of stocks accounting for about 70%. The strategic emerging industries of index stocks account for about 70%, and the R&D investment intensity reaches 6%, with outstanding innovation attributes; In the past three years, the average annual growth rate of operating income of index stocks is 18%, and the return on net assets is 14%, which has strong growth and profitability.
In addition, Shenzhen Stock Exchange 100 Index takes advanced manufacturing as the core, bringing together leading enterprises in high-end equipment manufacturing and intelligent manufacturing industries such as new energy, integrated circuits and medical devices. The weight of manufacturing component rights and interests is 77%, which is significantly higher than the Shanghai and Shenzhen 300 Blue Chip Index, and the advanced manufacturing industry has more "quality".
Meet the differentiated risk management needs of investors.
Shenzhen Stock Exchange 100ETF is the first ETF listed and traded in Shenzhen Stock Exchange, accounting for nearly 80% of institutional investors, and there is a strong demand for related risk management.
Under this background, the introduction of SZSE 100ETF option can provide investors with an effective tool to hedge the market risk of SZSE innovative blue-chip stocks, and facilitate investors to manage the spot position risk more accurately.
"Options have a unique insurance function, which is conducive to enhancing investors' confidence in holding the underlying spot, alleviating the selling pressure of the spot and enhancing market stability. "The industry believes that, for example, in a falling market, investors can hedge by holding put options, lock in the selling price of assets, provide protection for spot positions, reduce position losses, retain potential gains from market rebound, and enhance long-term shareholding confidence.
The data shows that as of165438+1October 24th, the cumulative trading volume of Shenzhen Stock Exchange options reached 263 million. After the GEM ETF option and CSI 500ETF option were listed, the average daily trading volume of the three options was1222,600, and the average daily position was 935,800, which was relatively stable.
The stability of the spot market may be enhanced.
In addition, with the introduction of risk hedging tools, the stability of the spot market will be further enhanced. The new variety of ETF options will help to improve the stability mechanism of the stock market, thus attracting medium and long-term funds to enter the market, boosting market vitality and enhancing market stability and resilience.
With the launch of Shenzhen Stock Exchange 100ETF option, it will further enrich the current investment strategy, enhance the enthusiasm of institutional investors to participate in spot market transactions, attract more funds to increase the allocation of corresponding ETF products, and help high-quality enterprises attract stable medium and long-term investment groups and gain better growth and development opportunities.
According to public data, after the announcement of the approval of GEM ETF options and CSI 500ETF options, the shares of GEM ETF and CSI 500ETF increased by more than 40% and 60% respectively, reaching 8.8 billion shares and 654.38+02 billion shares respectively, which introduced more than 654.38+00 billion yuan of incremental funds to the spot market and played a role in stabilizing the spot market. The average daily turnover increased by more than 90% and 190% respectively, reaching1200 million yuan and 600 million yuan.
SZSE 100ETF option will better serve the development of high-end manufacturing enterprises.
Based on accelerating the construction of a modern capital market with China characteristics, the introduction of SZSE 100ETF option will help to improve the long-short balance mechanism, improve the function of the capital market, enhance the market vitality and toughness, better serve the innovative development of high-end manufacturing enterprises, and inject new kinetic energy into the high-quality economic development.
According to the insiders, SZSE 100 index focuses on advanced manufacturing. The introduction of SZSE 100ETF option is conducive to increasing the product scale of SZSE 100 index, attracting more stable institutional investors for high-end manufacturing enterprises, gaining better growth and development opportunities, and enhancing the ability of capital market to serve the real economy.
At the same time, as an important financial factor, the introduction of stock option of Shenzhen Stock Exchange 100ETF option will help to improve the ability of Guangdong-Hong Kong-Macao Greater Bay Area and Shenzhen Pilot Demonstration Zones to gather and allocate high-end financial resources on a global scale, enhance the financial service ability and risk management ability of "Double Zones", help to build a capital market ecosystem that matches "Double Zones", and promote the continuous progress and new achievements in the construction of "Double Zones".
The option product system has been further improved.
The listing of SZSE 100ETF options can also improve the domestic option product system and form a good complement with listed options. Some market participants believe that the SZSE 100 index has the dual characteristics of innovation and blue chips, so the introduction of SZSE 100ETF option can provide investors with an effective tool to hedge the market risk of SZSE innovative blue chips, which is convenient for investors to manage the risk of spot positions more accurately and further enhance the stability of the spot market.
After SZSE 100ETF option is listed, it can further optimize the risk-taking structure of the existing ETF option product system, improve the basic system of the capital market, and lay a solid foundation for the stable operation of the market. The domestic capital market will form an option product system covering all kinds of ETFs, such as large-cap blue chips, innovative blue chips, innovative growth, small and medium-sized market capitalization, which can promote the coordinated development of various varieties of the option market and give full play to the functions of the option market.
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