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Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said Sunday that policy support should be strengthened to vigorously promote the listing of A shares of eligible futures companies, and to actively promote the establishment of foreign-controlled futures companies. In addition, risk management tools should be further enriched to expand the market size. The SFC will continue to strengthen cross-border regulatory cooperation to promote common development of derivatives markets at home and abroad.
China Securities Daily quoted his speech at the China Futures Analyst and OTC Derivatives Forum as saying that this year the SFC will continue to promote opening-up at a higher level, in a wider scope and in more ways, adhere to the path of opening-up of specific varieties and actively promote the opening-up of specific varieties, including stock index futures, so as to meet international standards on the premise of keeping the bottom line of risk. It is compulsory and inclusive to facilitate the entry of foreign traders into the market.
"Next, we should continue to increase the supply of on-site and off-site products and tools around the demand of the real economy." Fang Xinghai said that CICC announced measures to normalize trading supervision of stock index futures, which is a good measure. The OTC derivatives market is still in its infancy compared with the OTC market.
He also said that we should steadily promote the establishment of new domestic futures companies, introduce futures companies with stronger capital strength and professional ability, vigorously promote employee ownership of futures companies, continue to promote futures companies to go out actively and steadily, promote the rational distribution and sound operation of overseas subsidiaries, and enhance cross-border service capabilities.
Fang Xinghai pointed out that futures companies should standardize the development of innovative business, strengthen the self-discipline management of risk management companies, establish and improve the monitoring and monitoring index system, build a good OTC derivatives repository, guide risk management companies to play a professional advantage around the main industry, and enhance service capabilities.
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