(Economic Observation) How does the crude oil treasure settlement agreement control the risk spillover in the international market?
China News Agency, Beijing, May 7 (Xia Bin) A settlement agreement on the Bank of China (hereinafter referred to as "BOC") crude oil incident was exposed, which caused a lot of attention from crude oil investors. Recently, reporters from China News Agency have verified the key content of the settlement agreement, including the loss of the negative price of the Bank of China, the return of funds deducted from the investor ’s margin account after settlement at a negative price, and certain compensation to the investor.
The 28th meeting of the Financial Stability Development Committee of the State Council of China recently pointed out that it is necessary to attach great importance to the risks of some financial products caused by current price fluctuations in the international commodity market, raise risk awareness, and strengthen risk management and control. It is necessary to control spillovers, grasp moderation, improve professionalism, respect contracts, clarify responsibilities, and protect the legitimate interests of investors.
Dong Ximiao, a special researcher at the National Finance and Development Laboratory and the chief researcher of Xinwang Bank, believes that the appropriate management of investors needs to be strengthened. From an operational point of view, a comprehensive risk assessment should be conducted to understand the customer's risk appetite, investment ability, affordability, etc.
He pointed out that there should be special methods for some complex financial products. For example, the basic premise for individual investors to invest in crude oil futures should be an understanding of the futures market, trading rules, and risk exposure. Investors should not only be familiar with the characteristics of futures contracts, trading scale, trading rules, etc., but also be familiar with the factors that affect futures prices, and have a high degree of understanding and understanding of the policy attributes and speculative attributes of oil.
"In addition to the general risk assessment, this type of product should also set a certain investment threshold to exclude some investors with weak risk tolerance." Dong Ximiao said.
Yang Zhaoquan, a lawyer representing Crude Oil Investor and Beijing Weinuo Law Firm, believes that for domestic financial institutions, it is urgent to pay attention to the risk spillover of the international financial market. It is necessary to control the spillover risk and product risk, pay attention to the appropriateness of product risk, and suspend Risky products. (Finish)