SHFA to Explore Financial Innovation

Date: September 19, 2011
Source: Futures Daily
By Wu Xia

　　Recently, Shanghai Futures Association (SHFA) organized a financial innovation meeting which deepened the exchange and cooperation between the futures and funds industries and discussed how to promote financial innovation, so as to meet the needs of the functional stock index futures and the increasing business services of the fund companies¨ specific clients.
　　Deputy Director Han Kang of the Shanghai Securities Regulatory Bureau said during the meeting that futures business institutions should take into consideration the new development of the market and take advantage of the gathered resources of industrial clients and institutional investors in Shanghai, so as to further strengthen and highlight the regional advantages, make full use and integrate market resources, expand business exchanges and cooperation, develop institutional investors, service industries and trade customers, create a favorable market environment and better serve the sound development of the national economy and the capital market.
　　Deputy General Manager Li Zhengqiang of China Financial Futures Exchange (CFFEX) talked about the market situation and function of the index futures. He said that in order to further improve the market efficiency and quality, CFFEX will seek breakthroughs in a number of areas including improving the hedging and arbitrage system and promoting product innovation, so as to better adapt to the needs of the healthy development of the financial market.
　　General Manager of UBS SDIC Fund Management Co., Ltd. Shang Jian introduced the current policies and development of the application of stock index futures in the asset management business, as well as thoughts on the use of futures to develop innovative products and the preliminary model of cooperation with futures companies. General Manager Xu Jianping of Soochow Fund Management Co., Ltd. introduced the status quo, problems and transition direction, as well as product features and direction of innovation of China¨s fund industry.
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