Nine questions to understand the BOC crude oil treasure that allows investors to put money down



Nine questions to understand the BOC crude oil treasure that allows investors to put money down
The Bank of China crude oil treasure incident recently refreshed the screen. The latest development is that the Bank of China has transferred all the principal from the investor account and also issued a deposit to replace the receipt.Who could have imagined that US crude oil futures plunged to a negative value, causing domestic investors to “injure” in surprising ways.According to the announcement of the Bank of China on April 22, the subsidiary product crude oil treasure will follow -37.The official settlement price of USD 63 / barrel is priced.This means that investors of BOC Crude Oil Poor have both lost principal and owed bank money.What is going on?Sauna and Yewang sorted out the nine key issues of the incident and took you to understand the “crude oil treasure incident”.1. What happened to the Bank of China crude oil incident?Since the beginning of March, international oil prices have continued to slump. Many people think that oil prices will definitely rise, so they want to dip into the crude oil market, including BOC crude oil investors who choose to look at crude oil prices.The product is associated with international oil prices (WTI crude oil futures). On the evening of April 20, the US crude oil 05 contract showed the first negative settlement price in history.According to the announcement of Bank of China, Crude Oil Bao will follow -37.The official settlement price of USD 63 / barrel is priced.As a result, investors who chose to buy more, not only lost the principal, but also owed money to the bank, gradually expanding the amount by nearly 300%.Because the design of the product is unleveraged and 100% margin, analysts and investors did not expect that there would be a situation where the principal was lost and the bank money would be “backed up”.2. What product is Crude Oil?Businesses like crude oil treasure have a popular name called “paper crude oil”, which invests not in petroleum or crude oil futures.Crude oil futures have a relatively high investment biology and it is difficult for ordinary investors to participate.The characteristic of this product is that the transaction starting point is low, the transaction starting point is 1 barrel, and the minimum increment of the transaction is 0.1 barrel.According to the current price of crude oil futures, the price of a barrel of crude oil is more than one hundred dollars.Investors can choose to go long and short crude oil.If you think that crude oil will rise, you can choose to go long, and if you are not optimistic about future crude oil prices, choose to go short.Crude Oil is divided into two products linked to US crude oil futures and British crude oil futures. It supports the simultaneous trading of USD and RMB, and uses margin trading without leverage.3. Why do crude oil investors owe bank money?This product invests in crude oil futures in recent months. For example, investors who want to invest in crude oil in April bought all crude oil futures in May before the delivery of May Oil futures on April 21.On April 21st, customers can choose to move positions, close their current contracts, and open the next contract at the same time, which is the US oil June contract.Another option is the rolling difference treatment, which is to close all current contracts held by customers, and user income and replacement are the difference between the purchase price and the settlement price of Mayo ‘s May futures.For example, the purchase price is 140 yuan, the price of May oil contract is -266 yuan, and investors lose 406 yuan.It even lost 140 yuan in principal and 266 yuan in debt to the bank.4. What is the possible fuse this time?The first negative oil price in the crude oil futures market led to customer replenishment.On the evening of April 20, the U.S. crude oil futures price May WTI contract fell to -37 a barrel a day before expiration.63 US dollars / barrel, which translates into RMB 266 yuan.For example, the extreme case that investors could think of was a barrel of oil bought at 140 yuan, the expiration price became 0, and a barrel lost 140 yuan.But as soon as the negative oil price of “Living for a long time” appeared, it was equivalent to an overdue price of -266 yuan. For every barrel of oil investors bought, the principal was gone, and the bank owed 266 yuan.The reason for the negative oil price is that the current demand for crude oil in the market far exceeds the supply. The oil price is very low. Everyone has no place to store oil. The cost of refining is also higher than the price of the oil itself.The scene was very embarrassing.Therefore, extended delivery can only force liquidation, and negative prices appear.5. What is the latest progress?Several relevant investors said that in the early hours of April 23, Bank of China transferred all the principal from its “crude oil treasure” account.At the same time, investors also received a deposit deduction receipt today, informing them that the margin account has been cleared.Investors said that the total assets of the two-way treasure account were reset to zero yesterday, and were reset to zero this morning.6. How is BOC explained?The agreement said that the good margin fell to 20% strong, why not?Stop trading at ten o’clock in the evening, shouldn’t it be a shift at ten o’clock?Why is the delivery price according to the official settlement price?These three issues are the issues that investors are most concerned about at the beginning.On April 22, BOC customer service responded to the sauna and Yewang.For the position closing problem, the customer service stated that the Bank of China Crude Oil Treasury had a trading time of 9: 00-22: 00 on the last trading day of the contract. Banks would not force liquidation after 22:00, and the margin fell after 10 pm on the 21st.To less than 20%.On the evening of April 22, the Bank of China’s statement on crude oil treasure had another problem of liquidation, indicating that when the market price is not negative, the long position will not trigger a forced liquidation.For those who have determined to enter the position shift or expired rolling difference processing, the termination processing will be completed for the customer at the settlement price, no longer pay attention to the market, strong level.The price for the spread and settlement is set at -37.63 USD / barrel, the customer service responded that stopping trading at 10 pm does not mean shifting positions at 10 pm. The delivery price refers to the official settlement price of the exchange trading contract on the same day. The average price of 2: 28-2: 30 in Beijing timeSettlement.7. Is it illegal for BOC to move its position at the last minute?Banks such as Bank of China and ICBC have different settings for the last trading day of products linked to US crude oil, but they are indicated in the product agreement in advance. All along, BOC has completely docked with NYMEX (New York Mercantile Exchange)Regulations on the last trading day of each month of US crude oil.The advantage of the late shifting time is that before the expiration of US oil, investors can more fully choose when to shift positions, and then they can choose to buy and sell more time to expand the delivery time.It is definitely the possibility that there will be huge changes in the price of the continuous delivery period, because continuous delivery generally everyone will choose to invest in futures in the future, and a small number of transactions will cause changes in price fluctuations.8. Why are investors dissatisfied?First of all, before buying crude oil products, I do not know that there will be a situation where negative oil prices need to be reversed, and the risk is not well done.Second, investors gave saunas, and a screenshot from Ye.net showed that during the risk test before investing, some investors were found to be balanced investors. Such investors generally abhor high risks. The purpose of investment is to protect existing capitalTo obtain a stable appreciation.It is different from the current crude oil treasure.Third, in terms of risk control, the Bank of China’s product design does not consider the extremely extreme black swan situation.Fourth, there is no display on the 22nd margin account freeze.Normally, the delivery should be completed in the early hours of the 21st, but the Bank of China was delayed until the 22nd.When some investors transferred part of the deposit to the account at 8 pm on the 22nd, the Bank of China did not mark the account status, and frozen the funds transferred subsequently.9. Can crude oil futures June contracts be invested?The current price of the US oil June contract is around US $ 21 per barrel, which looks cheaper, but it may also copy the market of the May contract, which does not rule out the possibility of negative oil prices. It is not recommended to pick cheap without knowing the rules.Because of the concentration of crude oil, the gradual delivery cannot be closed, which may lead to negative oil prices.More importantly, the so-called “bottom bargaining” should be based on the familiar crude oil market.Sauna, Ye Wang Zhang Shuxin Editor Li Weijia Proofreading Li Shihui

Related Post

IRONMAN 70.3曲靖站取代太浩湖成全球最高赛道_1IRONMAN 70.3曲靖站取代太浩湖成全球最高赛道_1



IRONMAN 70.3曲靖站取代太浩湖成全球最高赛道 ­  “根据目前的资料,IRONMAN 70.3曲靖站已经取代之前备受赞誉的美国太浩湖站,成为全球最高赛道”,IRONMAN铁人大学总监张焱嘉在6月24日、25日举行的云南铁人巡讲上介绍,美国太浩湖(Lake Tahoe)举办的IRONMAN赛事曾因其独特的高海拔风景和极具挑战的赛道而吸引大量铁人参与,但随后该站赛事已暂停举行。与前者海拔不分伯仲的2017 IRONMAN 70.3曲靖站由此跃居全球最高赛道。­  目前来看,曲靖站赛道1910米的平均海拔受到了全球铁三选手的关注,记者了解到在已报名8月27日IRONMAN 70.3曲靖站的运动员当中有一半选手都来自海外35个国家和地区。­  万达体育在曲靖和昆明举办的两场铁人巡讲,不仅得到了云南省内铁人三项爱好者的青睐,还有超过百余名马拉松、公路骑行等体育爱好者也来到现场,与专家进行互动交流。IRONMAN U铁人大学总监张焱嘉、国内首位IRONMAN认证教练白峰与云南高原铁人俱乐部理事长王霆,为在场的铁人三项运动爱好者分享了IRONMAN品牌精神、科学周期性训练方法、以及曲靖站参赛要点等内容。­  高原赛道并不难,提早适应避“高反”­  王霆是云南高原铁人俱乐部创始人,凭着丰富的“打铁”经验,他所带领的高原铁人俱乐部已经走出了4位IRONMAN和7位IRONMAN 70.3完赛者。巡讲会上,不少铁人三项爱好者都表现出自己对曲靖高原赛道的担忧,王霆对跃跃欲试即将参赛的新手们谈到了自己的建议,他认为选手不必太过担忧高原赛道,提前适应环境,完全可以从容面对。­  “大家可以提前三天到曲靖来,适应一下这边的高原环境,能提前一周是最好的。”,王霆强调,还有2个月时间IRONMAN70.3曲靖站就要开赛,这个阶段的备赛过程里最重要的就是调整身体状态,而不是过分超负荷训练:“吃好喝好睡好才是最重要的,在这段时间里,运动员就不要进行高强度的训练了,休息好了比赛状态才会好。”王霆以轻松愉悦的互动锻炼方式提高了大家的参与和热情。­  备战IRONMAN 70.3高原赛道,训练适合自己最重要­  白峰是中国内地首位通过IRONMAN认证的教练,拥有6年“打铁”经验,在考察了IRONMAN 70.3曲靖赛道情况后,白峰表示“赛道总体难度不大,但是高原独有的高海拔和气候特点,使曲靖站充满着神秘感。” 距离IRONMAN 70.3曲靖站还有两个月,不少讲座参与者都提出了自己在备赛时碰到的问题,2012年伦敦残奥会游泳冠军王家超也在现场分享了他的训练经验,他并没有采用持续的高负荷训练,而是通过对于长期计划的灵活调配让训练与生活保持平衡。­  针对IRONMAN参赛选手的疑问,白峰重点讲解了IRONMAN 70.3赛事中选手体能分配与能量供给的策略。白峰认为体能训练是一门艺术,在现场他用“储蓄”、“消费”、和“赌博”来对训练进行比喻,”目前离曲靖比赛还有2个月,最关键的训练就是结合自身体能,核定训练强度、频率、以及持续时间这些项目,进行循序渐进式的科学训练,制定适合自己的计划最重要“。­  IRONMAN铁友汇上线,只会跑步也能玩铁三­  相比铁人三项爱好者关注高原备赛与体能训练,马拉松与骑行爱好者则表示,铁人三项需要一次性完成游泳、自行车、跑步三项长距离运动,太过于望而生畏。就此,IRONMAN U 铁人大学总监张焱嘉介绍了IRONMAN新推出的线上接力组队社交平台“铁友汇”。从IRONMAN官方微信就可以前往”铁人社交”平台进行注册,参赛选手只需掌握跑步、骑行、游泳中的一项或两项,系统就能够为选手推荐匹配的搭档或战队,共同参与IRONMAN 70.3和SPRINT接力赛。­  “我们希望打造一个前所未有的接力组队平台,让那些马拉松、骑行和游泳,这些热衷单项运动的体育爱好者也能够参与到铁人三项中进来,一边认识新朋友,一边了解这项运动,最终能够独立参赛IRONMAN 70.3。”,张焱嘉向记者表示。­  “铁友汇”接力平台的推出也是为了配合IRONMAN首度推出的短程冲刺赛。不同于以往举行的IRONMAN 70.3赛事,今年IRONMAN 70.3曲靖站首次迎来了SPRINT短距离比赛,选手以个人或接力形式在同样的赛道上,只需完成400米游泳、14公里骑行、3公里跑步即可完赛。比赛距离虽短,但赛事体验却仍然是IRONMAN级别。这项短程赛事的引进,既能让铁三高手体会极速快感,更可以让众多单项体育爱好者体验IRONMAN这一赛事的独特魅力,从而推动中国铁人三项运动的发展普及。­  铁人三项并非高不可攀,2017 IRONMAN中国赛增至5站­  现在IRONMAN拥有全球91%的铁人三项市场占有率,覆盖全球113个国家超过600万关注者,在欧美发达国家尤为受到欢迎。近几年,铁人三项运动在国内迎来了爆发式发展, 在延续2016年成功举办IRONMAN 70.3合肥站、厦门站的基础上,2017年度 IRONMAN 70.3还将依次在柳州、曲靖、重庆落地,全年共举办5场比赛。­  IRONMAN并非只是一项纯粹的体能与耐力考验,IRONMAN铁人大学总监张焱嘉在现场分享了国内外选手参与IRONMAN的感悟,对于欧美众多商业领袖、社会精英而言,参与并完成IRONMAN是一项毕生的挑战。­  看到荧幕里来自银川自由骑士俱乐部73岁的顾大我先生完赛IRONMAN 70.3合肥站赛事的画面,让来到现场不少马拉松、骑行爱好者颇感敬佩。一直以来很多人印象里把铁人三项归为极限运动,张焱嘉就此强调IRONMAN是一项耐力运动而非极限挑战,并不是只有年轻才能出成绩,”事实上国际很多知名选手都是在35岁到40岁才达到自己的耐力成绩顶峰,经过科学训练的70岁甚至80岁高龄选手参赛也很常见,铁人三项并非高不可攀“。­  此外,巡讲还介绍了曲靖站的赛事流程与要点、赛事活动以及一些重要的选手须知,方便在场的铁友更好地了解比赛。据悉,IRONMAN 70.3曲靖站还是2017年最后一场可以获得2017 KONA铁人世锦赛参赛名额的赛事。