.jpg)
On December 7, SZSE officially issued the Rules Governing Pilot Stock Option Transactions of Shenzhen Stock Exchange and other nine rules, the Brokerage Business Guidelines Governing Securities Companies on Pilot Stock Option Transactions of Shenzhen Stock Exchange and other three guidelines related to stock option business, which took effect on the same day. It indicates that SZSE has formed a sound stock option system with rich content and clear layers, thus laying a solid institutional foundation for SZSE to stably roll out option business, which shall enhance risk prevention and control and promote the healthy development of markets.
SZSE’s business rules and guidelines regarding stock options are basis of the system that standardize the operation of stock options, covering contract management, transactions and option exercise, risk control, transaction regulation, investor suitability management, market maker management, and other items, specifying portfolio strategies, portfolio option exercise, market maker bilateral quotation, facilitation of investor account opening, etc., setting principle rules for block transactions, security margin and other aspects, leaving space for future business innovation. The formulation of business rules and guidelines regarding stock options fully drew on the existing market experience. Recently, SZSE has adjusted the settlement mode of ETF transactions, making it easier for investors to trade.
The relevant responsible person of SZSE noted that after the issuance of business rules and guidelines regarding stock options, SZSE will officially launch the granting of trading authority to option operators, account opening of settlement participants and investors and other work, and release the market maker list. Option operators are expected to continue the preparation of relevant work, organize investors to open accounts in a law-based and orderly way, participate in the tests of the whole network, and actively conduct investor education and training.
Next, SZSE will, following the unified deployment of the CSRC, closely working with parties of the market, practically complete all business and technical preparation, ensure the steady rollout of SZSE’s stock option business, promote the sound development of the capital market, enhance the capability to serve the real economy, so as to better serve the building of Guangdong-Hong Kong-Macao Greater Bay Area and the pilot demonstration area of socialism with Chinese characteristics.
