tsw gold let alone Hong Kong - ESC

According to Hong Kong media reports, is committed to expanding the exchange of commodity markets in recent years (0388), will today launch of Hang Seng index futures volatility index (volatility futures), this new product expected by the departments to help institutional investors managing risk, and increase transparency in the options market. According to a report in the Wen Wei Po in Hong Kong in recent years committed to expanding commodity marketThe Hong Kong Stock Exchange (0388), will today launch of Hang Seng index futures volatility index (volatility futures), this new product expected by the departments to help institutional investors managing risk, and increase transparency in the options market, to expand options on the Hong Kong market. Exchange transactions, head of Dai Zhijian pointed out that volatility futures helped fund and round of hedging risks, to reduce costs, to over-the-counter optionsTransactions in the back field. 　　He described this as "slow heat", in fact, HKEx launched in recent years of gold (1735.10 tsw gold,9.20,0.53%) and dividend futures futures, were not enthusiastic response of the market. For example, Hong Kong Exchange in gold futures 08 09 only about 6,700 contracts traded, last year more than 3700, so far this year the products more "no market". Others such as the end of 2010 to launch dividend futures, good momentum of development, concluded contracts with about 11,000 last year, has so far this year has 3,450. 　　While new products fail to market boom, but the build, launch new products, want to continue to spell out a desperate way. GoldFuture dividend futures response slow heat option in the region have established a leading position in the market of Hong Kong swtor credits, relative 05, Hong Kong's stock options trading volume has increased by 8.5 times times, index options also increased 4.6 times. Warrants trading in Hong Kong was ranked the world's over the years, warrants close last year, 15.4%, derivatives pricing depends on the underlying price andStretch band. While many individual complaints, corrected price changes of stocks, indices, options or Wo lose "fixed" this ignores the effect of implied volatility. 　　After launch volatility futures, establishment of standardized indicators is expected to be able to Hang Seng index options. Investors Association President Tan Shaoxing said volatility Futures is part to Hang Seng index services company is "China volatility index (VHSI) "As the basis, VHSI is a reference to the Chicago Board Options Exchange volatility index (VIX) coding method, calculated that month and the following month Hang Seng index options from top to bottom the most nearly 20 strike price changes, changes to measure the expected volatility of the Hang Seng index. On Friday China volatility index closing at $ 22.75 per 5,000 points, contracts, and a contract value of about 11. $ 3.75 million, only nine points and Hang Seng index futures contract. 　　Preliminary expectations of the Hong Kong Exchange fair deposit of about 23% contract value, measured at the admission fees as low as $ 26,000, and three futures as market makers. Tan Shaoxing: retail is better to buy a "small" However, Tan Shaoxing does not think that the product comparison will be welcomed by retail investors, because volatility indexRose shows market volatility to expand, usually on behalf of the big city may plunge, so market index volatility often is called "fear index", but if the city is "evaporate" falling volatility index does not reflect the retail if negative Outlook, it is better to buy a "little" or "PUT wheels" (or "put wheels") easier. In addition, he means the United States has the VIX index andRelated derivatives has been for many years, but the deal did not see active, let alone Hong Kong, United States or even of the VIX index Exchange Traded Fund (ETF) market, take exhibition not for sale, but are mainly hedge funds interested, we can see that the acceptance of retail investments in new products do not aoc gold, Exchange relies on this breakthrough product has a certain degree of difficulty.