CSI 1,000 stock index futures and options are listed today

On July 18, the Securities Regulatory Commission announced that the CSRC has recently approved the CSRC 1,000 stock index futures and options transactions. The official listing transaction time of the relevant contract was July 22, 2022.

The CSI 1,000 index can comprehensively reflect the overall performance of the stock price of the company's market value of smaller market value, which is the market benchmark of the A -share small plate section. Earlier, the market has always lacked small -cap stock hedging tools in the market, while the CSI 1,000 stock index futures and options transactions can meet the market demand to a certain extent.

From the perspective of some industry insiders, compared with the 500 stock index futures, CSI 1,000 stock index futures and options can form more effective hedge on growth stocks.

Data source: Reporter sorted out the visual Chinese map Yang Jing map

The average market value of ingredients stocks is 10.9 billion

Earlier, the derivative market tool system in the A -shares included: stock index futures (China Gold Institute's Shanghai Stock Exchange 50, CSI 300, CSI 500 stock index futures), stock index options (300 Shanghai and Shenzhen stock index options), ETF options (Shanghai Stock Exchange (Shanghai Stock Exchange Stock Exchange 50ETF options and 300ETF options, Shenzhen Stock Exchange 300ETF options).

Regarding the official launch of the 1,000 -stock index futures and options of CSI, CITIC Securities recently released a research report saying that from overseas experience, even for leverage funds, the abundance of derivatives has a scale promotion. There are corresponding futures varieties. At present, the rights and interest derivatives markets in the Mainland have formed a multi -exchange, multi -standard, and multi -category characteristics. The richness of derivatives has a positive promotion effect on the increase in the scale of the corresponding spot target.

According to public information, the CSI 1000 index consists of liquidity after excluding the CSI 800 index stocks in all A shares, and consists of 1,000 stocks from large to small selection according to scale. The CSI 1,000 index can comprehensively reflect the overall performance of the stock price of the company's market value of smaller market value, which is the market benchmark of the A -share small plate section.

According to statistics from CITIC Securities, as of the end of May this year, the average market value of the CSI 1,000 index stocks was 10.9 billion yuan, and the median market value was 8.8 billion yuan, which was far lower than the CSI 500, CSI 300, and the Shanghai Stock Exchange 50 Index.

Before the CSI 1,000 stock index futures and options were officially launched, the A -share market lacked hedge tools for growth stocks. The previous derivatives could not achieve accurate hedging to growth stocks.

A securities company gold worker analyst recently told reporters that compared with the 500 -stock index futures of the CSI, the 1,000 -stock index futures and options of the CSI can form a more effective hedge on growth stocks. The 1000 phase of the phase will be more suitable. "

In his opinion, the listing of derivatives such as the 1,000 -stock index futures and options of CSI, which is favorable for quantitative hedging, but it will not directly affect the market's rise and fall.

"Specialized new" weight is higher

Recently, many institutions have borrowed the opportunity of the China Stock Exchange 1,000 stock index futures and options listing to promote investment opportunities for CSI 1,000 related products.

According to the statistics of CITIC Securities, compared to the CSI 300 Index, the industry distribution of the CSI 1,000 index is balanced. The first three major industries are basic chemical, medicine, and electronics. The industrial characteristics of component stocks are more prominent. Compared with the CSI 500 Index, the cycle industry of CSI 1,000 accounted for a lower proportion. The "Chaoyang Industry" has a greater weight.

According to statistics from the Debon Securities Strategy Team, the weights of the three major indexes of CSI, CSI 500, and CSI 1000 are 24.71%., 25.17%,, and 33.44%, respectively. It is worth noting that the weight of the "specialized new" enterprise in the CSI 1000 index is 8.64%, while the weight of the CSI 300 and the CSI 500 "specialized new" enterprise is only about 1%.

On July 21, the Anxin Securities Strategic Strategy Team issued a research report that from the perspective of the company's attributes, the group groups represented by the CSI 1000 Index have three characteristics: young (the company's average listing time is shorter), the scale is small), the scale is small), and the scale is small). (The average market value is small), and vibrant (private enterprise accounts for relatively high).

In addition, to participate in the China Stock Exchange 1000 index investment, CSI 1000ETF will be the first choice for many investors.

Anxin Securities Strategic Team believes that for individual investors, the number of ingredients stocks of the CSI 1000 index and scattered weights. The risk caused by high share concentration or insufficient stock selection capacity. The best investment tool for investment CSI 1000 index is the CSI 1000 Index Fund. Specifically, the historical market of the CSI 1000 Index was found that an objective fact is that the excess income of the CSI 1000 index is more prominent in the economic recovery stage and the stage of shocking after the plunge.

Daily Economic News

- END -