The Joint Symposium of FISF and China Financial Futures Exchange is held successfully.

Release time：2019-06-19    

On June 12th 2019, the symposium jointly organized by FISF and the China Financial Futures Exchange was successfully held on the FISF Huangpu Campus, with the theme of “Institutional Investors and the Financial Derivatives Market”. 

Wei Shangjin, Academic Visiting Professor of FISF and Tenured Chair Professor of Columbia University, and Li Haichao, Vice General Manager of China Financial Futures Exchange, attended the symposium and made opening speeches. Xu Yuenong, Visiting Professor of Finance of FISF and Executive Director of COBE Investment Management Co., Ltd., and Zhu Yan, Chief Investment Officer of Allianz China Life Insurance Co., Ltd., made keynote speeches to a number of experts and scholars from universities, securities companies, banks, and other industries.

▲ Wei Shangjin, Academic Visiting Professor of FISF and

Tenured Chair Professor of Columbia University

Professor Wei Shangjin stated in his speech that as the organizer of financial derivatives trading, the China Financial Futures Exchange is playing a key role in China’s financial derivatives market. At present, the domestic financial derivatives market is undertaking the significant task of furthering China’s economic reform and transparency while also facing a series of practical challenges and problems, and thus regulators, scholars, institutes and all relevant parties need to work in cooperation, making their own contributions to the healthy development of the market.

▲Li Haichao, Vice General Manager of China Financial Futures Exchange

In his speech, Li Haichao referred to the financial futures market as an integral part of the multi-level capital market that provides a solid guarantee for the stable and healthy development of the spot market. The symposium, titled, “Institutional Investors and the Financial Derivatives Market”, aimed to unite all parties involved, to draw on collective wisdom and absorb all useful ideas for the construction and development of the financial futures market. Eventually, the China Financial Futures Exchange is expected to focus on the structural reform of the financial supply side and endeavor to improve its capability to serve the reform and growth of the capital market and provide high-quality advancement to the real economy. The hope is to build a financial futures market that encompasses the qualities of having standards, being transparent and open, while being vigorous and flexible.

▲ Xu Yuenong, Visiting Professor of Finance of FISF and

Executive Director of COBE Investment Management Co., Ltd.

Professor Xu Yuenong made a speech entitled “Application of Stock Index Futures and Options in Institutional Investors”, noting that by properly applying stock index futures and options and giving full play to their risk management function, investors can gain strategic advantages from transactions and thus reduce risks and increase income.

▲ Zhu Yan, Chief Investment Officer of Allianz China Life Insurance Co., Ltd.

Zhu Yan delivered a speech entitled “Experience of Overseas Insurance Companies Using Financial Derivatives”. In it, Zhu pointed out that interest rate derivatives, when not increasing investment risks, could reduce the impact of interest rate fluctuations on the investment income of insurance companies, so that the comprehensive use of equities and interest rate derivatives in transactions could bring more income for customers from the stock and bond markets.

▲ Gao Huasheng, Associate Dean of Scientific Research of FISF,

Professor of Finance and Doctoral Supervisor

Host Gao Huasheng also held a roundtable with Li Muchun, Director of Bond Business Division of China Financial Futures Exchange, and several other guests. The discussion was titled, “How Should Financial Futures Serve Long-term Capital?”

▲ Li Muchun, Director of Bond Business Division of China Financial Futures Exchange

Li Muchun put forward three functions of treasury futures. First, institutional investors may use such futures to conduct interest rate risk management with low cost and high efficiency. Second, treasury futures’ consistent, public, and transparent prices have become a critical reference for market institutions. Thirdly, these futures can raise the liquidity of spot treasury bonds. The China Financial Futures Exchange will continue to improve the treasury futures product system, enrich the investor structure, and optimize trading rules to better serve long-term capital and participate in the treasure futures market in the future.