Category: Money tips Release Date: 2007-04-29
Related reading: Shenzhen Stock Exchange in the first ETF so popular these days only New Army as a financial innovation, easy Fonda Shenzhen 100ETF yesterday officially launched. Ordinary investors should be how to participate in the transaction of the product do? We have a capacity of 100 million fund the operation of Mr. Zhang as an example.
He first faced the issue is open an account. Mr. Zhang for cash subscription and secondary market trading in ETF shares, you can use the Shenzhen A share accounts or accounts in Shenzhen securities investment funds; and physical subscription or purchase, and redemption of ETF shares, you must use the Shenzhen A share accounts.
Participation channels, Mr. Chang has three choices: You can choose according to their own conditions and needs the cash to subscribe online, offline subscription in cash, net stock options under the ingredients. Shenzhen 100ETF subscription as well as the purchase, redemption for a larger amount of money customers. Among them, Shenzhen 100ETF subscription and redemption of the funds must be in 100 million yuan.
Arbitrage mechanism is easy to square up to the Shenzhen 100ETF different from stocks, unique to other funds. ETF at a premium in the state (secondary market, the market price is higher than a net), the same day Mr. Zhang can buy a basket of stocks, the same day purchase ETF, and sell on the same day ETF, resulting in a very short period of time (such as the tens of seconds) to complete the whole process of arbitrage. If the ETF premium more, Mr. Chang could benefit from. ETF also provides latency arbitrage opportunity if the date of Mr. Zhang read more index, investors can buy a basket of constituent stocks of the first, and immediately converted into the constituent stocks of the ETF, which will be index rose ETF sold, so that delay completion of the whole process of arbitrage.
The medium and small retail investors to invest in Shenzhen 100ETF the main form of trading in the secondary market. Its initial investors, investment demand is in fact very low, ETF hand 100 copies, only 100 yuan or so, you can have a portfolio of securities, can be a very cost-effective diversification of investments and reduce the risk of individual stocks.
ETF transaction costs are low, transaction costs and closed-end funds as low, or revenue from stamp duty for investors to trade frequently. At the same time, ETF allow secondary market trading, small investors can trade directly on the secondary market fund shares, like buying a low-risk, medium-large cap stock returns, as long as the right to judge the general trend on it. (Yuan Yuan)
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