China Bank's crude oil treasure broke through the warehouse, so customers should be willing to gamble and lose. Why do so many people question BOC?

The biggest question questioned by BOC is the design of crude oil products.

The target product of China Bank's crude oil treasure is wti crude oil futures, which is traded until two o'clock in the morning, while China Bank's trading stops at ten o'clock in the evening. In other words, if wti crude oil futures fluctuate violently after 22:00, users of crude oil treasure can only watch and cannot trade.

Moreover, the margin system of crude oil treasure is invalid. According to the margin system of crude oil treasure, when the margin system is lower than 20%, the holder will be forced to close the position, but those who enter the warehouse transfer and expire will not trigger the forced liquidation. If the warehouse moves and the balance expires, will it not trigger forced liquidation? It has caused serious losses to users of crude oil treasure, knowing that the price of crude oil treasure was still 1 1 USD a barrel when the transaction stopped. If the compulsory liquidation clause still exists, when it falls to about $2 a barrel, it will start to be compulsory liquidation, and it will not be-$37.63 a barrel in the end.

By who? Entering the warehouse moving and maturity netting process will not trigger forced liquidation? Contact the Bank of China for the third question. You should know that wti crude oil 05 contract is 2 1 delivery. Why did Bank of China move its warehouse on the evening of 20th? ICBC and CCB, which also make paper crude oil, moved their positions as early as April 14, 2004, and uso, the largest crude oil base in the United States, also settled the 05 contract on the same day.

With so many long positions in hand, BOC can't make physical delivery (because of the design of crude oil treasure rules, customers can't make physical delivery, so BOC must close the position when the contract expires in 2005, even if the price is lower, otherwise the risk will be borne by BOC itself), and it won't move until the 20th. It is important to know that the later the trading volume is, the less the price will be, and the position of BOC alone will impact many prices.

The loophole that bulls have to close their positions when they expire gives capitalists the opportunity to harvest investors. I was smashed in the last two hours, but I had to win the 05 contract at such a low price, which led to the customer's leek being uprooted, not only the principal was not returned, but also compensation. I'm afraid this is not the laughing stock of international capital.