Investors may start stock index futures account application Monday

19:37, February 21, 2010      

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Investors can apply for accounts to trade stock index futures from 9:00 a.m. Monday, the Shanghai-based China Financial Futures Exchange (CFFE) said Sunday in a statement on its website.

Investors who want to trade stock index futures must have a minimum 500,000 yuan (73,206 U.S. dollars) to open an account, according to the CFFE.

The CFFE released specific trading rules for index futures Saturday on its website.

China's securities regulator on Jan. 12 approved the CFFE to trade stock index futures.

Stock index futures are an agreement to buy or sell an index at a certain price on an agreed date. Index futures will give investors a mechanism to profit from declines in stock prices, allow them to hedge risks and help ease market fluctuations.

China's A-share stock bourses in Shanghai and Shenzhen will resume trade Monday. They stayed closed during the one-week Spring Festival, the most important Chinese traditional festival for family reunions.

Source: Xinhua
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