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- The biggest difference between futures trading and China's stock market and ordinary commodity market is that it can buy short and sell short.
The so-called empty means "credit". I didn¡¯t have anything in hand, but I wanted to participate in the transaction, so I borrowed money to buy and borrowed things to sell.
In crude oil futures, short selling means wanting to sell crude oil, so you borrow crude oil and sell it. It doesn¡¯t matter whether the short seller itself has crude oil or not, and no one cares.
However, when the contract expires, you will have to pay back whatever you borrowed.
Those who short-sold crude oil must return the crude oil.
For financial companies, as long as they buy crude oil before the contract expires, they can close the position and earn or lose the price difference between the purchase and sale.
¡°The financial operations department of industrial producers such as oil companies can also have the company¡¯s crude oil transported to the delivery warehouse, which is considered to be really sold.
Precisely because of this characteristic of futures, traders like Milton the Vulture don¡¯t have to worry about how much crude oil Dahua Industrial or Pan Asia Fund has. He can continue to sell short as long as he has funds.
In the competition for funds, because Hideto Hirano never waited for the allies and faced the siege of many organizations, he was already stretched thin.
Milton waited for an opportunity and sold 10,000 lots of crude oil in one go.
If 10 million barrels of spot crude oil is loaded onto a ship, it would require five of the largest 300,000-ton oil tankers, and it would even be difficult to berth normally in most ports in the world.
However, the futures market only requires one document to complete the transaction, and the transaction price has reached 160 million U.S. dollars. Using 10 times leverage, it will cost 16 million U.S. dollars. As for the higher leverage factor, based on Hirano Hideto's current In this state, he would not dare to do it, and the senior traders who ignored this matter would not allow him to really increase the leverage.
Hirano Hidechi had a splitting headache and didn¡¯t know what to do.
The US$2 billion on hand has almost been spent, and this is also his maximum amount.
"Give up now. Sumitomo Corporation, which has done so well by going long, will lose hundreds of millions of dollars at least. If the market reaction is bad, it is not surprising that it will lose 1 billion U.S. dollars."
"I want it." Just when Hideto Hirano was about to close his eyes and die, a trader suddenly spoke up and saved him.
Milton was a little surprised, but he still made the deal according to the rules.
Hirano Hidechi twisted his body and got out of the trading pool.
The newspaper delivery boy had been waiting there and shouted in his ear: "Ito Trading Company has decided to join."
¡°The trader just now is from Ito Trading Company?¡±
"Yes, Ito Trading Company's execution trader." An execution trader is an intermediary trader who executes the trading requirements of one or more clients. After receiving the client's order, the execution trader completes the transaction in the trading pool. Once the order is confirmed by the customer, the process is over.
Such a trader doesn¡¯t matter whose family he belongs to, and he is still a trader of whose family he carries out his orders.
Hirano Hidechi was convinced, but he couldn't help but murmur: Did these guys decide to enter the market when they saw that the price of crude oil was very low? In this way, the risk is all borne by us. We are really selfish guys. If Dahua Industrial closes its position now, they might be able to make some profits as well.
In the past year, crude oil prices have rarely fluctuated above $2. Therefore, in the subconscious mind of many traders, $2 is definitely a signal to enter the market.
If the fundamentals of crude oil do not change, this idea is not too outrageous. After all, Pan Asia funds will always take profits.
Having said that, Hideto Hirano is still very grateful to Ito Trading Co., Ltd. for its intervention. The market is a very strange creature. Before something actually happens, the so-called prediction will always be wrong, and whenever this situation occurs, there is not enough When taking precautions, the results are often devastating. If the price of crude oil drops by another dollar or two, Sumitomo Corporation's guarantee will not be enough, and the tight string may break at some point.
"Do you know how much money they have prepared?"
"I don't know, let Mr. Nishioka Shigeru tell you." The newspaper delivery boy roared and gave up his position.
Nishioka Shigeru's face full of joy appeared: "Mr. Hirano, we have received authorization from the senior management of the trading company and will fight side by side with Sumitomo Trading Company."
"How much capital do you have?" Hideto Hirano almost shouted into his ear. At the same time, he also said something in his mind: I have not been authorized by the senior management of Sumitomo Trading Company. My shoulders can only touch your thighs. . "
Nishioka Shigeru said in a majestic voice: "The funds are enough to restore Hirano-kun's glory."
That is??Sumitomo Trading Company has almost used it now.
"That's great." Hirano Hidechi smiled. With another 2 billion US dollars, whether it is using 20 times leverage or 10 times leverage, maybe it can really last. As oil prices fall, the market gradually digests the impact of the bad news. Once other companies switch to long positions in order to make profits, they are saved.
Nishioka Shigeru then asked: "How much authorization do you have left?"
Hirano Hidechi said: I don¡¯t even have the authorization of US$100 million.
He did not answer immediately, but Nishioka Shigeru continued loudly: "Your Excellency Itosai said that Ito Trading Company will help Sumitomo Trading Company achieve the final victory. Please continue to work hard"
Even in the chaotic environment, Hirano Hideto heard the implication that Ito Trading Company would not charge forward.
"Thank you, Mr. Itosai." In order to avoid showing a disappointed expression, Hirano Hidetomo returned to the trading pool after saying this.
Nishioka Shigeru smiled and went back.
This is his mission, to tell Hideto Hirano that if Sumitomo Corporation wants to take advantage of it, it is impossible. Ito Corporation will only help, but will not take the lead.
A minute later, Hideto Hirano got to the edge of the trading pool again, called the newspaper deliveryman, and said sternly: "Tell the people above that if you don't give me more authorization, Ito Trading Company will stop doing long, and the consequences will be They bear it.¡±
The newspaper delivery boy was frightened and asked: "Who should I tell?"
"No matter who it is, tell the guys in the office to find senior traders. I've done everything I can. If they don't show up, everyone will die." Financial markets are always result-oriented, like Hirano Hidetomo If his approach results in a loss, he will definitely be called a rogue trader, but if the final result is a profit, he may have a reputation as a genius or bold and careful.
Time is precious, so the newspaper delivery boy reluctantly returned to his seat and told Hidetoshi Hirano¡¯s request.
The representatives at the seats naturally did not dare to make a decision and called back.
During this period, Hideto Hirano was naturally unable to come up with funds. He relied solely on Ito Trading Co. to maintain the oil price above $16.
" However, Hideto Hirano looked at the trader's embarrassed look and knew that the situation was not optimistic. If Sumitomo Corporation did not take action, Ito Corporation would never wait for its US$2 billion to be exhausted.
The senior traders upstairs should also be in a dilemma.
?Choose one between violation of regulations and huge losses? For any trader, this is the last scene they want to dream about, and it can definitely scare people awake from the gap between two beauties.
Soon, the seat representative ended the call, ran over directly, called Hideto Hirano, and said: "I didn't find two senior traders."
This is different from Hideto Hirano¡¯s script. He frowned and said, ¡°Are these two guys would rather lose all the company¡¯s funds than come forward?¡±
"I have not received any instructions." The seat representative shouted in Japanese word for word: "Hirano-kun, I can only rely on you now."
¡°I have no funds, it¡¯s useless.¡±
"You still have funds that have not been used up."
"How could it be possible? I calculated it several times" Hidetomo Hirano paused.
The seat representative showed an expression that you know, and bowed: "Please continue your efforts, Mr. Hirano. Until we find a senior trader, we will all obey your orders."
Hirano Hidetomo was stunned. He was still a little too inexperienced. How could two senior traders fall into such a simple contradictory scenario? They silently increased Hirano Hidetomo's financial authority, and then asked the die-hard cronies below to deny him. existence, so Hidetoshi Hirano once again became a puppet on the front stage.
¡°Moreover, the danger of him continuing to do so is even greater.
Although the funds were raised by an unknown senior trader, the headquarters did not admit it. In Japanese-style companies, Hideto Hirano¡¯s use of money in this way is absolutely not allowed.
The nightmare came back to Hidetoshi Hirano.
"Are these guys going to take me overseas?" The competition among Japanese trading companies is extremely cruel. If you make a mistake, you will be transferred to other places or lower branches. Dahua Industrial has also learned this consortium style. The organizational method has achieved remarkable results. Although employees are rarely fired, and even the basic salary and insurance premiums are reduced, but for employees who have finally entered a large company, there are still a few people who are willing to spend their time in a small, dark room in an out-of-town branch. lifetime.
Getting a salary only satisfies a person¡¯s own survival needs. As a member of society, people also have the need to realize their self-worth.You will not give up your future unless you have to.
This is especially true for a great young man like Hirano Hidetomo.
"Do you want to continue?" The traders of Ito Trading Company received the new instructions. While they were busy trading, they crowded around Hideto Hirano and yelled.
Like Hideto Hirano¡¯s previous strategy, he also wanted to divert the traders around him.
Hirano Hidechi smiled bitterly, put aside the thought of shrinking, and raised his hand.
A few seconds later, a $50 million contract was finalized, and a dozen seconds later, the office confirmed it.
The funding limit has indeed been increased.
Hirano Hidetomo doesn¡¯t know whether he should be happy or not. His goal has been achieved, but the process of achieving it makes him feel sad. His irresponsible superiors make you unable to even scold him.
Oil prices continue to remain stable between US$16 and US$16 and a half, but in order to find this price, the entire London International Crude Oil Exchange completed almost the same number of transactions as a normal week.
Tian Dongliang was even more dizzy by the transactions involving hundreds of millions of dollars. It was not until the prices gradually stabilized that he asked repeatedly: "Did Dahua make a profit?"
Liu Yi smiled with a nose that was not a nose and eyes that were not eyes and said: "Of course I made a profit."
"In less than an hour, you made a lot of money, right?" Tian Dongliang didn't know the share allocation of the Pan-Asia Fund, nor did he know about the early position building. Even so, he thought to himself that as long as Dahua Industrial has more than 10 shares, It is feared that it will earn more than 1 billion U.S. dollars. With Dahua Industrial's enthusiasm, it may even have more than 10 shares.
Liu Yi smiled even happier, raised his chin, and said: "It's impossible for an hour. Just keep watching. There are still good shows."
"What else? Are you still not quitting?" Tian Dongliang found it unbelievable. Then he thought about it and said in surprise: "Are you going to backhand and go long?"
If you can close the position quietly and then go long, then as the power of the short side weakens and the power of the long side increases, you can make a lot of money by going long backhand.
However, with Pan Asia Fund¡¯s plate, it was too difficult to backhand. Liu Yi even said nonchalantly: ¡°Director Su has prepared more than just that. The main course hasn¡¯t been served yet.¡±
His willingness to reveal the news to Tian Dongliang also requires him to roughly resolve the entire process and write a complete report. For Su Cheng, Tian Dongliang is a political insurance he bought, and it is a low-cost, high-compensation type with bonuses and added value. of.
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