"Senior brother, the account is opened in the Hong Kong market, deposits and withdrawals are in Hong Kong dollars, such as the transaction process involves US dollars, pounds, Japanese yen, will be converted into the corresponding currency by the Hong Kong side according to the exchange rate of the international market on the same day, and the settlement will be based on the exchange rate after closing, all Hong Kong futures are the same, the key is currently the deposit and withdrawal. I invite you to the meeting today to ask you to comment on this article as a representative of a key account. ”

Chang Tianhao asked: "How is the exchange rate calculated?"

"The Hong Kong account opened by the customer corresponds to the person, and according to the specified exchange rate, he will be helped to convert the RMB in the domestic futures account into Hong Kong dollars, and if he does not want to trade or has profits to withdraw, the Southern Company will be responsible for converting Hong Kong dollars into RMB and converting them back. Gao Yang muttered, "But you also know that foreign exchange involves control and exchange, and you also have to deal with Hong Kong's anti-money laundering regulations, so the exchange rate of RMB to Hong Kong dollar will not be very friendly - you have to use the black market rate." ”

Hearing the black market price, Chang Tianhao knew it in his heart.

During this period, public opinion was hyping up the spread of the financial crisis and the domestic economic depression, and in Guangzhou and Shenzhen, which are close to Hong Kong, the black market price of the RMB against the US dollar has risen to 9.5:1, and the official exchange rate is still 8.27:1, which has caused a huge price difference.

At this time, in order to defend the status of the Hong Kong dollar, the Hong Kong Monetary Authority stubbornly locked in the exchange rate of the Hong Kong dollar at 7.85:1 US dollars, and a large number of scalpers flocked to try to make the exchange difference between black and white.

Why did China Southern Futures not do this project sooner or later? It is closely related to the point in time.

Chang Tianhao speculated that a third party closely related to the Southern Company had a large amount of Hong Kong dollar foreign exchange in its hands and was stranded in Hong Kong, and this money was not willing to be sold back to the domestic foreign exchange authorities at the official price, and did not dare to go to the black market to select scalpers or underground money banks to conduct a large number of transactions - this would trigger the bank's anti-money laundering and foreign exchange supervision.

To confirm this speculation, he calmly asked: "Is the repatriation of Hong Kong dollars into renminbi only based on the official exchange rate?"

Gao Yang nodded and explained: "After all, there is a risk and flow among the people, and the difference must be eaten by them." ”

Got it!

It's exactly the same as my guess: someone in Shenzhen wants to make money through foreign exchange spreads, Taihe wants to develop business, and Southern Futures wants to increase performance, and all parties hit it off.

He pondered for a moment and said, "Senior brother, since you asked me, can I make an immature suggestion?"

"Okay! Why not, please participate in the meeting is to listen to the customer's opinion, we want to be good, the customer does not recognize absolutely not. ”

"There is nothing else to do, but the deposit and withdrawal section, unless the customer asks for this operation, I feel a little inappropriate from my position as a pure customer......" As soon as Chang Tianhao spoke, although the others were surprised, they still listened to him very politely. They all know that the customer in front of them is not only the boss's fellow student, but also the company's recently developed and talented customer, and they maintain a considerable degree of respect and do not look down on the other party because of their young age.

"The first insecurity is safety. The customer margin is protected by the national law in the brokerage company, and the bank custody is staring, compared with the previous misappropriation of customer margin, the behavior is much safer, and now the customer funds are withdrawn and converted into foreign exchange and injected into the Hong Kong account, and the security should be a question mark. I may be able to trust my brother and the company, but to put it bluntly, the company has no control over the account, and must go through Southern Futures and Taihe Futures, and even Taihe Bank. There are too many chains involved, and once there is a risk, even if we have no problem, it will be a disaster if there is a problem in other aspects......"

He pondered the words and said: "At that time, if the customer makes trouble, the risk of the sales department and even the person in charge is also very risky. ”

Gao Yang nodded subconsciously: This concern is very reasonable, someone said it during the internal discussion yesterday, and now the customer representative also thinks so, which shows that it is universal - the business that customers have concerns about is generally difficult to promote.

"The second defect is friction loss. I took note of the current black market price, which is about 15% higher than the official rate, and there are no bank charges involved in moving around. In other words, if the customer's funds go back and forth, the profit will be lost by 15% of the principal before it is obtained. I am reluctant to change my customer. Chang Tianhao smiled, "The problem of security risk and fixed loss of 15% of the principal can directly discourage people." ”

As soon as he finished saying this, someone next to him wanted to express his opinion, but Gao Yang waved his hand and forcibly stopped him.

"Senior brother, in this way, the RMB will go to sea, and the customer will directly own foreign exchange, and it will also be stored in the Hong Kong offshore market, which can be of great use in the future. In this world, it's easy for foreign exchange to come in, but it's hard to get out......"

Chang Tianhao smiled: "I believe that a small number of customers will have needs. The problem is that for most customers, what is the difference between the foreign exchange that cannot be freely transferred and the numbers on the analog disk? You say that it is foreign exchange, and the customer is worried that it is a short number, Guangdong is close to Hong Kong, and there may be a large demand for Hong Kong dollars, and we feel that the Hong Kong dollars here are not easy to use. ”

Gao Yang smiled all over his face: "It makes sense! According to the opinion of the junior brother, how to balance and solve the problem from the perspective of the customer?"

"The southern company must make money, I know that if he doesn't make money, he won't go to great lengths to toss this project, but in addition to eating the exchange difference, I think I can take the road of lending and eating interest!"

"Tell me about it. ”

"Let the customer use his assets in the futures company as collateral to issue Hong Kong dollar loans in Hong Kong accounts accordingly, and the ratio can be 1:1 for the convenience of calculation. If there is 1 million RMB in book assets, the Hong Kong side will put 1 million Hong Kong dollars into the customer's account, and the 1 million will be regarded as a loan to the customer in the south, which has two benefits:

First, the Hong Kong account charges loan interest, and the customer's margin account does not need to pay deposit interest, so it is a net interest margin;

Second, if the customer loses 100,000 Hong Kong dollars after the market closes and settles today, then the account will be reversed at the black market exchange rate according to the practice of daily mark-to-market and daily settlement, and the amount will be subtracted from its RMB margin account, and the 15% exchange difference still exists, but because it is only the difference in exchange, the customer's loss is relatively small and easy to accept......;

Chang Tianhao thought about it and added the third article: "The second article has additional benefits, customers can intuitively feel the changes in their assets like the internal disk, which is conducive to dispelling concerns, reducing risk costs, and stimulating trading enthusiasm." Of course, since it is a book asset collateral in exchange for the Hong Kong account quota, the asset must be pure cash, and the customer can no longer hold an in-market position. A national bank can be selected separately for custody, and the local business department will come forward to dock in a unified manner. Generally speaking, I think that the customers who are willing to participate in the project still trust the local sales department, not the Nanfang Company or Taihe Company, which are far away and out of reach......"

"That's a good point, junior brother, your words have helped me solve a big problem. Gao Yang stood up and cheered with a smile on his face, "The back waves of the Qianjiang River push the front waves, and the front waves die on the beach, for my brother, the front waves are really running out......

"Where is it, the senior brother has won the award, mainly because the senior brother can afford it, I dare to say a little immature opinion, let others there, how can I have the opportunity to speak?"

"You immediately contact the Southern Company to determine the specific interest rate. As soon as Gao Yang's voice fell, someone got up and went upstairs to make a call, and then he turned his head to look at Chang Tianhao, with a bit of eagerness in his words, "Senior brother, will you participate in this project?"

As soon as this sentence came out, everyone stared at Chang Tianhao: Say a thousand things and ten thousand, no matter how good the project is, someone must participate, if even a bold customer like Chang Tianhao does not dare to participate, then most of the project will not be launched.

Therefore, Chang Tianhao's statement is very important, after all, he is currently the only individual customer with considerable assets in the new century.