Treasury bond futures refer to the method of treasury bond derivative trading in which the buying and selling price is predetermined through an organized trading venue and the money and bonds are delivered within a specific time in the future.

Treasury bond futures are financial futures and are a kind of high-level financial derivative instruments.

It first appeared in the context of the instability of the US financial market in the 70s of the 20th century, in order to meet the needs of investors to avoid interest rate risk.

What Zhao Jiangchuan wants to buy is the 92 (3) Treasury Bond 06 Settlement Treasury Bond Futures Contract, a standardized contract in the futures market.

Corresponding to the issuance in 1992 of the three-year treasury bills due in June 1995, the total amount of the bonds issued was 24 billion yuan.

Its redemption method is a coupon rate of 9.5% plus a hedging discount.

Due to the uncertainty of hedging discounts, it is determined that the product has a certain speculative value in the futures market and has become the hottest speculation material in the futures market.

The resulting 323 case also became the "Bahrain Incident" in the history of Huaguo Securities, and the Financial Times called February 23, 1995 the darkest day in the history of Huaguo Securities.

Zhao Jiangchuan, as a generation of financial giants, is naturally very clear about this period of history, or as long as he has been mixed in the financial market, there are few people who do not know about the major events in this history.

According to Zhao Jiangchuan's previous plan, he only needs to register multiple accounts with different identities, and he can unknowingly flow funds into the treasury bond market, and then sit back and wait for the money to be collected.

In that way, mixed in the countless transaction data, he will not be discovered by others.

However, the transaction method of only filling out the declaration form disrupted Zhao Jiangchuan's plan, and he had never really realized the image of the time difference before.

Treasury bond futures are not comparable to stocks, and a treasury bond contract costs almost 20,000 margins.

20,000 yuan is a lot of money for many people, so retail investors who trade in the sales department often buy one or two hands.

If he smashes hundreds of thousands of dollars into it at once, he will definitely be very eye-catching in the sales department.

The per capita income is only a few thousand yuan a year, and hundreds of thousands of dollars is money that many people can't save in a lifetime, which is definitely a huge amount of money.

Taking more than 100,000 to open seven or eight treasury bond futures at a time can be regarded as a big deal in a small city like Ludao City, and it is not clear that the son of a big man will be regarded as having inside information.

In the early '90s, people invested in a variety of ways.

Listen to the gossip to buy and sell, buy casually, or relatives and friends buy and buy together, and there are many people who stay in the business hall, waiting for those legendary big families to follow and buy together.

As for real fundamental analysis, technical analysis, only very few people have heard of it.

Zhao Jiangchuan was a little worried.

It's nothing for someone to follow the trend and buy, and Ludao is not a big place like the magic capital, even if the people in the sales department buy together, it is estimated that it will not have much impact on the market.

The most troublesome thing is that after making money, under the geometric rate of profit, there is no doubt that it will be pushed to the cusp.

Not surprisingly, by that time, everyone will know that Wanbang Sales Department has made a fortune, and then his appearance, age, and identity may be picked up.

The power of uncles and aunts can never be underestimated, and the masses in CY District represent the ultimate power of aunts.

Once the master, the stock god, and this useless hat are around, then don't think about stopping in the future.

Zhao Jiangchuan had to consider these possible problems, it was pitiful to be able to do it all over again, but it didn't mean that other people were brainless NPCs, and the results caused by his every move were the most affected by himself.

Just when Zhao Jiangchuan was thinking about what to do to have no worries, he didn't notice that a middle-aged man in a suit and glasses was observing him not far from him.

Zhang Hua is a native of eastern Zhejiang, in the early years in eastern Zhejiang, operating a leather business, out of the distance, seen the world, the business later became bigger and bigger and saved a lot of money.

But human greed is endless, and after Zhang Hua came into contact with the financial market by chance, he was deeply attracted by the crazy profiteering.

However, the truth is not as easy as Zhang Hua thought, it is completely different from doing business, whether it is stocks or futures, it seems that there are no rules and experience at all.

No matter how much time and energy Zhang Hua wastes to sum up his experience, the market always seems to be working against him.

Every time he buys a stock that he likes, it falls, and when he can't bear to sell it at a loss, the price rises again.

It's not that buying stocks is investing in the future prospects of listed companies, but the stocks he buys, the company is very profitable, but the stock price is not rising.

This made Zhang Hua wonder if someone had taken a fancy to the money in his hand and deliberately set him up, otherwise it would have been such a coincidence.

After more than a year of continuous losses, in all kinds of news that is difficult to distinguish between true and false, Zhang Hua really has no confidence in making stocks anymore.

Under the introduction of a friend, Zhang Hua came into contact with the futures market that he felt would definitely make money.

Because when Zhang Hua was in the leather business, he knew the origin of many commodities, processing and sales and the cycle of the industry.

Even the cost price, sales price, and price difference of some commodities, he also knows a rough idea.

However, the final result was difficult for Zhang Hua to accept, even if he knew all the information about trading commodity contracts, he still couldn't make money in the market.

For example, he is most familiar with leather, he knows all the various processes of leather, the cost price, the off-season and peak season of various tanneries, the sales process of leather shoes and leather clothing, and so on.

He knew all these things.

But in the end, because I know too much, I lose more than those who do it blindly.

Because, a person who doesn't understand anything loses a lot and can't stand it and runs away, he knows in his heart where the bottom line or peak of the market price is, and has been waiting for the turnaround he needs.

But the market seems to be like a cousin, testing Zhang Hua's bottom line again and again, and every time he can make money from his pocket just right, and even scold him for useless things again.

Zhang Hua has always wondered why he can theoretically make half of the trade, but when he comes to him, it has become a business that does not make money.

It wasn't until he overheard a friend talking to him about the gambling table that Zhang Hua realized that he had gone astray.

In casinos, there are always a few gamblers who can make money, but casinos never lose money, and these markets are not the same as casinos.

Zhang Hua is a businessman who came over with strong winds and waves, and after realizing that he was on the wrong path, he immediately stopped trading in the market.

It was only then that he realized that in addition to losing money in the market in the past two years, a lot of money was wasted in commissions and various fees in trading.

The people of eastern Zhejiang have been the hometown of merchants since ancient times, and Zhang Hua also has some unique shrewdness of the people of eastern Zhejiang, and after realizing that the only thing that can really make money is commissions, he will pay attention to other people.

What he earns in the market is floating profits, and if he can help others provide a place to trade, he will make real money.

Soon, Zhang Hua felt that he had figured it out, and he began to lobby some of his former business partners to make money in partnership.

Zhang Hua will definitely not be able to get a serious securities company, and it is impossible for a private person to handle all kinds of formalities and licenses.

But it doesn't matter, if a regular securities company wants to buy and sell stocks or futures, it needs enough capital, but not everyone has enough money to do it.

With many years of experience in business, the shrewd Zhang Hua has paid attention to this aspect, and he uses the form of advance funds to help those who want to trade stock futures.

Those who want to buy and sell can buy and sell with him with only a small amount of money.

In this way, Zhang Hua can justifiably extract high commissions, and those who trade in advance funds with him can only pinch their noses and admit it.

Once the client's funds are lost to the warning line, according to the agreement, Zhang Hua has the right to forcibly sell their positions.