"Boss, here's the analysis report. Pen | fun | pavilion www. ｂｉｑｕｇｅ。 info" Yarman walked in from the outside, handed a document to Lei Hao, and couldn't help but speak: "The federal funds rate in the United States has fallen normally, and it is now 0.7521%, a drop of 8 basis points. ”

"In other words, if Oasis Securities will be more distressed?" Lei Hao has a bad taste guess about Oasis Securities.

If a basis point is 1 million, 8 is 8 million, Oasis Securities is so distressed that they can't breathe now, but in fact, they can't accept such a huge amount of agreement principal.

A change of 0.0075% will lose the entire company, and no one who takes any risk will bet, Lei Hao has long been ready for the negotiations of Oasis Securities.

Rejecting an intention outside of a forward rate agreement, and then entering into a forward agreement based on the interest rate, may not be such a large principal, but if it is too small...... In the end, Lei Hao will still eat it, no matter how small the mosquito legs are, they are still meat.

"On May 1, the federal funds rate rose rapidly to 0.7705%, fell 8 basis points on the 24th today, and will still fall slightly tomorrow, that is, from the day after tomorrow, it has risen by about 0.0180%, 180 basis points, in a few days." Lei Hao estimated in his heart.

"The entire Oasis Securities is only worth 75 million, that is, the agreement principal of 416.6 billion will make Oasis Securities lose out."

"But it's impossible for them to sign such a big agreement principal contract, one or two hundred billion will be at the top, and I will sign some with others? It's better than nothing, the date is too close, it is equivalent to an ultra-short-term operation, others have a meeting, and the interest rate has begun to change. ”

"Also, unless it's a coincidence, who would have nothing to do with hedging hedging with hedging contracts? And...... This is pure earning, my funds are still on Keda's platform and have not been transferred back, and when I sign the agreement, I have to find a big institution to guarantee the money. ”

Lei Hao was right, before lunch, Oasis Securities' latest intention came over.

"100 billion agreement principal, I think this contract is okay." Yarman, who had remained in Lei Hao's office, had his eyes lit up.

The principal amount of the 100 billion agreement seems like a lot, but you have to think about it, this is a forward interest rate agreement, and what everyone hedges is the magnitude of the change in the interest rate.

When the trading day is infinitely closer to the definite date, the range of changes between the agreement rate and the reference rate is invisibly reduced.

For example, today is a trading day, the interest rate is 0.7521%, this interest rate is regarded as the agreement interest rate, and then tomorrow is directly regarded as the confirmation date, where can the interest rate change? Giving you 50 basis points is a big deal, right, 0.7571%? How much profit and loss is that? 5 million only.

With the high-risk contract that Lei Hao threw out earlier, and now seeing the figure of 100 billion, Yarman actually has a kind and reassuring feeling, and he is also stunned.

"But we need to concede 10 basis points." Lei Hao shook his head.

"Interest rates are falling, we can actually talk about it." Leo said: "Smooth out 10 basis points, it's not difficult, give me a day, I promise to do it." ”

"yes, I can do that too." Yarman almost patted his chest and spoke.

"That's not their bottom line." Lei Hao looked at the content of the agreement, but in his mind began to compare these data with future information, "Give them some pressure, there will be unexpected gains." ”

"Don't worry, I don't use Forest's money, LEI will find Keda or HSBC as a guarantee, and Forest will not be affected." Lei Hao added.

100 billion, if the interest rate changes by 180 basis points, that is, to earn 18 million, for Oasis Securities, it is already a nerve, but ...... Not enough.

"What a madman." Yarman complained in his heart, the profit and loss margin of millions of dollars is still disgusted? It's a nerve-wracking challenge for everyone.

"By the way, is the stock liquidated? According to the settlement rules of T+3 for U.S. stocks, we can't recover our funds until the 27th? Lei Hao looked at Leo again and asked.

"Yes, it's sold, LEI's CFD on the Keda platform is also clearing, and it's almost the 27th and 28th to let the funds flow into the Forest account, and when the time comes, ...... We are an institution with a valuation of more than 200 million. Leo couldn't help but burst into laughter at the sight of this.

Lei Hao immediately turned his gaze to Yarman, looking at the latter's wry expression, he felt a little inexplicably happy in his heart.

Do you think a profit or loss of a few million dollars is too risky? But we're going to have more than $100 million coming in the next few days, so it's not that Forest doesn't have money, it's that it's too rich, so rich that it needs more hedging protocols and more people to run the money.

"The principal of the agreement is 300 billion, and they will agree." Lei Hao gave a definite figure, and after a while, Oasis Securities bargained again.

"I don't accept the postponement of the confirmation date!"

"The settlement date will not be postponed either!"

"I don't accept a half-year term, I want a 12-month, one-year term!"

"Tell them that I can get a third-party agency to guarantee the cash payment, and they have to pledge it with shares!"

Again and again refused, adjusted again and again, and quoted again and again, Lei Hao slowly gave out his bottom line.

300 billion, 180 basis points, 54 million profit and loss, if everything goes well, Oasis Securities will lose 72% of its shares, and when the time comes, it will ...... After giving some money to buy the entire Oasis Securities and merge it with Forest, LEI has deeper roots in the U.S. market.

Oasis Securities and Forest are bitter rivals, and even this kind of big deal did not confirm the intention in person, and when the general direction was determined, the two sides began to send people to contact.

First of all, of course, it is to find an insurance company to guarantee this agreement, and then the qualification verification of both parties, Oasis Securities is to accept the way to mortgage the shares, Lei Hao is relatively simple, he will have a lot of cash flow in the next few days, and he will pay some money to find Keda to guarantee it, and the insurance company immediately accepted it.

In a whole day, Lei Hao has seen the process of off-site agreements, accumulated some experience, and by the way, he also understood one thing: it is impossible for him to handle this kind of thing alone.

I was busy until the evening, and the agreement was signed under the guarantee of the insurance company, and after the words were written, I went through some processes tomorrow, and the forward interest rate agreement was fully established.

The trading date is April 25, and the agreed interest rate is the U.S. federal funds rate announced on April 25, after deducting the equivalent amount of 1 million, and the determination date is May 1, that is, the reference rate is the U.S. federal funds rate on May 1, and the settlement date is May 5, and the agreement principal is 300 billion.

It can be said that this agreement can not be called a forward word anywhere except for the annual interest calculation time, and the trading day, the confirmation date, and the settlement date are almost crowded together, which is simply an over-the-counter forward interest rate futures agreement!

"I finally signed an agreement with them, although I was a little tired, but the feeling of a white wolf with empty gloves...... It's still pretty good. Looking at the various terms of the contract, Lei Hao breathed a sigh of relief and was a little imaginative.

If you come to a few Oasis Securities stupid hats every day, maybe you will soon become the richest man in the world. (To be continued.) )