"Huh? President Zhang, is there a difficulty? Tang Bao saw that Zhang Dehui did not respond for a long time, his brows couldn't help frowning slightly, and he asked in a low voice.

This.

He mobilized $5 billion to enter Singapore, but he was aiming at the huge OTC market, and if he could not find a counterparty, I am afraid that some of the funds would be idle.

"No, no problem. Many financial institutions are full of confidence in the continued rise of the Japanese stock market, and Mr. Tang is bearish on the Nikkei futures index, and it is not difficult to find a counterparty. In fact, many Japanese insurance companies, banks, etc. are very willing to sell Nikkei put options in large quantities! Zhang Dehui explained.

"Oh?"

Tang Bao's face showed a look of surprise. Japanese insurance companies and banks are selling Nikkei put options in large numbers, and he didn't get any news.

In fact.

This is no wonder that Tang Bao is unheard of, because most of these transactions are concluded in the OTC market, which is highly private, and it is difficult for the outside world to find out unless it is disclosed by the transaction participants.

"Huh......" Tang Bao adjusted his mood and pretended to be calm, "President Zhang, do you mean that Nikkei put options have already appeared in the market?" ”

"Of course." Zhang Dehui replied as a matter of course. With the continuous development of the financial market and the emergence of various innovative financial derivatives, he felt that there was no problem with the emergence of Nikkei put warrants.

But.

Tang Bao was shocked by this news, and couldn't help but think more, could it be that European and American financial predators had already made a secret layout for the Japanese stock market. "President Zhang, do you know which bank was the first to launch Nikkei put options, and which financial institutions are now most involved in Nikkei put options?"

Hear the words.

Zhang Dehui couldn't help frowning, and muttered: "I don't remember who first recommended the Nikkei put option, anyway, it was a VAM agreement signed by Bank of America and Japanese insurance companies and banks." However, the most enthusiastic about Nikkei put options should be Citibank, Salomon Brothers and Goldman Sachs, with HSBC and UBS also involved...... In addition, there should be many financial institutions involved. But I don't know exactly who they are. ”

"Citigroup, Salomon Brothers, Goldman Sachs, HSBC ......" Tang Bao couldn't help but groan.

This time.

Wang Shuo, who had been sitting next to him, said loudly: "Well, Mr. Tang, I am extremely concerned about the Japanese market, but I know better. As far as I know, the Nikkei put option was probably developed by Morgan Stanley and Salomon Brothers more than a year ago, and then a group of U.S. investment banks followed suit and signed VAM agreements with Japanese financial institutions. At the time, Nikkei put options were a completely new and unfamiliar financial exhibit. However, it was soon sought after by Japanese insurance companies. ”

"Morgan Stanley and Brother Solomon?"

"Yes, that's them. These two investment banks should have signed the most Nikkei put option agreements! However, due to the continuous surge in the Japanese stock market, the Nikkei put options purchased were difficult to execute due to the sharp rise in the Nikkei index, which caused the participating investment banks to lose a lot of option premiums, and some investment banks that followed the trend immediately withdrew! Wang Shuo patiently explained.

Scold.

Seeing Tang Bao's puzzled eyes, Wang Shuo couldn't help but explain with a wry smile, "It's not a secret, at the beginning, I was also one of the followers!" Wang Shuo is very optimistic about the prospects of this Nikkei put option. Unfortunately, the Nikkei continued to soar, and he lost tens of millions of dollars as a result, and the headquarters immediately forced him to terminate the purchase of Nikkei put options.

Well.

Tang Bao nodded in understanding. The Nikkei soared. The Nikkei put option purchased by Wang Shuo lost its value, which is equivalent to waste paper, although the loss is controllable, it is only the option premium. But not everyone can afford it. Especially when the senior management of the Development Bank of Singapore is not optimistic about Wang Shuo's prediction, it is not surprising that there will be losses and will be ordered to withdraw from investment.

But.

also blamed Wang Shuo for being too anxious. The timing was not right.

"Phew, I'm going to report to Mr. Tang that I've repurchased about $1 billion worth of Nikkei put options......"

Tang Bao waved his hand to stop Wang Shuo from continuing to explain, and said with a smile: "Since I dare to entrust you with the management of the funds, it is naturally up to you to decide. ”

See here.

Zhang Dehui's eyelids couldn't help jumping slightly, and he thought secretly, "This world-class rich man actually trusts Wang Shuo so much!" Could it be ......" shook his head vigorously, clearing the distractions from his mind.

Now, the most important thing he should think about is how to help Tang Bao find a suitable counterparty and complete this transaction. The banks that can design similar Nikkei put options are not the only ones that can be designed with the Development Bank of Singapore. With the Singapore branches of HSBC, Citigroup and Morgan Stanley, which are familiar with Nikkei put options and have deep relationships with Japanese insurers, any one of them is a serious threat.

"Mr. Tang, please rest assured, we will find the counterparty you need within a month and draw up a contract that is beneficial to you." Zhang Dehui assured with a smile. He also hopes that through this pleasant cooperation, he can establish a long-term strategic cooperative relationship with Tang Bao.

Well.

Tang Bao nodded and smiled, "...... in terms of guarantee fees"

"Oh. There's no need to worry! Since the other party is involved, the other party may not necessarily recognize the credit guarantee of our bank, and if Mr. Tang entrusts our Singapore Development Bank to sign the agreement, then on the surface our bank is the party to the VAM agreement and cannot perform the guarantee liability on its own. You may need to find another international bank as a guarantor! Zhang Dehui explained with a smile.

Although he did not say it openly, Zhang Dehui's attitude was already very obvious, that is, he was not willing to provide guarantees for the transaction between the two parties.

Zhang Dehui seems to have a fiery personality and no brains. However, he can sit in the position of chief executive of the Development Bank of Singapore, which naturally has its merits. Actually, he's shrewd!

Although he is not optimistic about Tang Bao's investment in Nikkei put options, he will not take it lightly, not afraid of 10,000, just in case, in case Tang Bao wins the bet, the Nikkei index suddenly plummets, and the party who sells Nikkei put options will definitely lose blood to vomit blood, and it is very likely that it will not be able to perform normally, and the institution as a guarantee must perform on its behalf at that time. As a result, DBS could become Tang Bao's direct counterparty if it provided a guarantee for the transaction.

Looking back at Tang Bao's past achievements, I dare not say that he has won all battles, but there are almost no failures in the major operations he personally intervened.

In light of this.

Zhang Dehui became particularly cautious. With a plan in mind, they are only responsible for brokering the transaction, and the transaction guarantee is the issue, and he will try to bring in a fourth party.

"It's good!"

Tang Bao smiled and didn't say much.

……

The meeting between the two sides did not end until about 10 o'clock in the evening. During the event, Teo also touched on a number of other important topics, including the investment in Phoenix Investment Group, the joint creation of an investment fund between Phoenix Investment Group and Development Bank of Singapore, and the strengthening of strategic cooperation between East West Bank and Development Bank of Singapore. Obviously, Zhang Dehui's willingness to strengthen cooperation with Tang Bao's companies is very obvious.

Tang Bao also understands Zhang's approach, and the development bank's strong influence is limited to South Asia. It is not influential in the United States at all, and it happens that Tang Bao's Phoenix Investment Group and East West Bank have a solid foundation and influence in the United States that cannot be ignored, and it is normal for him to want to expand the American market through cooperation.

In fact, since Zhang Dehui took office, the Development Bank of Singapore has been working hard to carry out an international expansion strategy. However, the results achieved have been very limited.

Tang Bao did not shy away from the topic of cooperation. Of course, he will not agree to it casually, in his opinion, only win-win cooperation can last for a long time.

The cooperation proposed by Zhang Dehui, Tang Bao will certainly not lose anything. But the gains are limited. On the other hand, the Development Bank of Singapore has benefited greatly.

This kind of cooperation between pay and gain is obviously asymmetrical, Tang Bao naturally will not be stupid to agree.

So.

Tang Bao and Zhang Dehui talked a lot, but did not reach a cooperation agreement.

After the meeting, Zhang Dehui and Wang Shuo left the hotel. But about half an hour later. Wang Shuo turned back one by one.

"Mr. Tang!"

Wang Shuo looked at Tang Bao sitting in the hall and greeted him with a smile. Although Tang Bao clearly said that the entrusted funds were all entrusted to him to take care of it without asking for instructions. But Wang Shuo is also a person with a clear mind. Knowing that Tang Bao is the famous "stock god Tang" on Wall Street, he naturally does not want to miss this once-in-a-lifetime opportunity.

"Sit."

Tang Bao pointed to the vacant seat next to him and gestured. It seems that he was not surprised by Wang Shuo's return.

After taking his seat, Wang Shuo organized the language in his heart a little, and then said, "Mr. Tang, thank you for your selfless trust in me. ”

"That's when you showed me the ability to recognize." Tang Bao smiled lightly. "Why, suddenly turning back, is it because the investment has encountered a problem?"

"Well, not really. I just bought $1 billion worth of Nikkei put options in the OTC market, the futures market, and I'm still ......waiting," Wang Shuo replied. Then, he explained: "I came back to tell Mr. Tang that if you plan to invest in Nikkei put options, you don't necessarily need to directly reach a VAM agreement with the bullish investors. You can buy Nikkei put options with the help of investment banks such as Morgan Stanley and Salomon Brothers. ”

"Aren't they firmly bearish on the Japanese stock market and will sell Nikkei put options?" Tang Bao was surprised.

"Oh, it's not necessarily true that the Japanese stock market is firmly down. Perhaps, they do not need to judge the direction of the Japanese stock market at all, because no matter whether the Japanese stock market rises or falls, they will not lose money, because they are doing a business that is sure to make money and not lose money. Wang Shuo said with a smile.

"What do you say?" Tang Bao came to be interested.

Thereupon.

Wang Shuo did not hide it, and told the secret 1510, "Morgan Stanley and Salomon Brothers have signed a staggering amount of VAM agreements with many Japanese companies, that is, Nikkei put options. When the Nikkei index rises, Japanese companies make money, which means that Morgan Stanley and Salomon Brothers, the other side of the bet, will lose money, although they only lose the premium, but they can't hold up the large amount. Under normal circumstances, Morgan Stanley and Salomon Brothers would have lost a lot as the Nikkei index continued to rise, but in fact, not only did they not lose a penny, but they gained a lot. ”

"How is this possible?" Tang Bao was surprised.

"Oh, it's incredible, but it's true. It just shows that these two investment banks are very clever! Wang Shuo said with emotion.

"In fact, it is very simple, Morgan Stanley and Salomon Brothers bought a large number of Nikkei put options did not hold them for a long time, but sold them to other investors at a high price to transfer their own risks. As a simple example, they bought a Nikkei put option from a Japanese company for $100, and then shorted the Japanese economy and speculated to arouse investors' high spirits, and then they sold the Nikkei put option for $200. The market is full of voices singing about the Japanese stock market, and Nikkei put options are naturally not worried. In the process, they earn a $100 spread, and the next rise or fall of the Nikkei will not affect their profits. Wang Shuo explained to Tang Bao in detail.

I see.

Wang Shuo explained this, and Tang Bao understood.

"What do you mean...... Let me buy Nikkei put options directly from Morgan Stanley and Salomon Brothers? A smile appeared on the corner of Tang Bao's mouth. (To be continued......)