"Abolition should not be possible, but it is highly likely that more stringent restrictions and regulatory measures will be introduced. Perhaps, this time Japan's money collection operation will end early! Tang Bao said slowly.

"Well, since the Japanese government will not directly abolish the trading of Nikkei futures, then we should still have a chance to make money......" Legger's face showed hesitation, it is no wonder that he experienced the ease and pleasure of searching for wealth in the Japanese capital market, and the primitive greed and predatory nature of capital have long been completely stimulated, how can he be willing to stop easily. Legge was unwilling, neither were Cappus and his traders, and they were afraid that the international investors who attacked the Japanese stock market would not be willing to retreat.

"As long as the door is not completely closed, there will definitely be opportunities, but when restrictions and regulatory measures are introduced, the Nikkei futures market will inevitably be hit hard, and it will be difficult to make tens of billions of dollars in profits as before." Tang Bao said with a light smile.

"yes."

Legge replied with regret that they had plundered more than $188 billion in the futures market before, and if the earnings plummeted to hundreds of millions of dollars due to restrictions and regulations, it would obviously hit the interest of continuing to short Nikkei futures.

It's like a person who has just enjoyed a full Han feast, and after his appetite has been raised, he suddenly changes it to steamed buns and pickles, and it is difficult to continue to enjoy it with relish.

"Hoo ......"

Tang Bao exhaled slowly, he had the impression that the Japanese government had not introduced rescue measures, but the recent call for the rescue of the market by the mainstream media was very strong, and it was difficult for him to clearly grasp what the next thing would be. "In recent days, Tiger Fund, RTM Fund, Goldman Sachs, etc. have deliberately kept a low profile, and we are also waiting to see what happens...... If you don't have a good chance, just evacuate Japan! ”

"Actually, it doesn't hurt to withdraw from the Japanese market, and we can also go to the Singapore market to continue investing in Nikkei futures. Japan has been competing with the Singapore Financial Exchange since the first day of its launch. Compete for pricing power in Nikkei futures. If the blow is too harsh, it will undoubtedly push Nikkei futures investors to competitors, and I think the Japanese government will carefully consider this when introducing restrictions and regulatory measures! Legge answered.

"Well, that's true."

Tang Bao smiled and nodded, originally the Singapore Financial Exchange had a first-mover advantage over Nikkei futures varieties, and if Japan died, it would be equivalent to a cheap competitor.

The idea was correct, but unfortunately, Tang Bao ignored the complexities of Japanese politics.

As the downturn in Japan's stock market spreads, criticism of Nikkei futures trading has become increasingly sharp. Mainstream newspapers are attacking Nikkei futures, and calls for abolishing Nikkei futures trading and raising stock prices are getting louder.

It's no accident that the shouts are so loud! After all, in the relatively young Nikkei futures market, the participants in the stock market include large companies such as banks, insurance companies, securities companies and many listed companies, and small ones such as various funds, ordinary working white-collar workers, blue-collar workers, and even housewives, retired seniors, school students, etc., which can be described as national stock speculation. The sluggish stock market has harmed the interests of almost all strata of Japan.

So.

Japan's mainstream media almost one-sided hit Nikkei futures, shouting to raise stock prices. Only children who can scream can eat candy will not change anywhere.

If the Japanese government doesn't want to be abandoned by angry voters. It is inevitable to consider the mainstream "public opinion", and under the heavy pressure of public opinion, even if you know that it is wrong, you cannot ignore it.

In order to meet the needs of all parties "reduce stock index futures trading. to raise the stock price", under the guidance of the Ministry of Finance, the exchange soon introduced a series of restrictive measures, slamming the brakes on Nikkei futures.

The first is to significantly increase the margin level. The entrusted margin of Nikkei futures has been increased by 15% from 9%, and the trading margin has been increased by 15% from 6%, and many securities companies have been notified. Margin requirements must not be lowered privately and must be strictly followed.

The second is to levy a transaction tax, which is a transaction tax of 0.1/10,000 on Nikkei index futures trading.

The third is to shorten the trading time of Nikkei index futures, from 9 to 11 o'clock in the morning, shortening the trading time by 15 minutes; The afternoon trading time is shortened by 5 minutes from 13:10 to 15:10.

Fourth, the handling fee has been greatly increased, and the handling fee of Nikkei index futures has been increased from 4/10,000 to 8/10,000, which has directly doubled.

Fifth, the quotation range of Nikkei futures is narrowed and the market reveal time is extended to greatly compress the profit margins of fleeing trading.

Sixth, the arbitrage trading situation of members will be made public, and the total arbitrage trading volume of Yuan Hui will be announced to the market on a regular basis every day, and the daily and weekly arbitrage trading volume details of the top 15 clearing members will be announced.

Under the heavy blow, the trading volume of Nikkei futures fell rapidly.

Investors in the stock market immediately applauded and cheered, and some market analysts even concluded that the return of funds from Nikkei futures to the stock market, coupled with the government's attitude that it has made it clear that it will raise stock prices, will definitely drive a round of sharp rise in the stock market.

In fact.

The stock market did rebound, but unfortunately the magnitude of the rebound was not as large as investors expected, and it did not match the "skyrocket" at all.

After only four or five trading days of slow retracement, the Nikkei began to fall again, and the downturn in the stock market did not change.

On the other hand.

After the introduction of the six major control measures by the exchange, the average daily trading volume of Nikkei futures is not as terrifying as the peak in February and March, but the average daily trading volume is still more than 200,000 lots.

This time.

Investors in the stock market were immediately unhappy and began to accuse the government of being too lax and ineffective, and called for more drastic measures. There is a lot of momentum that will not be finished without destroying Nikkei futures.

Since the Japanese government has made a choice between the stock market and Nikkei futures, there is no reason to give up halfway. As a result, the margin level of Nikkei futures was further increased, the commission margin was increased from 15% to 20%, and the trading margin was increased from 15% to 18%.

The average daily trading volume of Nikkei futures fell in response, falling to a daily average of around 150,000 lots. However, the stock market slump has not improved.

on this.

Stock market investors are naturally dissatisfied.

Helpless.

The exchange raised the margin level twice in a row in a week, increasing the commission margin to 30% and the trading margin to 25%.

The strict restrictions on Nikkei futures have not changed the downturn in the stock market. But the Nikkei futures were literally abolished.

Hereunto.

The average daily volume of Nikkei futures has fallen to less than 50,000 lots, and the market has plummeted. The Singapore Financial Exchange knows how to seize the opportunity and takes advantage of the trend to introduce more preferential and loose measures, and investors in Nikkei futures have abandoned Japan and switched to the Singapore Financial Exchange, and the trading volume of Nikkei futures in Singapore has soared.

Then.

The Chicago Mercantile Exchange in the United States has also taken advantage of the trend to launch Nikkei futures, which, unlike Japan and Singapore, are denominated in US dollars.

……

"Well, are Japanese economic experts crazy, do they really want to kill Nikkei futures!" Legge exclaimed, looking at the latest newspaper.

"What's wrong again?" Tang Bao asked with a light smile.

"A Japanese economic expert said that the tax on Nikkei futures trading was too low, and suggested that the government raise the tax rate to 0.5 per 10,000. In the past three days, the average daily trading volume of Nikkei futures has only been more than 38,000 lots, and if the transaction tax is raised to 0.5/10,000, it is equivalent to directly killing Nikkei futures, which is no different from directly abolishing Nikkei futures. Legge said.

"Heh, the bullshit experts are really brain-dead!" Tang Bao smiled disdainfully, "However, as long as the Japanese government does not want to give up the pricing power of Nikkei futures to Singapore, it will not listen to the advice of this economic expert." No matter how hard you hit it now, you still have a spark left, and if even the last spark is extinguished, it will be difficult to pick it up again in the future. ”

Well.

Legge nodded in agreement.

"Boss, according to the current situation, it will be difficult for Nikkei futures to turn over in a short period of time. The Chicago Mercantile Exchange has just launched Nikkei futures with limited market share. Next, let's move on to Singapore? Legge looked at Tang Bao, who had a calm face, and asked.

Singapore......

Tang Bao did not rush to express his position, he knew that if he wanted to continue to short Nikkei futures, the Singapore Financial Exchange was the most suitable place. However, there is already Mrs. Annette in Singapore in command, and it is necessary to transfer all of them such as Legge over.

What's more, even if the Singapore Financial Exchange takes advantage of the situation to attract investors in Nikkei futures, the market size will not be comparable to that of Japan.

Rushing over with a large amount of money, it is difficult to use its hands and feet.

Weigh it up for a long time.

Tang Bao finally made a decision, "Hmm." You can take some of your people to Singapore; Rhett's Japanese is good, pick a few elites, stay in Japan directly, and continue to wait for opportunities in the futures market. As for the traders hired by Capus, bonuses will be given and disbanded on the spot! ”

"How do you allocate the funds?" Legge asked.

"Leave five billion dollars for Red, and the rest will be mobilized to Singapore; The funds on the Capooz side are sufficient and do not need to be allocated separately. Tang Bao said.

"Understood."

Legge nodded in response. Only $5 billion was left in Japan, indicating that Tang Bao had put Japan's futures market on the back burner.

This is also something that cannot be helped, and with the Japanese government introducing a series of measures, Nikkei futures have been murdered by them.

……

Get orders.

Legge began to slowly transfer funds to Singapore, and Rhett learned that he had been selected to be in charge of the Japanese market alone, and excitedly set about selecting the elite and building a team. The hired traders each received tens of millions of dollars in bonuses and left Tokyo contentedly. (To be continued......)