QFIIs welcome approval of index futures trading
The first five QFII holders have been approved to trade Chinese index futures, which should in theory make it easier for them to provide absolute return in a market downturn.
A batch of five qualified foreign institutional investors (QFIIs) has become the first group to be approved to trade stock index futures in China after a 20-month wait.
The guidelines were released in May 2011, but the practice was not made official until this month on the China Financial Futures Exchange (CFFEx). According to local media, five QFII licence holders have had applications to trade stock index futures approved.
CICC carried out the first trade for a QFII client at …
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