上交所：合格境外投资者可参与在本所上市的ETF期权交易 交易目的限于套期保值

Core Points - The Shanghai Stock Exchange has issued a notice regarding Qualified Foreign Institutional Investors (QFIIs) and Renminbi Qualified Foreign Institutional Investors (RQFIIs) participating in stock options trading [1] Summary by Sections Participation in ETF Options Trading - Qualified foreign investors are allowed to participate in trading of Exchange-Traded Fund (ETF) options listed on the exchange, with the trading purpose limited to hedging [1] Hedging Positions - Qualified foreign investors can apply for limits on both long and short hedging positions in the spot market [1] Account Requirements - Qualified foreign investors must report their planned use of Shanghai A-share securities accounts through entrusted options operating institutions before opening corresponding derivative contract accounts designated for hedging [1] Hedging Quota Application - Qualified foreign investors are required to submit applications for hedging quotas for relevant options through entrusted options operating institutions, and can only participate in hedging trading after the quotas are approved by the exchange [1] Compliance Management - Options operating institutions accepting applications from qualified foreign investors must diligently manage the compliance of business applications and trading behaviors [1] Penalties for Non-compliance - The exchange may take measures such as verbal warnings, written warnings, adjustments to position limits, restrictions on opening positions, and reminders for violations of the notice or other irregularities by qualified foreign investors and options operating institutions [1] Effective Date - The notice is effective immediately, and the exchange will start accepting applications for qualified foreign investors to participate in stock options trading from the date of the notice [1]