昨日起！合格境外投资者可参与ETF期权交易正式开启

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced that starting from October 9, 2025, qualified foreign institutional investors (QFIIs) will be allowed to participate in on-exchange ETF options trading, primarily for hedging purposes [1][3] Group 1: Regulatory Changes - The Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) have begun accepting applications from QFIIs for stock options trading as of September 30, 2023, with SZSE starting on October 9, 2023 [1][5] - The CSRC has progressively relaxed restrictions on QFIIs' participation in domestic commodity futures, commodity options, and ETF options this year, aiming to expand the investment scope for foreign investors [1][7] Group 2: Trading Mechanism - QFIIs can engage in trading of exchange-traded fund options (ETF options) listed on the Shanghai and Shenzhen exchanges, with the trading purpose limited to hedging [3][5] - QFIIs must report their planned use of A-share securities accounts through authorized options operating institutions before opening corresponding derivative contract accounts for hedging [3][5] Group 3: Market Impact - The introduction of ETF options is expected to attract more long-term capital into the A-share market, as both domestic and foreign institutional investors require more comprehensive hedging and investment tools [8][9] - The presence of foreign institutional investors in the top holdings of listed funds has increased, with significant investments noted from major firms such as Barclays and UBS [9]