智通财经网·2026-01-20 02:27Group 1 - The core viewpoint of the report is that the CSRC is seeking public opinion on the "Derivatives Trading Supervision Management Measures (Trial) (Draft for Comments)", indicating a trend towards gradual regulation and steady development of the derivatives business in the long term [1] - The report suggests that the purpose of the draft is to implement the new "National Nine Articles" related arrangements and improve the regulatory system for derivatives business [1] - The report emphasizes that the derivatives business is expected to benefit from market activity and expansion, with a focus on the development potential of high-quality leading brokerages that leverage customer bases and professional capabilities [3] Group 2 - The revised measures continue the overall goal of "preventing risks and serving the real economy," with more specific and refined regulations compared to previous drafts [2] - Key modifications include the implementation of counter-cyclical adjustments in derivatives trading, maintaining reasonable leverage levels and market sizes, and optimizing specific rules related to business qualifications and risk management [2] - The measures also reflect a cautious innovation attitude, suggesting the prudent development of overly complex derivatives contracts and enhancing cross-border regulatory cooperation with foreign regulatory bodies [2]