证券ETF（512880）收红，市场交投活跃度维持高位

Core Insights - The securities ETF (512880) rose over 0.3% on January 20, indicating high market trading activity [1] - Ping An Securities noted that the securities sector maintains high trading activity, with performance and valuation exhibiting beta characteristics [1] - The China Securities Regulatory Commission (CSRC) is soliciting opinions on the draft of the "Supervision and Administration Measures for Derivative Transactions (Trial)" which aims to enhance the regulatory framework for the derivatives market [1] Group 1: Market Activity - The securities ETF (512880) tracks the securities company index (399975), which reflects the overall performance of listed companies involved in securities brokerage, underwriting, and proprietary trading [1] - The active trading environment is expected to benefit leading brokerage firms as the capital market's financing functions continue to improve [1] Group 2: Regulatory Developments - The CSRC's draft measures cover all aspects of derivative trading and aim to clarify the "red lines" for business operations in the derivatives market [1] - The CSRC supports the steady development of the derivatives market to manage risks, allocate resources, and serve the real economy, while encouraging risk management activities such as hedging [1] - The measures also aim to support the development of derivatives that meet the medium to long-term risk management needs of capital [1]