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</script></span> </div> <div class="c_content_text"> <div class="c_content_overflow" id="fontzoom"> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">      深交所日前发布股票期权相关业务规则及指南,ä»?2æœ?日起,券商正式开始向个人投资者提供深市股票期权账户的开通服务,相应的线上APP也开放了开户入口。有机构分析人士认为,此次制度完善为场内股票期权品种扩容奠定基础。衍生品对券商综合实力要求较高,或将形成分化格局,优质券商有望把握先机ã€?/p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  投资者需充分了解其风é™?/p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  某券商经纪业务部门投教人士表示,沪深两市的期权账户开户要求几乎是一样的,对于七十周岁以下的个人投资者来说,倘若此前已开通过沪市期权账户,只需通过手机APP即可完成账户开通,不必去营业部临柜办理;对于没有开通过沪市期权账户的个人投资者,以及已开立沪市股票期权合约账户的七十周岁(含)以上的个人投资者,则必须去现场临柜办理。机构投资者一律需在营业部临柜办理开通业务ã€?/p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  上述券商投教人士表示,股票期权可以满足投资者风险管理需求,利于套期保值和风险对冲;还可以实现对证券波动率的交易,满足投资者对证券涨跌的投资需求,实现多元化交易;有助于投资者通过卖出认沽期权、收取权利金来降低买入成本;还有助于长线持有标的投资者通过卖出认购期权、收取权利金来增强持仓收益ã€?/p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  业内人士指出,股票期权交易不同于股票,具有特定风险,可能发生巨额损失,投资者需充分了解其风险:杠杆风险,即卖出期权的投资者面临的损失总额或通过杠杆放大;价格波动风险,即股票现货、期权的价格波动和其他市场风险或造成巨大损失;无法平仓的风险,即倘若期权买方在合约最后交易日未能行权,则期权价值到期归零,合约权利失效;被停牌风险,即期权交易出现异常波动或涉嫌违法违规时,交易可能被停牌ã€?/p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  行业分化格局持续</p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  个人投资者介入股票期权业务,可能会进一步增强证券行业的分化格局ã€?/p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  华泰证券非银团队认为,顺åº?019å¹?1æœ?日股票股指期权试点扩大、并正式在深交所上市沪深300ETF期权,通过配套制度出台为深交所构筑一套与上交所匹配的内容齐备、体系健全、层次清晰的股票期权制度体系。基础制度构建完善为场内股票期权品种扩容奠定基础ã€?/p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  天风证券认为,监管部门明确股票、ETF可作为股票期权合约标的物,有利于投资者套期保值和风险对冲,有望扩大机构资金进入资本市场。此外,深交所后续将发布做市商名单,股票期权等创新业务将为券商提供增量业绩贡献,龙头券商有望率先获益ã€?/p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  华泰证券认为,衍生品业务较为复杂,具有较高的门槛,对券商综合实力提出更高要求。一方面,券商发挥做市商功能,资本实力直接决定业务规模。另一方面,衍生品业务较为复杂、风险相对较高,需要券商提升定价、销售、风控等专业实力,以实现收益与风险平衡发展ã€?/p> <p style="margin: 0px; padding: 6px 0px; color: rgb(51, 51, 51); font-family: "Microsoft Yahei"; font-size: 18px;">  未来业务竞争或将呈现显著分化格局,大型券商有望把握领先优势。监ç®?ldquo;扶优限劣”导向下,大型券商有望优先获得业务资质,或将把握业务发展先机。同时,大型券商在资本实力和专业实力上享有领先优势,有望持续夯实衍生品业务优势地位,形成较强的业务壁垒,驱动业务竞争呈现显著分化格局ã€?/p> </div> </div> <div class="contArticle_bot_Artpage"> <span id="pe100_page_contentpage" class="pagecss"></span> </div> <div class="c_contant_end"> 您可以分享或转发本文至: <div class="bdsharebuttonbox"><a href="#" class="bds_more" data-cmd="more"></a><a href="#" 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