Chapter 628 And Electronic Disk
Hidetomo Hirano has never been so nervous in his life.
Not in the most important exam in life, not in the most important interview in life, not in the most important negotiation in life.
However, when standing in the strange and familiar crude oil trading pool, Hidetomo Hirano's face was as usual, but his legs were shaking. If it hadn't been for the fact that it was too crowded inside, people were next to people and touching people, he might have been crooked long ago.
He couldn't help but be nervous. In just a few minutes, he threw out more than 400 million dollars, and he didn't know how much he had to throw out to stop the taxi that was about to fall.
If you change to other young people who have just become traders, they may forget the value of 400 million US dollars in such a warm atmosphere, but Hidetomo Hirano will not. He has stayed at the Sumitomo firm for a long time. When he sleeps and dreams, the numbers will not be messy.
Thinking that in the next short time, he didn't know how much 400 million dollars he had to invest, Hidetomo Hirano felt that blood was pouring over his head.
400 million US dollars, if used for bank mergers and acquisitions, is enough to buy 100 small and medium-sized [day] companies, or 1,000 small and medium-sized enterprises in Southeast Asia, can buy at least three of the latest fully automatic lithium battery production lines and put them in the bank for conservative investment, at least 40 million US dollars per year. Profit... If it is used for consumption, buying a small island in the Caribbean and stuffing it with beautiful women, it will cost about half of the $400 million.
If the bet fails, it is difficult for Hidetomo Hirano to imagine how the upper class of the trading company will be held accountable, and he may be in prison. After all, he didn't get permission to go up the peak.
Time does not allow him to wait for the results of the report.
Hidetomo Hirano understood that the reason why the traders with multiple orders in the crude oil pool did not rush to sell at the moment the news appeared was that they needed to confirm the news. What's more, the traders were waiting for the company's instructions.
In terms of trading skills, long traders do not want to rush to sell and cause uncontrollable losses.
However, the result of waiting is not optimistic.
Once the company makes a decision - let's take a look at the news released by Dahua Industry. It is the most normal decision to sell, then traders will definitely sell.
Even some companies will end up making the opposite decision, such as multiple giants, including Sumitomo Corporation. However, during the waiting period, once one or several traders decide to sell a lot, causing the oil price to plummet and touch the traders' stop loss line, there is no need for the company to explain. Traders will also sell stop losses.
Ordinary traders who are intermediaries don't care about the rise or fall of oil prices, but Hidetomo Hirano can't.
After visiting the offshore drilling platform of Dahua Industry, he started with "Dahua's crew never clean and dirty decks" and gave a wonderful speech at the regular meeting of the Finance Department of Sumitomo Trading Company, so he got a new position. After insisting on doing more, Hidetomo Hirano must not watch the oil price decline in the opposite direction, especially in the trajectory of Dahua Industrial Design.
The result is no different from the loss of hundreds of millions of dollars.
The expression on Hidetomo Hirano's face is not so much self-confidence as resolute.
Only with a huge amount of money to stabilize the current crude oil price can we look forward to the next changes. 6 million barrels of crude oil in stock. It's just more than 100 million US dollars. It's not too difficult to maintain market confidence.
Milton the baldale once again sold 5,000 lot of crude oil without changing his face. He was authorized by Sioux City, and there was no problem to drop 5 billion US dollars.
Hidetomo Hirano took it over without changing his color.
Milton sold again, and Hidetomo Hirano accepted it again.
In the small trading pool, each time two people trade, they take a step forward.
Other traders have made their way. Let both sides face each other directly.
It's another deal.
The two of them got closer and closer until their noses touched their noses.
Milton the vulture has been on the London International Crude Oil Exchange for 20 years. He is an old-fashioned trading agent and has encountered this kind of multi-party war more than once.
After a short confrontation, Milton had an idea and suddenly said in English with an accent, "Does your company know that you spent so much money?"
Hidetomo Hirano was stunned. He said, "Of course."
[Day] The company's response is really fast and rare. Another 5,000 hands?"
"No problem." Hidetomo Hirano has already taken the order without a brain. According to the plan, he should have interned for a year. Only then did you really enter the trading pool. However, without the authorization of the company, Hidetomo Hirano could not order the traders in the trading pool to represent Sumitomo and had to go shirtless.
It is difficult to tell whether his decision is right or wrong, but his behavior is indeed too awkward.
was clicked by Milton. Hidetomo Hirano had not yet woken up, but the trader next to him had already reacted.
Today's market volatility is caused by Dahua Industry. It is not surprising that Milton is employed by the Trans-Asian Fund and is authorized in advance. Hidetomo Hirano's Sumitomo Commercial Bank is different. Unless they get internal information, Sumitomo Commercial Bank's reaction should not be faster than that of local financial companies in London.
[Day] The company is notoriously dull, even in the financial market.
Think further, if Sumitomo Commercial Bank gets internal information in advance, it will be stupid to do more. The best way is undoubtedly to wait for Dahua Industry to release the news first, then quickly short, and then change hands to do more. Unless Sumitomo Commercial Bank knows in advance that the news of Dahua Industrial's Aqijiu Oilfield is false, it will reverse the long and then expose the news of Dahua Industrial.
Therefore, the key to the problem lies in the [true] reality of the timely news.
Several traders who thought of this have taken the electronic screen at their waist, and the button urged the colleagues upstairs to quickly confirm the news.
Holiday news appears from time to time for short-term futures traders, and most traders have become quite cautious.
It's very slow, but the slow trading in the trading pool has been carried out for less than 10 rounds. Hidetomo Hirano has paid a billion dollars, which is still a considerable distance from his authority.
He was used to Milton's trading frequency and was familiar with the trading methods in the trading pool. Hidetomo Hirano was a little relaxed. He sorted out his tie as if he wanted to take a breath. This should have been a day of suit and leather shoes. Hidetomo Hirano was not ready to be a trader, and naturally he didn' Fit clothes.
He doesn't know what he looks like. It also fell into the eyes of other traders and was regarded as a basis for judgment.
"Buzz..."
A trader's electronic screen vibrated.
Hidetomo Hirano frowned. He didn't like this sound, and in the normal trading pool, the hum of the electronic screen could never be heard.
"A thousand more hands, do you want it?" Milton's voice covered the buzzing electronic screen.
"Come on." Hidetomo Hirano showed no weakness.
After a few seconds, the transaction is completed.
"Who else?" Hidetomo Hirano raised the trading card in his hand. He felt that he might hold on to the scene.
In the futures exchange, capital is an extremely important factor. Put on a smaller futures plate, such as teacup-level markets such as coffee, soybeans and huāsheng, financial institutions that can use tens of billions of dollars have been able to monopolize the market and operate against the trend with huge amounts of funds. There are many examples of success.
Even in the larger swimming pool market. There are also examples of huge capital manipulation. JP Morgan's trader Ikill, nicknamed London Whale, is a prominent member. In his heyday, the bond derivatives positions he holds are listed, ranking seventh in the world. The exposure of the cDX index he sells crazily has reached $100 billion, and the trading counter behind him There is a capital position of 360 billion US dollars. After the prevalence of Harry Potter, Ikill got the new nickname Voldemort, which was complained by peers for completely distorting the cDX index so that others could not invest in the product to make a profit.
However, crude oil futures is not a teacup-sized futures market after all, nor a swimming pool-sized futures market. It is the world's top futures market, which can cause a flood of the financial industry at any time.
Those refined crude oil traders. Just quietly looking at Hidetomo Hirano and Milton, who are easily affected and go crazy on the surface, but in fact, their psychological quality is far beyond ordinary people.
"Buzz..."
Another trader's electronic screen vibrated.
Hidetomo Hirano unconsciously looked over.
"Buzz."
"Buzz."
"Buzzing..." The vibration in the electronic pool, as if you were chasing me one after another.
Hidetomo Hirano turned half a circle to the left, half a circle to the right, and then turned his head. But I saw a trading card almost stuck in front of me.
"I sell it!"
"I sell it!"
"Sell!"
Most traders only need to take a look at the electronic screen at the waist and make a decision at a rate of one hundredth of a second.
The news of Dahua Industry has been confirmed.
In an instant, Hidetomo Hirano squeezed all the traders who sold orders, even the original small number of traders who held multiple orders. They are also busy closing their positions without hesitation, and even expect to make a profit by speculation.
The crude oil trading pool has finally resumed the noise of the past.
However, Hidetomo Hirano missed the calmness of the right talent. Even the confrontation before the buzz was much better than now.
"I took it." Hidetomo Hirano did not hesitate to complete the transaction one by one.
He still has hope and looks at the traders representing Enron, Societe Generale and other institutions from time to time.
As the bulls who fought against the Pan-Asian Fund some time ago, these companies have all accumulated a large amount of multi-party positions, which does not mean that they can turn around.
The oil price has not fallen significantly at present. Hidetomo Hirano jumped out to support it. If they stand up and Hidetomo Hirano can't stand it, the oil price will inevitably turn sharply down. Those orders that have no time to sell will all become losses.
This is also a big difference between manual bidding and electronic bidding. If you stab someone in the back, they will immediately find out, and the speed of trading is limited, which makes it more dangerous to hold heavy positions.
Therefore, without instructions on behalf of the company and without the stop loss line, several traders from multiple parties hesitated, neither selling nor stabilizing the front like Hidetomo Hirano.
The news of Dahua Industry has been confirmed, which means that the price of crude oil is bound to fall.
However, how much it falls is still different.
The market may use a drop of 50 cents to digest these messages, or $2 or more to digest these messages, no one can say.
For Hidetomo Hirano, as long as the price of crude oil falls by no more than $1, it doesn't matter if he can afford a futures order of 2 billion US dollars, or 2.5 billion US dollars. For a large consortium like Sumitomo Trading Co., Ltd., they already have the business of buying crude oil, and the worst is delivery
The loss of $2 is a little more. Unless he can hold back the oil price, whether it is closing or delivery, Sumitomo Commercial Bank, which uses 10 times the leverage, will immediately exceed $1 billion.
"I can hold on." Hidetomo Hirano gritted his teeth and made a deal and secretly slowed down.
There are more and more selling orders accumulated in the market, and the price is getting lower and lower.
Finally, when the oil price fell by 50 cents, Hidetomo Hirano was surprised to find that Enron's traders were moving.
"I can't wait." Hidetomo Hirano was secretly happy.
Although Enron is not as large as those financial conglomerates, it is a representative company of energy finance, and its own strength is not weak. Even without special preparation, there are many standing funds on the London Stock Exchange, which is quite a powerful ally.
Hidetomo Hirano squeezed two steps to the left, hoping to be closer to Enron's trader Gretel, so as to send some of the sales orders around him to Enron as quickly as possible, which is a small disaster.
Gretel was a small Hitler-like man. He was very calm in the crowd and came to Hidetomo Hirano in three or two steps.
However, Hidetomo Hirano's expected Hitler-style swinging arm did not appear on Gretel.
The latter seemed to stand on tiptoe and turned his eyes into the air.
"What's this guy doing?" Hidetomo Hirano looked over with curiosity in his anger.
In mid-air, the large electronic screen is slowly playing a string of English opening words - the electronic disk is opening.
Hidetomo Hirano, who was still trading, couldn't help but soften his feet and had to reach out to help the people next to him.
In the crude oil futures market in 1994, there were both on-site manual disks and on-site electronic disks. The manual disks were traded by manual bidding, and the electronic disks were matched by electronic systems. In essence, the nature of the two were the same. According to the current regulations of the London International Petroleum Exchange, the manual disk was opened After the opening.
Such a regulation itself actually shows that the manual disk and the electronic disk are different.
At present, the biggest difference between the two is the transaction speed, which means that the transaction frequency and price changes will increase.
The manual disk is a manual bid. On the one hand, the trader can control the speed, and on the other hand, the relatively slow trading process will slow down the price change.
The electronic disk is different. As long as the price and quantity are set, the speed of the electronic disk matching transaction is calculated in microseconds, so there are more companies and people involved, and the price change is more violent. Here, from time to time, there will be a oolong incident caused by traders because of the wrong number. If it were to manually bid, the Everbright Bank incident would not have occurred, because manual transactions could not complete so many transactions in a few seconds, and people would not be stupid enough to make mistakes in a row.
It can be said that the popularization and development of electronic disks has invisibly increased the ** degree of news in the futures market, making speculation more violent. A frost in Brazil has made the price of coffee rise, and a snowstorm in California has made the price of oranges rise. Behind this change is the acceleration of the speed of information.
In the familiar world of Sucheng, the electronic disk is the dominant force.
And Hidetomo Hirano suddenly understood why Sucheng announced the news at ten:15.
Because at 10:30, the electronic disk will open.
The market will ruminate the news of Dahua Industry. This time, traders will chew more carefully.