Strict measures: A security personnel stands outside the CSRC building in Beijing. The commission is aiming to stabilise expectations and foster its long-term development in the stock market. — AFP
BEIJING: China banned a top-performing quant fund from the stock-index futures market and vowed tighter oversight of high-speed trading, expanding a crackdown on computer-driven investment strategies that some have blamed for exacerbating market turmoil.
The China Financial Futures Exchange recently banned Shanghai Weiwan Fund Management from opening stock index futures positions for 12 months, while confiscating 8.9 million yuan (US$1.2mil) in illegal gains, the bourse said in a statement late Wednesday.
