Minsheng Bank faces Gold customer AU (t+d) losses

August the last weekday night, AU (T+d) 's uncanny instantaneous limit, the focus is gathered to the strong flat customer response. The last working day of August of this year, the Shanghai Gold Exchange (hereinafter referred to as the "gold exchanges") of the gold-deferred spot products--au (T+D) night plate has undergone major changes, a series of mystery in the vicinity of 289 yuan/grams will be the price of the product directly to 7% of the trading limit, to maintain about 40 seconds after the price again normal. In the night after the gold price limit, Minsheng Bank's wind control system has flattened many customers ' empty list, the bank's name of a large number of short customers lose. Yesterday, the loss of customers and Minsheng Bank Shanghai Branch Communication, hope that the bank can give them a statement.　　Previously, the customers had submitted a letter of complaint to the Gold Exchange. Mr. Yan, the investor who experienced the night trading process, presented the letter of complaint to the first financial daily, which challenged the risk control framework of the Minsheng banking trading system.　　Because from an investor's point of view, deputy Gold Exchange of AU (t+d) of the bank has more than 10, why only the Minsheng Bank in gold trading, the customer short positions will be strong flat, only after 40 seconds, the gold is back to normal, the bank's short customers appear to have suffered a great loss. "People's livelihood provided to our clients of the AU (t+d) transaction margin ratio of 10.4%, the variety of ups and downs of the plate is 7%, a limit is obviously not to wear a warehouse, but the bank does not give short customers the opportunity to margin."　　Mr. Yan's face puzzled. The head of another bank in Shanghai pointed out that Minsheng Bank to clients of the transaction margin is lower than other banks, the wind control requirements are very high. Minsheng Bank related people said: "Can not only see the customer's low margin ratio, but also to see, in a low margin rate, customer potential profitability is also higher, some banks to provide 20% margin rate, to the exchange of only 10%, the remaining equivalent to the Bank relief interest."　　"However, even if the bank is about 10 times times the transaction lever, the loss of trading to short positions margin of about 70%, the customer account still has some residual funds, why are banks so anxious to close the position?"　　Minsheng Bank Shanghai Branch Retail Bank Wealth Management department deputy general manager Allen Hu said, in fact, the plate in the t+d of the Minsheng Bank AU (s) Business of the wind control mechanism, each customer opened a personal gold account, will be in the bank "agent personal precious metals deferred business Agreement" (hereinafter referred to as the "agreement") read to this clause. The "agreement" fifth stipulates that Party B (the bank) to party A (investors) position in the imposition of compulsory flat plate, in accordance with the corresponding positions, positions, floating losses and market fluctuations, choose the appropriate intensity and commissioned prices.　　Minsheng Bank also stated that the bank's strong leveling mechanism is real-time system automatic leveling, that is, according to the Gold Exchange real-time calculation of the latest customer position risk, due to sharp fluctuations in prices, the system automatically calculates customer positions after the profit and loss, to meet the requirements of the forced liquidation of the customer automatically closed positions. But Shanghai's cast"This mechanism appears to violate the rules of the mandatory liquidation of the Gold Exchange," said Ngai, a capital. "According to the Shanghai Gold Exchange deferred settlement rules 23rd stipulates that the imposition of closed positions by members of their own implementation, the time limit, in addition to special provisions of the exchange, for each trading day 10:00~11:00."　　55th of the rules stipulates that members should check the daily liquidation data in time through the member service system, and when there is insufficient funds available for the agent account or the proprietary account, the minimum amount shall be replenished to the exchange stipulated before the next trading day. Minsheng Bank issued a statement on the Ngai, of which there are two 4-hand au (t+d) was strong flat on the night of the incident, the loss amounted to more than 75,000 yuan, and Minsheng Bank to the customer issued a strong flat system notice after the Qiangping operation is completed.　　The customer also showed the bank sent him a strong ping text message notification, mobile phone messages on the display of the time is a strong-ping operation after a minute.　　Ningbo's Mr. Zheng was also "first strong flat again notice", the night of August 31, Minsheng Bank in advance of the contract, 3 seconds before issuing additional margin notice. Minsheng Bank Shanghai Branch of the relevant officials said, personal gold products of the strong-ping mechanism by the people's livelihood headquarters design, local branches can not be judged on its rationality, customers to the plate in the challenge of the flat to the Beijing headquarters to reflect, for instructions, the line in a week or so time to give customers a "statement."