Rebirth: The Financial Giant - Chapter 973: [CME Group: No, do it all over again]

President Wang made it clear that don’t think about it when you get the money back, it’s impossible.

However, Wanxiang intends to buy the oil in your hands, and it can even offer a premium of more than $20. The current oil price is around $10, and I will give you double the premium. You will transport the oil to me and buy it.

Wanxiang can pay for the freight, oil storage fees, labor costs, etc. during the period. As long as the oil is shipped out, the remittance will be settled immediately. There is absolutely no such thing as accounts payable.

It is worth mentioning that Wanxiang Group and its partners had previously obtained a right of first refusal on the oil contract issue, the main content of which was that Wanxiang could exercise the right of first refusal for this batch of oil below US$30/barrel.

At this time, it will be difficult for CME Group, because there are only two paths in front of it.

One is to abide by the rules of the game, then you can only admit the loss, accept the fact that someone has stolen your butt, and then Wanxiang will come back to buy oil, because Wanxiang’s partners are actually not too afraid to store oil for too long, storage. The cost has to be paid by itself, and the oil price does not know how long it will run at a low level.

For enterprises, the current oil price is almost a “disaster” for North American energy companies. The current ultra-low crude oil price is enough to “annihilate” North American oil companies. Among more than 100 North American crude oil companies, they can do so at this time. Only five companies such as Exxon Mobil and Chevron have made profits, and the minimum profit standard line given by them is that the oil price should reach 31 US dollars per barrel.

Therefore, following the rules of the game, Wanxiang will come over to buy oil and use the priority to buy oil. North American oil companies will never be able to offer a price of more than 30 US dollars / barrel, and they will not ask for it if they cut half to 15 US dollars / barrel. The partners want to ship, and at this time, the only buyer who can offer the highest price of $30/barrel is Wanxiang.

If the rules of the game are followed, the 100 million barrels of oil will really be bought by Wanxiang and shipped back to Greater China.

This is obviously blood loss twice for Laomei’s side.

The other way is to cheat. Yesterday’s oil price fluctuations were innumerable. The data was re-read and re-filed to the closing price of wti crude oil at $18.27/barrel on April 17, and it was all over again.

But in this way, those partners of Wanxiang refused to agree first. They all paid 4.092 billion US dollars in real money. Wanxiang had already run away with the money. possible.

Do not count again? That must not be a blood loss of more than 4 billion US dollars! Is this still great?

In addition, if CME Group is cheating, it will face a big problem. If the settlement and delivery of tas on April 20 does not count, will the money lost by Yuanyou Baoxue be returned to others? Do the contracts that were forcibly liquidated have to be returned to others?

It doesn’t count if you say you have to do it all over again, of course you have to do it again to others.

It can be seen that there are two paths at CME Group, no matter which one you choose is extremely tricky.

At about 3:00 a.m. in the middle of the night on the domestic side, heavy news from the CME Group came from the North American side. The CME Group issued an emergency announcement saying that the negative oil price on April 20 was due to an error in the it code of the new system and a software programming problem. So the April 20 transaction data doesn’t count.

After all, it was still a joke.

As soon as the news came out, global investors and netizens were stunned!

…

The following day, Wednesday, April 22.

The CME Group issued a so-called emergency announcement overnight, which made the negative oil price event of wti crude oil usher in a reversal again.

Attributing the matter to the so-called system error, whoever does not know that they can’t afford to lose will have to default on their debts. All this is because Wanxiang Group stole the **** unexpectedly behind the scenes, otherwise there would be absolutely no so-called system error.

However, as soon as this emergency announcement from CME Group came out, investors who had lost blood on Yuanyoubao have seen hope on the platform.

Since you said it was a system error, and you have to read the retracement, Yuanyoubao’s losses cannot be counted either.

On the same day, as soon as the announcement came out, Zhonghang began to negotiate with CME Group.

The CME Group’s response was to first admit that the system was wrong, so Yuanyoubao’s losses from crossing positions naturally cannot be counted, but the premise is that Wanxiang has to return the money before it can calculate the loss for you and return it to you.

good guy!

This made Zhong Xing angry. It was obvious that he wanted to play a hooligan for the second time. Not to mention whether Wanxiang was willing to return the money, even if he returned the final Yuanyoubao, it would definitely cost less than a penny.

The CME Group is no longer rude, it’s not a face.

Besides, why should investors pay the bill? It is absolutely impossible for Wanxiang Group to return it. If the system fails in your exchange, the loss should be borne by your exchange.

In fact, CME Group is aware of these problems, but it still has to be fooled.

There is no way, if you don’t rely on Wanxiang, you will come to get the oil. Those partners will sell the oil in their hands, unless other North American oil companies are willing to buy the oil at a high price.

But what is the situation now? North American oil companies are going to explode in place, who would buy these oil at a premium of $3 billion at more than twice the market price?

That can only be a joke, there is no other good way to do it.

If Wanxiang took away the physical crude oil, it would be even more blood loss.

And just when CME Group announced its default, there was a bank or insurance company that participated in the betting on the other side. also default.

This kind of gambling can be killed by suffocation!

Wanxiang also acted swiftly, cashing in quickly and running away with the money. This time, the gambling agreement they played had theoretically made a profit of more than 4 billion US dollars. The banking institutions that were gambling with it had no choice but to admit losses.

They didn’t dare to cheat on the breach of contract. Although they were bored and hurt a little, they didn’t make them so painful that they couldn’t get out of bed.

Credit is their life, especially small and medium-sized banks. Once they default, they will become untrustworthy institutions for other customers. The run caused by this is enough to make these small and medium-sized banks go bankrupt in minutes, and large banks cannot withstand the risk of a run. probably bearable.

They are not the same as CME Group, so they dare not take this risk to gamble with their own credit.

The key is to lose money. Although the flesh hurts, it is not to the extent that it hurts the muscles and bones. After weighing it, I choose to admit it.

…

It’s Saturday, April 25th.

The popularity of this incident remained high. From the initial loss of Yuanyoubao blood to the big reversal later, Wanxiang Group discussed and showed off an anti-harvest operation, which made domestic melon-eating netizens addicted.

Immediately afterwards, the incident reversed again at the speed of light. CME Group could not afford to pay back its debts. Everyone began to worry, and some people began to think that Wanxiang’s jumping too much was a bit sloppy. The cooked duck is about to fly.

With the default of CME Group, it seems that this time the event is once again unpredictable, UU reading www. uukanshu.com has become turbulent, and everyone does not know what the final result will be, and they are also waiting for the new melon to be released.

And at around 16:00 this afternoon, Uncle Party broke new news again.

According to an insider of Wanxiang Group who did not want to be named, Wanxiang signed an agreement with its partners to sell the wti crude oil 2005 contract, and the physical crude oil will be returned to the partner, and the price of each barrel of oil will be 37.63 US dollars. The money belongs to Wanxiang, and the partner directly advances the money to Wanxiang after tas.

So Wanxiang Group has already got real money and ran away.

Even the news of the uncle’s party broke the news, and a screenshot of the content of the English version of the manuscript signed by Wanxiang Group and its North American partner was created on the Internet. Although it is in English, it is not difficult for the almighty netizen, the online “Royal Translator” “The English version of the manuscript will be translated into Chinese soon.

Netizens exploded again.

…

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