香港交易所-衍生品散户投资者调查2001.pdfVIP

DERIVATIVES RETAIL INVESTOR SURVEY 2001/02 ñ REPORT ñ Hong Kong Exchanges and Clearing Limited Research Policy, Corporate Strategy 19 June 2002 Derivatives Retail Investor Survey 2001/02 ― Report CONTENTS Executive summary 1 1. Background and objectives3 2. Methodology3 3. Limitations4 4. Respondentsí profile (Compared with RIS findings)5 5. Products invested in6 5.1 Frequency distribution of invested products6 5.2 Frequently traded HKEx derivative products 7 6. Investment experience and trading pattern7 6.1 Years of experience 7 6.2 Frequency of trading 8 6.3 Usual deal size 8 6.4 Analysis of trading pattern by different investor characteristics 9 7. Investment behaviour and attitude11 7.1 Occasion of market entry 11 7.2 Main reasons for derivatives trading11 7.3 Motivating factors for trading more12 8. Online trading13 8.1 Frequency of online trading 13 8.2 Online tradersí profile and their trading pattern 13 8.3 Motivating factors for more online trading15 9. Perceptions of the HKEx derivatives market 16 10. Other opinions 17 Derivatives Retail Investor Survey 2001/02 ― Report EXECUTIVE SUMMARY Hong Kong Exchanges and Clearing Limited (HKEx) conducted the Derivatives Retail Investor Survey (DRIS) for the first time in 2001/02 to study retail participation in the Hong Kong derivatives market, and the investment behaviour, attitude and opinions of derivatives retail investors in Hong Kong. The DRIS was conducted in two stages ó a mail questionnaire survey and personal interviews. The 263 respondents to the mail survey were clients of selected Futures Exch