New investor protection fund signals financial futures launch

A planned investor protection fund is the latest sign that China's first financial futures will be launched soon, the Financial Times reported. The fund would compensate investors in the event of mismanagement, fraud, or the collapse of a futures broker. China's four futures exchanges will have to contribute 15% of their risk management reserves to the fund, and futures brokers will have to give 3% of all transaction fees. The fund will be worth US$104 million initially.