\u534e\u5c14\u8857\u6700\u9ad8\u76d1\u7ba1\u673a\u6784\u5c06\u7814\u7a76\u4e00\u4e9b\u6f5c\u5728\u7684\u65b0\u89c4\u5219\uff0c\u6d89\u53ca\u8fd1\u6765\u7684\u4e24\u8d77\u5f15\u53d1\u80a1\u5e02\u52a8\u8361\u7684\u4e8b\u4ef6\uff0c\u4e00\u662f\u6563\u6237\u6295\u8d44\u8005\u75af\u72c2\u8ffd\u6367GameStop Co. (GME)\uff0c\u4e8c\u662fArchegos Capital Management\u7206\u4ed3\u3002<\/p>\n
\u5728\u4e8b\u5148\u5907\u597d\u7684\u5411\u4f17\u8bae\u9662\u91d1\u878d\u670d\u52a1\u59d4\u5458\u4f1a(House Financial Services Committee)\u4f5c\u8bc1\u7684\u8bc1\u8bcd\u4e2d\uff0c\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a(Securities and Exchange Commission, \u7b80\u79f0SEC)\u6839\u65af\u52d2(Gary Gensler)\u8868\u793a\uff0c\u6709\u4e9b\u5e94\u7528\u628a\u4ea4\u6613\u201c\u6e38\u620f\u5316\u201d\uff0c\u4ee5\u9887\u5177\u5438\u5f15\u529b\u7684\u89c6\u89c9\u56fe\u5f62\u6765\u5956\u52b1\u7528\u6237\u7684\u4ea4\u6613\u51b3\u5b9a\uff0c\u8fd9\u4e9b\u505a\u6cd5\u53ef\u80fd\u4f1a\u9f13\u52b1\u6295\u8d44\u8005\u9891\u7e41\u4ea4\u6613\uff0c\u7ed9\u6295\u8d44\u8005\u5e26\u6765\u66f4\u4e3a\u7cdf\u7cd5\u7684\u540e\u679c\u3002\u67d0\u4e9b\u6c11\u4e3b\u515a\u8bae\u5458\u5df2\u628a\u5e2e\u52a9\u63a8\u9ad8GameStop\u80a1\u4ef7\u7684\u6563\u6237\u4ea4\u6613\u70ed\u6f6e\u5f52\u548e\u4e8e\u6e38\u620f\u5316\u3002<\/p>\n
\u6839\u65af\u52d2\u5728\u4e0a\u8ff0\u4e66\u9762\u8bc1\u8bcd\u4e2d\u8fd8\u8868\u793a\uff0c\u4f5c\u4e3a\u5bf93\u6708\u4efdArchegos\u7206\u4ed3\u4e8b\u4ef6\u7684\u56de\u5e94\uff0cSEC\u5c06\u63a2\u8ba8\u76d1\u7ba1\u65b9\u9762\u7684\u8c03\u6574\u3002Archegos\u662f\u5bf9\u51b2\u57fa\u91d1\u8d44\u6df1\u4eba\u58ebBill Hwang\u9ebe\u4e0b\u57fa\u672c\u4e0d\u53d7\u76d1\u7ba1\u7684\u5bb6\u65cf\u6295\u8d44\u5de5\u5177\uff0c\u5176\u4ee5\u6760\u6746\u52a9\u63a8\u7684\u62bc\u6ce8\u7ed9\u5168\u7403\u591a\u5bb6\u9876\u7ea7\u94f6\u884c\u9020\u6210\u4e86\u903e100\u4ebf\u7f8e\u5143\u7684\u635f\u5931\u3002\u6839\u65af\u52d2\u6599\u5c06\u4e8e\u5468\u56db\u5728\u56fd\u4f1a\u4f5c\u8bc1\u3002<\/p>\n
\u8c08\u53ca\u6e38\u620f\u5316\uff0c\u6839\u65af\u52d2\u6697\u793a\uff0c\u8bb8\u591a\u6295\u8d44\u8005\u4fdd\u62a4\u89c4\u5219\u662f\u5728\u4ea4\u6613\u8f6c\u79fb\u5230\u7ebf\u4e0a\u5e73\u53f0\u4e4b\u524d\u5236\u5b9a\u7684\uff1b\u7ebf\u4e0a\u4ea4\u6613\u5e73\u53f0\u5728\u89c6\u89c9\u4e0a\u66f4\u6709\u5438\u5f15\u529b\uff0c\u4e0d\u65f6\u9762\u4e34\u9f13\u52b1\u6295\u8d44\u8005\u9891\u7e41\u4ea4\u6613\u7684\u6307\u8d23\u3002\u6b64\u6b21\u542c\u8bc1\u4f1a\u88ab\u63d0\u4e0a\u65e5\u7a0b\u4e4b\u524d\uff0c\u4e00\u573a\u6563\u6237\u4ea4\u6613\u70ed\u6f6e\u63a8\u52a8GameStop\u3001AMC\u5a31\u4e50\u63a7\u80a1\u516c\u53f8(AMC Entertainment Holding Inc., AMC)\u7b49\u591a\u53ea\u80a1\u7968\u7684\u4ef7\u683c\u98d9\u6da8\u81f3\u8fdc\u8d85\u53bb\u5e7412\u6708\u4efd\u7684\u6c34\u5e73\u3002<\/p>\n
\u201c\u6211\u4eec\u7684\u8bb8\u591a\u76d1\u7ba1\u89c4\u5b9a\u57fa\u672c\u662f\u5728\u8fd9\u4e9b\u65b0\u8fd1\u7684\u6280\u672f\u548c\u901a\u4fe1\u505a\u6cd5\u666e\u53ca\u5f00\u6765\u4e4b\u524d\u5236\u5b9a\u7684\uff0c\u201d\u6839\u65af\u52d2\u5728\u4e66\u9762\u8bc1\u8bcd\u4e2d\u8bf4\u3002\u201c\u6211\u8ba4\u4e3a\u9700\u8981\u8bc4\u4f30\u6211\u4eec\u7684\u89c4\u5219\uff0c\u6211\u4eec\u53ef\u80fd\u9700\u8981\u4fee\u8ba2\u89c4\u5219\u3002\u201d<\/p>\n
\u6839\u65af\u52d2\u8fd8\u66fe\u662f\u9ad8\u76db\u96c6\u56e2(Goldman Sachs Group Inc., GS)\u7684\u94f6\u884c\u5bb6\uff0c\u8fd8\u5728\u5965\u5df4\u9a6c(Barack Obama)\u653f\u5e9c\u4efb\u5185\u6267\u638c\u8fc7\u7f8e\u56fd\u5546\u54c1\u671f\u8d27\u4ea4\u6613\u59d4\u5458\u4f1a(Commodity Futures Trading Commission, \u7b80\u79f0CFTC)\u3002\u4ed6\u8868\u793a\uff0cSEC\u5c06\u8bc4\u4f30\u4e00\u4e9b\u88ab\u79f0\u4f5c\u6279\u53d1\u5546\u7684\u5927\u578b\u7ecf\u7eaa\u81ea\u8425\u5546\u662f\u5426\u5728\u5904\u7406\u6563\u6237\u6307\u4ee4\u65b9\u9762\u62e5\u6709\u8fc7\u591a\u7684\u6743\u529b\u3002<\/p>\n
\u6279\u53d1\u5546\u5411Robinhood Financial LLC\u3001TD Ameritrade\u7b49\u96f6\u552e\u7ecf\u7eaa\u673a\u6784\u4ed8\u8d39\uff0c\u4ee5\u83b7\u5f97\u5c31\u8fd9\u4e9b\u673a\u6784\u7684\u5ba2\u6237\u53d1\u51fa\u7684\u6307\u4ee4\u8fdb\u884c\u4ea4\u6613\u7684\u6743\u5229\u3002<\/p>\n
\u8fd9\u79cd\u540d\u4e3a\u5ba2\u6237\u8ba2\u5355\u6d41\u56de\u9988(payment-for-order flow, \u7b80\u79f0PFOF)\u7684\u673a\u5236\u957f\u671f\u4ee5\u6765\u4e00\u76f4\u53d7\u5230\u5ba1\u89c6\uff0c\u56e0\u6d89\u5acc\u5b58\u5728\u5229\u76ca\u51b2\u7a81\uff0c\u5305\u62ec\u662f\u5426\u4f1a\u4fc3\u4f7f\u6563\u6237\u7ecf\u7eaa\u5546\u66f4\u770b\u91cd\u81ea\u8eab\u6536\u5165\u6700\u5927\u5316\uff0c\u800c\u975e\u786e\u4fdd\u5ba2\u6237\u83b7\u5f97\u6700\u4f73\u4ef7\u683c\u3002\u6279\u53d1\u5546\u8868\u793a\uff0c\u8fd9\u4e2a\u5e02\u573a\u5145\u6ee1\u7ade\u4e89\uff0c\u4ed6\u4eec\u5e76\u672a\u628a\u63a7\u5411\u76f8\u5173\u6563\u6237\u7ecf\u7eaa\u5546\u652f\u4ed8\u7684\u8d39\u7387\u3002\u53e6\u5916\uff0c\u8be5\u673a\u5236\u901a\u5e38\u4f1a\u8ba9\u6563\u6237\u83b7\u5f97\u6bd4\u5728\u8bc1\u5238\u4ea4\u6613\u6240\u80fd\u62ff\u5230\u7684\u66f4\u597d\u7684\u80a1\u7968\u4ef7\u683c\u3002<\/p>\n
\u6839\u65af\u52d2\u5728\u4e66\u9762\u8bc1\u8bcd\u4e2d\u8bf4\uff0c\u4ed6\u5df2\u7ecf\u8981\u6c42SEC\u5de5\u4f5c\u4eba\u5458\u51c6\u5907\u4e00\u4e9b\u5efa\u8bae\uff0c\u65e8\u5728\u63d0\u5347\u4e0e\u5356\u7a7a\u4ee5\u53ca\u4e3a\u5356\u7a7a\u63d0\u4f9b\u4fbf\u5229\u7684\u878d\u5238\u7f51\u7edc\u6709\u5173\u7684\u4fe1\u606f\u516c\u5f00\u529b\u5ea6\u3002\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b(The Wall Street Journal) 2\u6708\u62a5\u9053\u79f0\uff0cSEC\u5c06\u7814\u7a76\u8fd9\u4e00\u4e3e\u63aa\u3002\u5356\u7a7a\u662f\u6307\u501f\u5165\u80a1\u7968\u5e76\u5356\u51fa\uff0c\u671f\u671b\u4e4b\u540e\u80fd\u4ee5\u8f83\u4f4e\u4ef7\u683c\u4e70\u56de\u80a1\u7968\u7684\u505a\u6cd5\u3002<\/p>\n
\u8c08\u5230Archegos\uff0c\u6839\u65af\u52d2\u8bf4\u4ed6\u5df2\u7ecf\u8981\u6c42SEC\u5de5\u4f5c\u4eba\u5458\u63a2\u8ba8\u5982\u4f55\u63d0\u9ad8\u603b\u56de\u62a5\u4e92\u6362(TRS)\u7684\u4fe1\u606f\u62ab\u9732\u6c34\u5e73\uff1bTRS\u8fd9\u79cd\u884d\u751f\u54c1\u5408\u7ea6\u5728Archegos\u5d29\u76d8\u8fc7\u7a0b\u4e2d\u8d77\u5230\u4e86\u91cd\u8981\u4f5c\u7528\u3002Archegos\u66fe\u5229\u7528TRS\u7d2f\u79ef\u4e0eViacomCBS Inc., (VIAC)\u3001\u4e2d\u56fd\u4e92\u8054\u7f51\u5de8\u5934\u767e\u5ea6(Baidu Inc, 9888.HK, BIDU)\u7b49\u516c\u53f8\u5927\u91cf\u80a1\u6743\u76f8\u5f53\u7684\u5934\u5bf8\u3002\u636e\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u62a5\u9053\uff0cArchegos\u5b9e\u9645\u4e0a\u4e00\u5ea6\u62e5\u6709\u4e00\u4e9b\u516c\u53f825%\u7684\u80a1\u4efd\u3002<\/p>\n
\u901a\u8fc7\u4f7f\u7528\u4e92\u6362\u5de5\u5177\u800c\u4e0d\u662f\u7b80\u5355\u5730\u8d2d\u4e70\u80a1\u7968\uff0cArchegos\u5f97\u4ee5\u5728\u9884\u4ed8\u8d44\u91d1\u51e0\u8fd1\u4e8e\u65e0\u7684\u60c5\u51b5\u4e0b\u8fdb\u884c\u8d85\u5927\u89c4\u6a21\u62bc\u6ce8\uff0c\u5e76\u89c4\u907fSEC\u5173\u4e8e\u5927\u578b\u6295\u8d44\u8005\u6240\u6301\u516c\u53f8\u80a1\u4efd\u7684\u62ab\u9732\u8981\u6c42\u3002\u4e00\u4e9b\u91d1\u878d\u6539\u9769\u5021\u5bfc\u4eba\u58eb\u8868\u793a\uff0c\u76f8\u5173\u62ab\u9732\u89c4\u5219\u9002\u7528\u8303\u56f4\u82e5\u88ab\u62d3\u5c55\u81f3\u4e92\u6362\u5de5\u5177\uff0c\u6216\u8bb8\u53ef\u4ee5\u5e2e\u52a9\u907f\u514dArchegos\u5d29\u76d8\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"
\u534e\u5c14\u8857\u6700\u9ad8\u76d1\u7ba1\u673a\u6784\u5c06\u7814\u7a76\u4e00\u4e9b\u6f5c\u5728\u7684\u65b0\u89c4\u5219\uff0c\u6d89\u53ca\u8fd1\u6765\u7684\u4e24\u8d77\u5f15\u53d1\u80a1\u5e02\u52a8\u8361\u7684 […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26578","post","type-post","status-publish","format-standard","category-news"],"_links":{"self":[{"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/posts\/26578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/comments?post=26578"}],"version-history":[{"count":1,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/posts\/26578\/revisions"}],"predecessor-version":[{"id":26579,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/posts\/26578\/revisions\/26579"}],"wp:attachment":[{"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/media?parent=26578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/categories?post=26578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/tags?post=26578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}