(Yicai Global) Dec. 2 -- The Shanghai Shenzhen 300 Index option contracts on the Shanghai Stock Exchange and Shenzhen Stock Exchange may both become available this month, several securities brokerages said.

Many investors have gotten hold of options on the Shanghai bourse, and personal trading account users can apply for permits to deal in them on the Shenzhen Stock Exchange, according to recent notifications from the two stock markets, Shanghai Securities News reported.

The SSE launched an exchange-traded fund option that tracks the SSE 50 Index as China's first ETF option on Feb. 9, 2015. This new contract is a key expansion of the futures market that will meet investors' diverse risk management needs and inject more domestic and overseas long-term funds into the market.

The Shanghai Shenzhen 300 Index and the SSE 50 Index differ greatly in that the Shanghai Shenzhen 300 spans a wider market value and represents more diversified industries.

The stock market value of the Shanghai Shenzhen 300 Index is about CNY30 trillion (USD4.3 trillion), making up about 60 percent of the total A-share market. It tracks 159 funds, with a total size of CNY267 billion, a study by Caitong Securities' research department shows.

Editor: Ben Armour