A Study On The Business Transformation Of Domestic Securities Brokers

This paper mainly proceeds from the business practice of domestic securities brokers, focuses on their traditional business, and makes in-depth research and meditation on their business transformation in terms of the business mode outline as well as the strategic mode, practical inspection, development orientation and concrete measures of their business transformation. On the basis of long-term work practice and theoretical foundation on financial products, the author analyzes the product innovation and transformation mode for all the businesses of domestic securities brokers in a relatively all-round way from the angles of enterprise management and product innovation. The author also initiates the development orientation of the said transformation as well as the related specific measures and suggestions in light of the requirements of current regulatory policies for the said transformation and the competitive pattern of future securities market.The paper consists of 3 chapters. Chapter One outlines the business mode of securities brokers. It builds up an analytical framework of the financial products offered by them with the theories on product innovation and briefly introduces the business mode of domestic securities brokers. Chapter Two deals with the strategic mode and concrete practice of the business transformation of domestic securities brokers. It discusses not only the innovative explorations made by them so far on the basis of the analytical framework of both business factors and strategic mode but also what they have learned from overseas securities brokers in terms of innovation experience. Chapter III elaborates the development orientation for the business transformation of domestic securities brokers and puts forward some measures and suggestions. It suggests that in light of the requirements of regulatory authorities for the said transformation and the competitive pattern of future securities industry, the said orientation be mainly chosen between all-purpose and distinctive business modes. It also suggests that domestic securities brokers carry out business transformation in 4 traditional fields, namely, brokerage, asset management, investment banking and self-operating business.The innovative highlight of the paper is as follows: build up a basic logical framework of the financial products offered by securities brokers by researching and summarizing the advantages and disadvantages of the same kind of research at home and abroad and integrating the theories of Western management and financial products so that in-depth analyses can be made into the financial business system of securities brokers and thus the strategic mode of business transformation summarized. The development orientation of the said transformation as well as the related specific measures initiated in light of the traditional business fields of securities brokers herein is indeed the sublimation of the author's long-term practice and meditation. The author sincerely expects the exploration in this field elaborated herein to be of some help to the research into the future business transformation of domestic securities brokers...