The Listing Impacts Of The Stock Index Futures On Chinese Futures Companies' Business Models

Proceeding from the existing state and disadvantages of the futures companies' business models in our country, applying the methods of positive study and normative study as well as those of comparative study and case study, this paper analyzes the impacts of the stock index futures' listing on the five specific business environments of the futures companies in China and its requirements on their business models. The result indicates that the existing business models of Chinese futures companies cannot face up to the changing market and the developing circumstances after the stock index futures' appearance on the market. It is indispensable for the business models of the Chinese futures companies to be innovated. The futures companies in China should define their customer positions anew, especially focusing on investment corporations at the same time. The Chinese futures companies must optimize their shareholders' composition and institute the compensation to executive and employees. A differential competition among them may be launched on the basis of their own resources superiorities. A talent strategy should be carried out vigorously so as to improve their comprehensive service level. The futures companies should make great efforts to create their brand images and develop a strategic alliance or cooperation relationship with security companies or commercial banks. Only in this way, the futures companies in China will enhance their core competence continuously and make a rapid development in bitter competitions.