Effect Of Margin Financing Business Of Securities Companies And Risk Control

Margin trading (Margin Trading) business in China’s financial market to become the new force of the securities market now is not Everything is going smoothly but also experienced a long process based credit model from the initial a review and discussion of China’s financing business, from the first6firms approved to carry out margin trading and securities lending business qualifications, by the end of2013, China has obtained the qualification of margin trading and securities lending business of securities companies have a total of77, financing the balance of more than3000billion, the opening of the credit securities accounts of investors for a total of more than700000households, the margin of underlying securities altogether700. Since the visible from2006"Securities Margin pilot management measures" issued, the financing securities loan service has made significant achievements and great progress in the past seven years. But the margin trading in overseas development time and maturity is still far higher than that in China, shows that our margin financing business also need to gradually with the financial markets and macroeconomic policies in China continue to gradually improve and mature.Introduced into China at the beginning of the trading system, the research focus and scope mainly are established and taken with the capital market of our country, the financial system and credit environment and credit system. Through careful planning and preparation for more than four years of preparations of China established in accordance with the existing financial market and the financial conditions of China’s unique mode of credit. But because of China’s securities market is not perfect and developed and the mode of China’s unique credit constraints, to China’s capital market and the money market financing channel is not smooth, not only financial market liquidity is limited. With the corresponding is the requirement of financial market liquidity needs higher and more perfect market resources allocation function of China’s economic development, thus requiring our unique to this credit mode to the mode reform more liberal and open and development. In the financial market of our country in urgent need of financing mechanism of reform and development, "refinancing" mechanism also emerge as the times require, as the margin financing business service trading mechanism of this new generation is in the phase of development to break the margin of business credit mode is limited, it is in order to solve the problem to a lack of vitality and mobility I securities market financing, the financing securities loan service with refinancing business support is the true and complete "margin" business.In this paper, through a large number of domestic and international research literature on the reading on the basis of margin trading, in close connection with their Haitong Securities in the company’s practice research, credit pattern and trade system first introduced our country financing business, simple and the world developed financial market margin trading mechanism to compare, in order to explore and discover lack of transaction and credit model established by the financial market of our country, and then a detailed analysis of effects of China’s existing credit system and transaction mode of financial market the main participants in the securities company, and with the Haitong Securities Company development practice as an example, the margin financing business to achieve sustained development, securities companies should pay more attention to risk prevention conclusion the financing securities loan service in the development of series system, and puts forward the simple problems and suggestions of current risks avoidance.