Financial stocks may pilot first winning or increase to five

Allowed to undertake business in financial stocks first pilot securities list will be published this month. Insider, the first batch of pilot apart from CITIC Securities, haitong securities and China jianyin investment securities (hereinafter referred to as CIC securities) three firms, it is also possible to add two, in addition, the pilot in the next few months may also be large spread, as the launch of the stock index futures.

(Http://) Shanghai Stock Exchange related departments are also disclosed that the card is expected to be announced after the pilot initially bond underlying list.

Rule making complete

A Shanghai Asset Management Division General Manager, said: "(financing bond) preparations are ready, and other management departments. "Recently, the State Council promulgated the regulations on supervision of securities companies (the supervision Ordinance) and the securities company risk Disposal Ordinance, 2006 issued securities company financing bond pilot management approach", and other laws and regulations, financing, securities lending business rules have been fully prepared.

China Securities Regulatory Commission responsible end also indicated is working on the reform of the securities account management system to improve efficiency and increase investor use convenience. Close to the Commission that the funds reach a certain size of investors the same name as the number of account opening, one of the aims is to facilitate the implementation of financing securities lending business.

There are indications that wait for a year and eight months of the financial securities lending business are welcome to start the timing of appropriate, ancillary system rules and the readiness of the participating institutions have been completed, two months ago, there are media reports said that the China Securities Regulatory Commission Chairman Shang Fulin said financing securities lending business solutions is currently in the process of internal consultation.

Financing securities lending business is stock index futures, one of the important preparatory work, although not yet sure stock index futures launched a specific timetable, but according to two Deputy Chairman of the Commission at the meeting, "this year fanfuchun launched to is not a big problem. ”

"The actual actions may be faster. "The source said, financing stocks this year necessary operational maturity. "Pilot at least three months or even longer to large open in the industry, in this case, the pilot started can no longer drag. ”

It is reported that on the card on the securities lending operations of preparatory work has been completed, the test has been done and ready to start a business, "financing securities lending business pilot initial underlying list will also be expected to be released in the near future, the margin ratio basic determines 50%. "Shenzhen Stock Exchange are also confirmed that the Shenzhen Stock Exchange does have similar arrangements, but details are not clear. In addition, securities depository and Clearing Corporation have been prepared to security companies offering "customer credit transactions guarantee securities account," and "securities lending private securities account" and related settlement account.

In credit, securities, guarantees, the source said that, in the present conditions, administered by a professional financing companies promoting credit securities trading difficult, but adopted security companies implement transaction settlement funds, third-party custody and centralized control risk trading for the present situation. At present, the vast majority of securities business achieved a margin third-party custody.

Pilot roster expansion

Close to the SFC senior who said that the Commission for the first batch of pilot attitude seems to be the security companies begin to relax. For the business requirements of introducing time, list broker pilot may originally three adds two, the second batch of pilot scale you may achieve five. The Commission recently completed a securities company apply for financing securities lending business pilot integrated assessment, first of all be developed pilot financing securities lending business is CITIC Securities.

According to CITIC Securities authorities responsible, and management departments have been addressed in close communication, drafting of the operational implementation of programmes or even on the Commission on 30 June 2006 was released and declared on 1 August the securities company financing securities lending business pilot management approach "also has a certain influence. Not long ago, CITIC Securities business implementation plan on doing some adjustment to meet the regulatory requirements of the latest. In the most important sources of funding, the insiders said that in addition to the letter in its own funds to plan mainly through the issuance of trust to raise more funds, "even consider using a collection of financial planning, but this is a collection for the next release of financial planning. ”

A Shanghai securities company Deputy General Manager of asset management, said that they recently submitted to the Commission is also aware of materials related to financing securities lending business pilot securities initial preparation, although it is not clear what are the specific, but CITIC Securities wins the first batch of pilot "is the expected thing."

Sources said that strength enhancements is stock pilot to expand the list. According to the latest quarterly report shows that as of the end of March 2008, two of the largest brokerage, CITIC Securities net asset size reached $ 516, haitong securities to 366 million.

Although the winning investment securities in a somewhat surprising, but it passed the reorganization, the assets are obvious optimization, it is more important to have a good customer base. However, three brokers for financing bond pilot of attitudes is very low key, CITIC and President of CIC stakeholders indicates that have not yet received notification, haitong securities are called, haitong securities into a list of the first pilot, a knowledge, however, "in this business we have already fully prepared. ”

First published annual report 2007 of the listing broker Northeast securities, in its annual report also claimed that in 2008, the company also plans to get started including financing stocks and direct equity investments, and other business must have access to the business. People in that, once launched financing bond pilot should mass spread quickly, "or you will not have the qualifications of security companies by business brokerage generated crowding, would have caused a large number of shareholders to pilot this business of securities transfer, causing an extreme transactions concentrated in a few securities, may result in transactions

Channel blocking. ”