129760833638593750_30Securities policy performance by the end of the end of the heels
Securities Times reporter was informed that regulators Forum recently held in Shanghai, Beijing and Shenzhen securities firms and after a survey of the industry, securities industry innovation Conference will be held in April of this year. In addition
tera gold, the perfection of securities issued by the company at the beginning of the year the wind controlling index system of thought (draft for soliciting opinions) to significant expansion of brokers ' innovation space. A few days ago, CITIC Securities, the Yangtze RiverSecurities including securities companies have published research reported that ushered in the securities industry "policy bottom", "end of performance" is expected in the second quarter. Usher in the end of policies recently, regulators in Beijing, Shanghai and Shenzhen, with guosen securities and Societe Generale securities, CITIC Securities representatives of dozens of brokerages held a forum to seek strategic breakthrough of the securities industry and business innovation to industry related advice,Securities industry innovation Conference held in April is expected to do in preparation. CITIC Securities Times reporter who interviewed several participating brokers ', said the securities industry regulatory restrictions has made a major breakthrough of the year, the industry had ushered in "policy bottom". Huatai securities Executive who asked not to be named said the upcoming Innovation Conference will be the securities industry deregulation of the securities industryMilestone. In fact, regulatory supervision has been changed significantly since last year, and protection system on the basis of risk and liquidity risk, greater emphasis on encouraging independent innovation of brokerage. And the promulgation of the above-mentioned draft will be opened for the independent innovation of brokerage giant space. CITIC Securities Managing Director believes that, for nearly four years, under the securities industry in highly controlled toSuper low operating leverage, innovation almost to a halt, the industry also badly lag the other financial institutions. But this dilemma is expected to be to improve this year, after regulators such as the Innovation Conference deregulation, financial leverage of the industry as a whole will improve significantly, financial product innovation to emerge. In fact, regulator the securities industry has been major issues in the reform of theCollection and research, and in February to inform industry, including the sponsor system and reform of shares system, Exchange bond market development, asset securitization and unified regulation of over-the-counter markets, a number of major issues, a number of significant reform of regulatory policies were ready. In fact, as early as last October 27, issued by the supervision Department of the securities business (product) Innovation guidelines (for trial implementation), identified the securities company to explore for the first time the regulators are not clear and innovative business (product). The Managing Director, CITIC Securities said, indicating that regulatory supervision is supervised by the administrative control to the service changes, as the transfer facility, and margin business-led innovation pilot go general policies implemented, the securities industryBusiness and innovation of business models will emerge, leading innovation policy will give way independent innovation of brokerage. Regulatory reform needed to be at the end of the second quarter performance is by no means limited to the securities industry, also includes encouraging dividends of listed companies, to combat insider trading
tera power leveling, support for old-age pensions and other long-term capital market, encouraging industrial capital increase shares of listed companies to the new rules introduced for the entire capital market reformLeather has been put into practice. At the same time, has rebounded since the beginning of huzhi more than 10%. Accompanied by the trading volume in the stock market rally and continued to enlarge, brokerage and proprietary business benefited from the securities industry. Data show that in February of this year, 18 listed securities companies (including subsidiaries) net profits for all, $ 4.105 billion total operating revenue, rose70%; $ 1.609 billion net profit per cent surge 272%. Northeast securities and guangfa securities is one-month return since the implementation in 2011. However, with the exception of dongwu securities, sea of founder securities and securities without comparable data, listed 15 other brokerages, such as parent company CITIC Securities February total revenues and net income of $ 3.908 billion respectively, and$ 1.574 billion, over the same period last year
tera power leveling, down and 12%, respectively. In this regard, several brokerage executives interviewed by securities times said more than 10% in the recent market rebound, brokerage commissions and link are sharply of proprietary revenue growth, but due to the turnover in the first quarter of last year and base Commission rates are higher, brokerage revenues not only not growing anti-And appeared with the more substantial decline, decline in consolidated net profits over the same period last year. However, if the February performance of listed brokerages process at an annualised, the result is much more optimistic. Joint huatai securities according to measurement data, as at the end of February, 18 listed securities after deduction of the non-core business revenue in 2012 combined consolidated income year 2011333%, that is, in the first 2 months market environment, corresponding to 2012 18 consolidated income of listed brokerages rose 233% the total amount of possibilities.
Changjiang securities analyst Liu Jun believed that usher in a policy and at the end of the securities industry under the background of the healthy development of the capital market, the industry is expected to occur in the second quarter performance compared to positive point. Worthy of attentionIs that several brokerage executives told reporters and securities analysts, the current extent of the benefit broker performance index larger differences. Liu Jun research results show that proprietary securities and guangfa securities brokerages in the northeast of the larger performance rebound more quickly, and some of the smaller net capital of small and medium-sized brokerages are subject to proprietary size, net profits rebounded more slowly. In addition, the journalist survey resultsDisplay, while CITIC Securities, guotai Junan securities net capital of some large brokerages such as stronger, than proprietary scale is far from small and medium securities firms, but due to a large proprietary hedge, 12.36% under the background of CSI 300 index rebounded this year, no small impact on the proprietary business income. However, guotai Junan securities said when interviewed by reporters,Itself is a double edged sword, the brokers ' proprietary hedge to the company last year to reduce losses of hundreds of millions of dollars, but when the index rebound will inevitably affect the proprietary business income.
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