Category: Money Tips Date: 2007-08-03
【According to Xinhua News Agency, Shenzhen, 22nd - Experts on the 21st, according to the Shenzhen Stock Exchange rules on the interpretation of margin trading, investors involved in margin trading, you must first pass the pilot broker credit agency. Investors such as securities firms can not meet the credit requirements the pilot, in which the broker network less than six months engaged in securities trading, transaction settlement funds not included in the third-party depository, securities investment experience, lack of risk-bearing capacity, or a material breach records, etc., are shall not engage in margin trading business.
Experts said the pilot margin trading in accordance with the Commission Regulations the relevant provisions of the pilot broker providing margin trading services to investors before the investors should be aware of the identity, property and income, securities investment experience and risk preferences and so on. (Send "YXAP" sent to 2.9116 million mobile subscribers, China Unicom users sent to 9.9016 million you can get,
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According to reports, investors to participate in margin trading, expanding the trading chips, with a certain degree of financial leverage effect, where possible, improve the investment income also amplifies the risk. Therefore, we must attach great importance to risk management.
Investors to brokerage margin trading prior to the signing according to the provisions of margin trading and brokerage contracts, as well as the book reveals the risk of margin trading and securities commission brokerage accounts opened credit accounts and credit funds. Investors can only select a brokerage margin trading contracts entered into, in a stock market can only be entrusted to the securities brokerage to open a credit account.
Investors Securities Lending shall not be less than the selling price of the securities reported the most recent transaction price; if the stock traded that day has not yet produced, and Securities Lending shall not be less than the selling price before the declaration of the closing price. Securities Lending selling price is lower than the declared price, the transaction host to declare them as null and void, revoked automatically. Investors in the Securities Lending sold during the period, through its ownership or control of securities account held by the securities and its integration into the same securities, and its selling price of the securities should not be less than a recent bid to meet the requirements, but exceed the number of Securities Lending part of the exception. Experts say such an arrangement is to prevent the risk of market manipulation.
Investors to finance purchases of securities, you can sell tickets through direct payment or reimbursement of loan repayment into the fund. Investors to direct payments into the fund for reimbursement, by agreement between the handle and the broker; has been selling tickets into the repayment of funds to repay the investors through its brokerage commission to sell credit securities account for securities settlement, when investors the direct transfer of funds derived from selling the securities to the brokerage financing private accounts. Investors to sell credit securities account securities the funds required to give priority to repayment of its debt financing.
Investors Securities Lending sell, you can also through direct vouchers or coupons to buy vouchers for reimbursement of further integration of the securities. Investors also vouchers for reimbursement of direct integration of securities, by agreement between and brokerage, as well as exchange registration and settlement agencies for the designated regulations. In order to buy a voucher coupon also pay into the securities, investors through its brokerage commission to buy credit securities account for securities registration and settlement when the settlement directly to investors to buy the securities transferred to the private Securities Lending securities brokerage accounts.
Experts say investors should not be used to buy credit securities account, or diversion of collateral and transactions among the underlying securities issued outside the scope of securities. Meanwhile, in order to avoid confusion in legal relations, investor credit securities account shall not be used in bond repurchase transactions.
