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Data:2009-12-12 2:34
(A) the introduction of stock accounts
Customers wishing to enter the market must first open a stock account, stock account is permit investors to enter the market, only have it in order to approach the sale of securities. In Shenzhen, also known as shareholder equity account code card.
1, the introduction of stock account the need to provide documents. The stock account can be divided into two kinds of personal accounts and corporate accounts. Individual accounts, individual investors must hold a valid identity document (usually my identity card). Information required for corporate accounts are: effective corporate documents (business license) and its photocopy; legal representative of a certificate of his own identity, legal power of attorney and trustees identity card. Shanghai Stock Exchange, stock accounts owned by the company's centralized management of securities registration, the specific account opening procedures commissioned institution. In the Shenzhen Stock Exchange opened stock accounts, in addition to providing their own identification cards, the need to provide specified bank passbook. Opening in Shenzhen, Shenzhen securities registration company by the uniform acceptance. Natural or legal persons can be chosen by the location of securities agency securities registration authorities to open an account.
2, the introduction of stock account of the necessary information. Individual investors to open stock accounts should provide details of himself and the client's detailed information, including himself and the client's name, gender, identity card number, home address, occupation, contact phone. Institutional investors should provide a legal address, telephone number, legal representative and authorized the Securities and Exchange executor's name, sex, written power of attorney, bank accounts and account number, zip code, institutional properties.
3, the basic conditions for the introduction of stock accounts. According to the relevant provisions of the following persons shall not handle the stock accounts:
â‘?Securities competent authority to manage the securities of the relevant personnel
â‘?Stock management
â‘?securities institutions and stock issuance or transaction directly related to personnel â‘?with the issuer has a direct relationship between the executive under the authority or management staff
â‘?other stock offerings or transactions related to insider
In handling the Shanghai Stock Exchange's equity securities account, you must apply for the designated transaction, you can specify the account at a securities business office transactions. Transactions can always apply for such designation may also be withdrawn at any time. Opening of the Shenzhen Stock Exchange after the stock account can only be handled at the designated institution entrusted the sale of the securities. For investors in other securities institutions commissioned, it must first apply for transfer hosting procedures.
With the development of securities markets, the stock account functionality is not limited to, the stock has been extended to the fund, equity card, paperless government bonds.
(B) open a capital account
Apply for the stock account and need to apply for financial accounts.
Currently in Shanghai Stock Exchange system, capital account in the securities agency office opened, and only valid in the agency office. Securities institutions by bank account interest rates to investors, capital account to pay interest on deposits. Capital account opening documents and information required for essentially the same as the stock account.
Card account. Currently the stock account and capital account combined capabilities of the card account is also becoming more common, so that after the interconnection of the entire capital account, you can focus on handling the liquidation.
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(C) Customer Orders filled
Customers in completing the stock account and capital account to enter the market immediately after the sale, the customer fill in the trading of securities entrusted to customers and securities firms alone, to determine agency relationship between the document and has legal effect. Orders are generally two together, or triple, a joint review by the Securities Dealers stamped confirmation by the customer, according to a joint by a securities dealer to perform. After the sale transaction, the customer went to securities dealers With Orders Department to process the clearing and settlement. If the transaction results and the content does not match a single commission, the customer present their dealers commissioned by a one-way representations have been made to protect their legitimate interests.
(D) securities dealer receiving commission
Commission include a review of the admissibility of Securities Dealers, to declare the input three basic aspects. At present, except the three components of this traditional approach, there are two ways: First, review, reporting, enter the three-link coherent, customer input into the computer with automatic commissioning method, computer examination and confirmation, direct access to the premises mainframe computer; Second, securities dealers to accept commission review, direct computer input.
(E) match deal
The modern stock market operates on a transaction automation and the paperless transfer of shares of liquidation and is characterized by the computer matching program is focused on trading operations: the trading of securities dealers reporting from the terminal input, each of a number commissioned by the commission (ie, client in the contract when the serial number), the sale of distinction (0,1, respectively, said input), the Securities code (input with the specified 4 or 6 digit number, while the echo when the securities are listed with the Chinese name), commissioned by hand the number of commissioned the limit, effective information on the composition of a few days and so on. The computer according to the input bid information processing (sub-call auction and continuous auction), according to price priority and time priority principle of auto-match transactions.
(Vi) clearing and settlement
Clearing refers to securities buyers and sellers of securities trading in the stock exchange transactions, the securities companies through the stock exchange trading of securities between the number and amount to be offset, respectively, calculate accounts receivable, to cope with the Securities and cope with the difference between money paid for shares of a kinds of programs. Shenzhen City is currently focused on clearing and decentralized registration model, the Shanghai stock market is focused on clearing and centralized registration model, in which no detail.
Delivery refers to the investors and securities firms entrusted with handling the sale and purchase transactions of shares of capital and liquidation of the business procedures, Shanghai and Shenzhen both transactions are focused on clearing under the principle of net settlement processing.
(Vii) transfer of ownership
The so-called transfer is to apply for settlement after settlement, the original user name change to sell the securities to buy securities username. For registered securities is concerned, only the transfer of those who completed the entire transaction process is completed, only that has a complete ownership of securities. At present two individuals Stock Exchange stock investors usually do not need to personally handle transfer procedures. A stock transaction that is completed according to the above-mentioned procedures.
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