The annual incremental income of the science and technology board is expected to exceed 10 billion yuan. 8 securities firms want to grab the first batch of pilot qualifications

20JUN

Text | Zhou Shangzheng

On May 13th, the CSRC issued the "Provisions on the Pilot of the Stocks of the Securities Company's Science and Technology Board of Science and Technology Board", and in order to obtain the first batch of pilot qualifications, many brokerage firms actively prepared related matters. As of now, eight securities firms have publicly stated that they plan to apply for science and technology board stocks to do the market trading business. It has been nearly three years since the opening of science and technology Banming Gong. Wind data shows that as of the end of the lock -up, science and technology board stocks have brought a floating profit of more than 62 billion yuan to strategic investors. The introduction of the business mechanism for the introduction of the science and technology board will also bring a certain incremental income to securities firms. According to Caitong Securities, assuming that the market value of the securities firms is between 1%and 4%, the total size of the science and technology board is expected to be between 50 billion and 210 billion yuan. After the introduction of the introduction of the market business, the transaction volume increased to 55 billion yuan/day, the market price difference was 0.5%, and the proportion of market transactions accounted for 20%. It is expected that the annual income income will be about 10 billion yuan to 13 billion yuan. Yuan; calculated by 90%of the profit margin, the incremental profit brought about was about 9 billion yuan to 11.7 billion yuan. In response, Chen Li, chief economist of Chuancai Securities and director of the Institute, said in an interview with the Securities Daily reporter: "There is a certain threshold for a city broker for the science and technology board. In particular, there are securities firms with a large amount of funds and outstanding brokerage business. "In this context," strive to become the first batch of science and technology boards as a city merchant "to become the consensus of many brokers. In terms of municipal commercial standards, a total of 26 securities firms currently meet the capital strength (the net capital in the past 12 months has continued not less than 10 billion yuan) and compliance risk control capabilities (in the last three years of classification rating in Class A -level A -level A level The above) two "hard indicators". Among them, eight securities firms including China Galaxy, Guoxin Securities, Oriental Securities, Founder Securities, Zhejiang Business Securities, Guojin Securities, Soochow Securities, and Caitong Securities have publicly stated that they plan to apply for science and technology board stocks to do the city trading business. The significance of the development of science and technology board stocks to do the city trading business. Guoxin Securities said that first of all, it is conducive to improving the company's ability to do the market transaction; secondly, it is conducive to forming an effective linkage with business such as investment banks and other aspects, and enhances the company's market influence in the head securities firms. In addition It is conducive to seizing the science and technology board business high. Of course, not only the above eight brokers, but most of the currently in line with the "hard indicators" of access to the "hard indicators" have begun to promote the application pilot qualification and actively prepare related matters. On the third anniversary of the science and technology board opening, a large number of restricted stocks are about to usher in a lifting of the ban, or it will have a certain impact on the turnover rate. The introduction of a market business system, which is continuously reported from the market to the market to report the sale price, which is conducive to improving the liquidity of the market, restraining market fluctuations, and increasing market activity. Soochow Securities believes that in a market with good liquidity, market participants with software and hardware advantages implement high -frequency market strategies to provide liquidity to the market spontaneously. In a market with poor liquidity and reverse selection of risks, the city merchants have assumed a lot of risks while passively fulfilling the obligations of the bilateral quotation. At this time Risk compensation. In addition, as a qualification business, the city merchants can cooperate with other licenses business. Zhang Qiyao, chief strategy analyst of Xingye Securities, said, "Although the science and technology board is quite large, the activity still needs to continue to increase. Since September last year, the transaction of science and technology boards accounts for A shares. Probes. Compared with other A -share sectors, if the turnover/market value is measured, the overall liquidity of the science and technology innovation board is not only significantly lower than the GEM and the main board. Problems such as high threshold for investors and poor liquidity of some individual stocks have gradually emerged. The introduction of the marketing system is conducive to improving the liquidity of science and technology boards. "

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