A Shares Open Credit Transactions: 20 Customer Credit Account Appears 157 Shares

After a year and a half, the refinancing finally stood at the door of A shares.

"If not expanded transaction The scope of the subject matter and the introduction of the refinancing mechanism have limited impact on the A share market of the two businesses. Shanghai, a large brokerage company two business leaders have repeatedly told reporters lamented.

In August 19th, the securities and Futures Commission issued the "trial and Approval Measures for refinancing business supervision and management" and related supporting drafts. In addition to deciding to transform the margin trading and lending business into routine businesses, it also indicated that it would introduce refinancing in a timely manner.

For the two financial businesses that have been lame, it is a long-awaited crutch.

Traditional two financial businesses are limited to securities companies using their own funds and their own securities, resulting in margin trading has been hesitant. As of August 19th, the balance of margin in Shanghai and Shenzhen two cities totaled 33 billion 147 million yuan. Among them, the balance of financing is 32 billion 888 million yuan, accounting for about 99.22%, and the margin balance is only 259 million yuan, less than 1%.

Insiders pointed out that refinancing can make up for the limitations of no coupons. Securities companies are allowed to borrow funds and securities from securities and financial companies and lend them to customers.

It is not hard to predict that once we turn in Accommodation In the age of A shares, credit transactions will be more common than they are now.

Credit account first

The opening of two financial businesses has spawned a new class of securities accounts for A shares.

It is known as the "customer credit transaction secured securities account", which is used to record the investors' detailed data of the secured securities held by securities companies for financing purposes.

In the interim period, the accounts of this kind of accounts are more frequent.

According to the financial remittance statistics, as of August 22nd, the listed companies that had announced the 2011 China Daily reported that there were 157 stocks and ten major tradable shareholders, and there were 20 "securities accounts" secured by customer credit transactions.

This figure is approaching the full scale of last quarter.

In the first quarter of 2011, a total of 21 securities brokers under the name of "customer credit transaction secured securities account", ranked among the top ten shareholders of 163 stocks. In view of the fact that nearly 1000 listed companies have not disclosed their reports, the final credit account investment will exceed the first quarter.

However, the 25 brokerages who get the pilot qualification have a high interest in the interest of the two financial businesses.

As of August 22nd, Haitong, Everbright, Huatai, CITIC investment and investment in the number of shares in the forefront; and Zhongjin, the Great Wall, state capital, founder and southwest five brokerages are still missing.

Because the "customer credit transaction secured securities account" reflects the state of financing business, the latter is the absolute main force of the two financial markets, which can almost be judged that the five brokerages in the two quarter rarely get involved in the two financial businesses.

Not only that, except for the Great Wall securities. credit A handful of accounts have appeared on a quarterly basis, and the remaining four companies are still unknown.

Statistics show that the third batch of pilot brokers announced in November 20, 2010, including CICC, national capital, founder and southwest, are fierce competition for licenses. However, the performance of the four brokerages in the past year shows their interest in the two financial businesses.

Specific to the stock market, as at the end of June, the listing of the sub star anchor chain [12.30 -0.24% shares in December 28th last year (601890.SH) was held by Everbright, Haitong and Galaxy 3 brokerages credit account, both of which were new accounts, while the Everbright and northeast two brokerages had their own seats in front of the stock market, and the remaining seats were occupied by individual investors.

Comparing the market performance, it is easy to understand the increase in the number of credit accounts. The first day of the listing of the Yaxing anchor chain was 23.98 yuan, the next day it was 22.50 yuan below the issue price. In August 22nd this year, the stock closed at only 12.30 yuan. Even considering the factors of re weighting, the stock price has fallen more than 40% in 8 months. {page_break}

"The main function of a credit account is to equip investors with securities that are temporarily not used in the hands to invest in other blue chips." A listed brokerage two financial business executives told reporters.

Obviously, the individual shareholders of the Asian star anchor chain temporarily discounted it in the two quarter.

Whose credit account? Although the number of credit accounts can indicate the attitude of shareholders, it is difficult to determine the actual holder of a credit account.

According to the regulation, the current two financial transaction adopts the "two level through looking" account, that is, the collateral securities submitted by all customers in the general securities account of the same broker company, which is classified as the secured account of the broker's customer credit transaction, and then recorded in the customer's name.

This means that, despite the fact that the actual holders of the securities are different, they are embodied in the trading seats and are held in nominal terms by the securities companies.

According to the data of China securities registration Clearing Corp, as of the end of July this year, there were 188 thousand and 638 credit securities accounts in two cities, including 187 thousand and 952 personal accounts and 686 institutional accounts. "In fact, the majority of credit account holders are individual investors, and securities firms and funds are not involved in this transaction. Most of the current institutional accounts are privately owned." The person in charge of Asset Management Department of a listed company disclosed.

However, a notice in Shenzhen revealed the mystery of credit account.

In May 13th, [24.05 announced that it had received notice from shareholders of Zhou Xin steel that as of May 12th, Zhou Xingang and his concerted persons had accumulated 2 million 149 thousand and 100 shares of the company through bidding transactions, accounting for 2.65% of the total share capital in May 13th.

But the company did not list Zhou Xingang on the list of the ten largest shareholders of circulation shares in a quarterly report, instead of "Guoxin Securities Limited by Share Ltd customer credit transaction secured securities account".

The announcement of the Indo China Securities Company specifically stated that the accounts of the above-mentioned Guoxin Securities credit account were for Zhou Xingang and Mrs ZHOU to pledge shares for financing purposes.

According to the announcement of the United States Xinda, the reduction of Zhou Xingang and his concerted operations is actually concentrated in May 11th and 12. In May 11th, the Shenzhen Stock Exchange, which was pushed onto the billboard, showed that the Sales Office of Hongxin Road, Nanjing, sold a total of 46 million 478 thousand and 488 yuan, ranking first in the selling list. According to industry sources, Zhou Xingang's stock account is just opened in this business department as a well-known private person in Nanjing.