A: Securities companies are the main intermediaries in the securities market and play an important role in the operation of the securities market. On the one hand, securities companies are providers of investment and financing services in the securities market, providing specialized intermediary services for securities issuers and investors, such as securities brokerage, investment consulting, sponsorship and underwriting. On the other hand, securities companies themselves are also important institutional investors in the securities market.
2. What are the main businesses of securities companies?
A: The main businesses of securities companies include securities brokerage business, securities investment consulting business, financial consulting business related to securities trading and investment activities, securities underwriting and sponsorship business, securities proprietary business, securities asset management business, margin financing and securities lending business, securities company intermediary introduction (IB) business and direct investment business.
3. What is the securities brokerage business?
A: Securities brokerage business, also known as buying and selling securities on behalf of customers, refers to the business in which securities companies accept clients' entrustment to buy and sell securities on their behalf. In securities brokerage business, securities companies only charge a certain percentage of commission as business income.
At present, China's public offering and listing of stocks, corporate bonds, warrants and other securities are conducted in an open and centralized way. Securities companies engage in brokerage business mainly through the stock exchange to buy and sell securities on behalf of customers.
4. What is the securities investment consulting business?
A: Securities investment consulting business refers to the activities of institutions and their consultants engaged in securities investment consulting business to provide securities investment analysis, prediction or advice to securities investors or customers, as well as other direct or indirect paid consulting services.
Verb (abbreviation of verb) Q: What is the securities underwriting business?
A: Securities underwriting refers to the act of securities companies issuing securities on behalf of securities issuers. Where the securities publicly issued by the issuer to unspecified objects should be underwritten by a securities company according to laws and administrative regulations, the issuer shall sign an underwriting agreement with the securities company. Securities underwriting business can be commissioned or underwritten.
Securities underwriting refers to the underwriting method in which a securities company buys all the securities of the issuer according to the agreement or buys all the remaining securities after selling by itself at the end of the underwriting period. The former is underwritten in full, and the latter is underwritten in balance.
Securities consignment refers to the underwriting method in which securities companies sell securities on behalf of issuers and return all unsold securities to issuers at the end of the underwriting period.
China's Securities Law also stipulates the underwriting method of the underwriting syndicate. According to the provisions of the Securities Law, if the total face value of securities issued to unspecified objects exceeds 50 million yuan, it shall be underwritten by an underwriting syndicate, which consists of the lead underwriter and the securities companies participating in the underwriting.
6. What is the securities proprietary business?
A: Securities proprietary business refers to securities companies buying and selling securities, government bonds, RMB bonds of international development institutions, central bank bills, financial bonds, short-term financing bonds and corporate bonds listed on domestic stock exchanges in their own names or with funds raised according to law.