"Broker" refers to a company or securities company engaged in securities trading. There are CITIC, Shen Yin Wanguo, Qilu, Yinhe, Huatai, Guo Xin and Guangfa in China. In fact, it is the agent of Shanghai Stock Exchange and Shenzhen Stock Exchange.
At present, there are 106 securities companies that meet the requirements of * * * in China, among which 20 companies entered the ranks of AA-level securities companies in 20 14 years. The 20 brokers who obtained AA-level securities include: Jing Gaohua, Huaxi Securities, orient securities, Shen Yin Wanguo, Guangfa Securities, Southwest Securities, Guo Jin Securities, Industrial Securities, CDB Securities, Galaxy Securities and Guotai Junan.
Many of these companies are on the AA rating list for the first time. It is worth noting that no brokerage firm was rated as the highest AAA, and no brokerage firm was rated as a D or E company.
It is reported that securities companies are divided into five categories: A(AAA, AA, A), B(BBB, BB, B), C(CCC, CC, C), D and E, and the level is 1 1.
Companies at all levels in categories A, B and C are normal operating companies, and the division of their categories and levels only reflects the relative level of their risk management capabilities in the industry. Class D and E companies are companies whose potential risks may exceed the company's tolerable range and take risk disposal measures according to law.
Securities are essentially civil rights with property attributes. The characteristic of securities is that civil rights are embodied in securities, so that rights are combined with securities, and rights are embodied in securities, that is, rights securitization. It is a legal phenomenon in the form of securities in the way and process of rights holders exercising their rights, a social phenomenon of symbolization of investors' investment property, and a sign and result of developed social credit.
Securities must be associated with specific forms of expression. In the development of securities, the earliest basic way to commend securities rights is paper, and the specific rights are expressed in words or graphics on special paper.
Therefore, securities are also called "documentary evidence" and "documentary evidence". However, with the rapid development of economy, especially the development of electronic technology and information network, paperless securities have appeared in modern society. Securities investors almost no longer own any securities in the form of physical coupons, and the number of securities they hold or the securities rights are recorded in the investor's account accordingly. The development process from "paper securities" to "paperless securities" reveals the great differences between modern securities concepts and traditional securities concepts.
As a written document commending certain civil rights, securities have the following basic characteristics:
Securities are certificates of property rights.
Securities are documents of rights with property value. In modern society, people are not satisfied with the direct possession, use, income and disposal of wealth, but pay more attention to the ultimate domination and control of wealth, and securities, a new form of property, came into being. Holding securities means that the holder has control over the property represented by securities, but this control is not direct control but indirect control.
For example, if a shareholder holds shares in a company, he/she will have control over the company's property according to the proportion of his/her shares in the total issued shares of the company. However, he/she cannot claim the right to directly possess, use, benefit and dispose of the property of a specific company, but can only enjoy the owner's right to benefit from the assets, the right to make major decisions and the right to choose managers in proportion. In this sense, securities are the product of capital accumulation with the help of market economy and social credit development, and securities rights show the nature of property rights.