I. Nanjing Securities
Established in 1990 and headquartered in Nanjing, Nanjing Securities Co., Ltd. is the first professional securities company in Jiangsu Province and the first batch of standardized securities companies in China. In 2005, it was entrusted by China Securities Regulatory Commission to manage Northwest Securities Co., Ltd., and in July 2007, it was qualified as an innovative pilot securities company. Nanjing Securities Company has a registered capital of 177 1 billion yuan and a net asset of more than 3 billion yuan. It is an innovative pilot brokerage firm with moderate scale, complete platform, remarkable performance and distinctive features in China, and it is also the only securities company in China that has never lost money, sustained profits and high returns for 23 consecutive years since its establishment. In the domestic industry comprehensive index rating, Nanjing Securities has been promoted to securities company.
Two. OTC option business of securities companies
1. Securities companies conduct OTC options business and are divided into primary dealers and secondary dealers.
2. Securities companies that have been classified as Class A and above AA in the last year have been approved by the China Securities Regulatory Commission; Securities companies can become primary dealers after approval, and securities companies with a classification rating above A level in the last year can become secondary dealers after being filed by China Securities Association (hereinafter referred to as the Association). Securities companies that have not become dealers may not engage in OTC options business with customers.
3. A primary dealer may open a special account for individual stock hedging transactions in the Shanghai and Shenzhen Stock Exchanges and directly conduct hedging transactions.
A primary dealer shall decide whether to accept a single hedging transaction of a secondary dealer according to its own contract design requirements and the scope of the subject matter. A primary dealer shall establish a fair and just quotation mechanism for individual stock options, and shall not take advantage of its trading advantages to conduct unfair competition.
4. Secondary dealers can only hedge individual stocks with primary dealers, and may not hedge individual stocks on the market by themselves or with counterparties other than primary dealers.
According to the classified supervision regulations, securities companies have some illegal acts, such as misappropriating customers' assets, illegally entrusting wealth management, false financial information, malicious evasion of supervision, false capital contribution by shareholders, and withdrawing capital contribution. During the evaluation period, the company classification results will be lowered by three grades; If the circumstances are serious, the company's classification results are directly identified as D-level, and the risk management ability of D-level brokers is low, and the potential risks may exceed the company's tolerance.