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证券公司可支配资产的多少是决定其市场竞争力的重要参数之一。因此,国内外券商都非常重视融资融券业务。由于我国股票市场还没有做空机制,因此目前国内券商尚无法进行融券交易。关于我国证券金融公司制度框架和运作机制,笔者作以下的讨论。1、自有资本的筹集从股东结构上看,日本和台湾的证券金融公司的最大股东都是各类金融机构,包括商业银行和交易所,这使证券金融公司具备了较高的信用水平和中立性,值得我国借鉴。未来我国的证券金融公司,可由商业银行、证券交易所以及其它有实力的投资公司、信托公司、证券公司共同
Securities companies how much disposable assets is one of the important parameters to determine their market competitiveness. Therefore, domestic and foreign securities companies attach great importance to margin trading business. As China’s stock market has not short the mechanism, the current domestic brokerage still unable to carry out margin trading. About China’s securities and financial companies institutional framework and operating mechanism, the author made the following discussion. 1. Own Capital Raising From the perspective of shareholder structure, the largest shareholders of securities and financial companies in Japan and Taiwan are all kinds of financial institutions, including commercial banks and exchanges, which give securities and financial companies a high level of credit and Neutrality, it is worth our reference. The future of our country’s securities and financial companies, by commercial banks, stock exchanges and other powerful investment companies, trust companies, securities companies together