融资融券业务对证券市场主体的影响

The Impact of Margin Financing and Securities Lending Business on the Main Body of the Securities Market

融资融券的含义是证券公司向客户提供资金或证券供其买卖,最早起源于美国,是目前各金融发达国家的主要金融工具之一。我国融资融券业务开展的较晚,2010年开始进行融资融券的试点工作,直至今日还未形成稳定成熟的融资融券市场。融资融券业务不仅可以刺激A股活跃度、扩大证券公司客户资源、增加利息收入、增加中间业务收入、为银行提供新的利润和机会,还可以有效改善券商的生存环境,是构建多层次证券交易业务的基本元素。但是,在看到融资融券业务利好的同时,也应该注意到其对金融体系稳定性造成的威胁。所以,本文针对这些问题进行研究,希望通过本文的研究能够分析融资融券业务对证券市场主体的影响,并针对现阶段的问题提出相关优化建议,以期对我国融资融券业务和证券市场的良性运作有所助益。

The meaning of margin financing and securities lending is that securities companies provide customers with funds or securities for their trading.They originated in the United States and are one of the major financial instruments of financial developed countries.China's margin financing and securities lending business was launched late.In 2010,the pilot work of margin financing and securities lending began.So far,a stable and mature margin financing and securities lending market has not yet formed.The margin financing and securities lending business can not only stimulate the activity of A shares,expand the resources of securities companies,increase interest income,increase the income of intermediary business,provide new profit opportunities for banks,but also effectively improve the living environment of brokers.The basic elements of the trading business.However,while seeing the benefits of the margin financing and securities lending business,it should also be aware of the threat it poses to the stability of the financial system.Therefore,this paper studies these issues,and hopes that the research of this paper can analyze the impact of the margin financing and securities lending business on the main body of the securities market,and propose relevant optimization suggestions for the current stage of the issue,with a view to the benignity of China's margin financing and securities lending business and securities market.The operation is helpful.