| Securities online trading is a new stock swap model by the Internet technology, and is the progeny of new technology and traditional field. The influence of the application of securities online trading on the traditional stock swap is long and is a big challenge to the securities managers' business. For the securities managers, securities online trading is not only a technique issue but also an issue of management philosophy and service model.Using the methods of specs analysis and historical analysis, the article begins with the combination of theory with practice to explain the research models by two ways. One way is based on the research results of qualitative analysis, while the other way is to introduce some typical cases. Consequently the article provides theoretical instructions and evidences for the securities managers' striking some effective strategies to develop securities online trading and cut down the cost, and makes many investors get a deep knowledge of the model of securities online trading.The article divides five sections logically. The first part defines securities online trading, introduces its development both at home and abroad, and interprets its importance. The second part introduces some typical models of securities online trading. The third part interprets three theories of cost & benefit, strategic alliance, and concentrated swap, and analyzes the roles of these theories in the model of securities online trading. The fourth part makes concrete analyses of these segmentation models in China from the angles of three theories, on the base of segmenting the model of securities online trading to administration model, service model and technology model. The fifth part makes explorations into the future models of securities online trading in China, offers the models of Internet Only Securities Trading and combination Internet with no Internet, and presents the problems about security, legislation and service now facing it and corresponding suggestions. |
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