Studies On Mode Transition For Operating Management Of Chinese Securities Traders

As Chinese stock market be more standardization and marketization, and the fasten of international expansion, the stock market and security investors have become more and more mature, besides the securities have changed from seller's market to buyer's market. The inner and external contradictions have happened in the revenue model of traditional securities business department, as well as historical changes have occurred in the framework of competition, customers'structure, business structure, product structure and operation model and other relationship on brokerages in stock market business department. The operation management model in Chinese securities traders must adapt to this change.The foreword of this paper is a summary to the background and researching meaning of the selected topic. Meanwhile, it is also a brief description of the research idea and basic structure of the paper.The second part of this paper is an analysis of existing situation of Chinese securities trader business department. The paper analyzes the existing situation of the actual securities trader business department, and then finds out the existing problems in the operation management of Chinese stock market business department, such as similar business structure, homogenization of products and services and so on. As the completion of Chinese reform of the shareholder structure, and the releasing of Stock Index Futures, Margin Trading and other institutionalizing products, securities trader business department will face the unprecedented developing opportunities and space, as well as large challenges, like the business will face the double expansions of scale and variety, and the diversification of the innovating business, etc. From this way, the paper derives how to change the business model to reply to the opportunities and challenges.The third part of the paper is an analysis of inner and external factors on the operation management model of Chinese securities traders. Our securities system have go through from simple to complexity, from primacy to high level and from multiple operation to strict segregation operation. In recent years, the financial innovation have improved financial services, and at present the market still get some multiple operation, at this time, many securities companies and operation departments have actively tried to put on the changes of operation management model. At this part, the writer will start with the profit mode of securities operation department, analyzing the conversion factors on operation management mode of securities operation department. The paper systematically analyzes the present benefit structure of operation department, and introduces the main modes and advanced experience in brokerage business of national investment banks. Through the analysis on benefit structure, at present the main locality of profit which called commission has been cut down year by year, becoming zero commission generally. Meanwhile, other locality of benefit which is margins is shrinking because of the extrusion of multiple operations between commercial banks and the rising of financial products between banks. The income coverage of sales of financing products is reducing, for the indifference and the competitions during financial sales organizations. As these three benefit sources are cutting down, it is extremely urgent for operation departments to change their operation strategies and management modes.The forth part of the paper is a research and discussion on the transition direction of operation management of Chinese securities trader operation department modes. It is the main part of this paper. It refers that the operation strategies should be changed from simplification to diversification, and the operation mode of securities trader operation department should be changed from earning commission into overall serving for customers. The operation mode of securities trader operation department must be changed into taking customers as center, as well as taking price competitions into service competitions, changing access charges into service charges and so on. Finally, the paper takes an innovation research on operation business of securities trader operation department, and put out the new operation mode which integrating of asset management business, finance consultant business and brokerage business.In the final part of this paper, the writer brings forward the design and detailed measures on operation management systems in securities trader operation department which basing on the discussion on operation management conversion, in the practical way. It discusses the changes of operation management of securities trader operation department with detailed operation management solutions, such as the design of organization structure in the securities trader operation department, design of assessment and incentive system, design of brokerage systems, service procedure and so on.The continuous change of stock market is a forever topic, and the development of securities operation department has start the generalization, individuation and difference of securities services. In order to put in an invincible position in this developing market, as an important participant in the market, the securities trader need to innovate continuously, keep on change and exceed themselves constantly.