The Impact Of The Internet On The Stockbroking Industry

This paper relates to the great changes of the stock brokerage in China which took in recent years along with the fast development of the Internet. It mainly addresses the following issues:The inevitability of the effects of internet on the stock brokerage are discussed by describing the changes of the market demand and supply in securities brokerage caused by the development of the internet, basing on the inherent close relationship between the information technology and the financial industry;The effects of the Internet on each business of the securities brokerage are discussed concretely;The inherent rules for the changes are analyzed and discussed under the economic theories;The advises under the current Internet circumstance for the securities brokerage firms are proposed basing on the above discussions.Since the information occupies an important position in the security market and the Internet is a representative product of the information technology, in the process of economic analyzing, this paper defines the information as a product in the securities brokerage market and treats the information technology as the productive technology, under the theories in Western Economics, Financial Intermediaries and Information Management. Furthermore, the effects on the information production caused by the development of production technology (the application of the internet in this industry), and the changes of the securities brokerage caused thereby are discussed in detail, from the view of securities brokerage information production.