The Impact Of Margin On China 's Securities Market And The Analysis Of Its Problems

Margin in the United States, Japan, Hong Kong, Taiwan and other countries and regions of the securities market is already a mature trading system on the implementation of a universal From March 31, 2010 in our country officially started, margin trading pilot work by the end of 2014 margin balance has breakthrough 1 trillion mark, along with the development of margin trading in our country, the underlying stocks stock pool expands unceasingly, the increasing proportion of market value, its impact on securities market of our country is increasingly significant margin system can promote the market price discovery, change our country securities market for a long time The pattern of unilateral city, to provide two-way profitable model to the market, is the stabilizer of the market operation.From the concept of margin trading, this paper first studied the margin of its own characteristics, and analyzes its operation mechanism, through compared with some mature overseas stock market analysis, sums up the three typical patterns of credit transactions, and to determine the relative suitable for Chinese market development of double-track mode is similar to our country Taiwan area shall be subject to the centralized credit mode; Through the securities lending and borrowing business development process, present situation and the trend of the research, from the macro economy, investors, securities companies, securities market four aspects analyzes the influence of the introduction of margin trading mechanism in our country Finally, from strengthening the risk management of securities lending and borrowing business and perfect the relevant rules and regulations for the construction of the securities lending and borrowing from two aspects to perfect our country the development of the securities lending and borrowing business in addition to advice.