The Research On Security System Of Margin Trading

With the continuous development of China’s economy, the securities trading as the representative of the financial activities will be more active. Margin trading as a late in the development of our country’s securities trading. It has increased liquidity in the market, stimulate capital turnover advantage indispensable. Throughout the financial world developed areas without the securities transactions. China started the pilot work in March 21, 2010, before the start of the pilot work has also developed a securities company Margin pilot management approach to prepare for the business in advance. While the margin trading has its advantages, but the margin trading is born with the "high leverage" to the security market is not a small risk. Therefore, it is very necessary to design a set of effective securities lending and loan guarantee system. However, at present in our country, the financing securities loan guarantee did not set their own independent operating mechanism, but to borrow the trust mechanism to regulate, such a mechanism caused by the problem of security margin trading with other laws and regulations to avoid conflicts and interests of the parties to the relationship between dislocation, so to finance developed countries learning to introduce the system of alienation guarantee and the establishment of China’s margin trading system becomes very necessary.In this paper, in the margin trading, the entire process analysis of problems existing in the current our country financing securities loan guarantee system, that transferring guarantee for become our margin transaction guarantee system, and therefore put forward specific legislative measures. Specific content is divided into four parts: 1. In this paper, the first part is the basic theory on the margin and the margin guarantee system to sort out the main highlight the margin guarantee system for the smooth development of the margin trading and risk control plays an important role in our study of the margin guarantee system must be based on margin trading the characteristics of the background; 2, the second part of the law of our country the relevant provisions of the margin guarantee of the carding and analysis of the margin guarantee system and the operating mechanism of the margin guarantee legal relationship that present margin guarantee system, including the system structure, the conflict with the existing laws of the trust security system the margin guarantee system in the interests of dislocation. 3, the third part describes the foreign law, on behalf of the national financing securities loan guarantee system, and summed up the United States, Japan and China Taiwan region of transferring guarantee is recognized, it is our country’s financing securities loan guarantee problem provides a solution; 4, the fourth part, an in-depth analysis is made on several main theory to solve the problem of the financing securities loan guarantee in our country., combined with the advanced experience of foreign countries, points out that the transferring guarantee in our country have practical basis, also can be in conflict with the existing laws to overcome. Therefore, the guarantee for the transfer of security system as the margin.