| Nowadays people a believing that the main course of China's stock market disaster happened in 2015 is the use of leverage and the accumulation of liquidity risk in the stock market,the break of bubbles in the stock market can lead huge loss for investors.Security margin trading is a typical leverage.For the stock brokers,how to design their security margin trading business and how to ensure its execution to control risks is a meaningful topic.For investors,how to lower the risks is also a problem which worth noticing.In this thesis,the basic theories about security margin trading is recalled and analyzed includes the definition and features of security margin trading and its significance and drawbacks.The security margin trading in the U.S.,Japan and China Taiwan is analyzed and compared.Then China's security margin trading is analyzed using SWOT model.In the designing of security margin trading,the design philosophy and overall design idea is discussed.Then the business decision model,authentic system,client picking,interest collecting is designed.Finally,the implementing guarantee measures are discussed.A product based by security margin trading is designed.The research show that being different from normal stock broke business,security margin trading has unique requirement in business model,risk control and requirement of information.For a security company if it has no well-designed business plan and risk control system,its security margin trading is easy to lose control.The core design of a security margin trading is its investigation of client and authorization of credit.Another important thing is the control of business,risk and forced liquidation,and these can control the risks and make profit for the company. |
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