Research On Establishment And Realization Of Pledge Of Margin Account

With an increasing number of borrowing needs of individual consumers and small and medium-sized enterprises,the innovation of trading mode became to be an necessary choice.And then margin account pledge became to be one of the innovative mode in accordance with the needs.The common mode of margin account pledge is as following: the bonding company use its margin account set in the bank as guarantees for borrowers,and the bank accept this guarantee and then issue loans to borrowers.If borrowers do not pay back as schedules,the bank has the right to realize its pledge with margin account funds of the bonding company.It can be drawn that margin account pledge has many advantages,such as that it is easy and simple to handle and it does not float with its value,and its low cost for enforcing the right,but as the deficiency of the current laws and regulations and the lack of standardization in Financial industry,relevant disputes of this mode frequently happened.In the judicial practice,the dispute of the pledge of a margin account mostly happened in the phase of realization of pledge.The factors which influences the realization of pledge are the establishment of pledge of right,the way to realize the pledge,the validity of priority in pledge.This paper takes the establishment and realization of margin account pledge as study object,combines the empirical analysis,comparative analysis,document analysis and also theoretical research to discuss the margin account pledge on its business mode,the character of right,the requirement of validity,the way to realize the pledge,the validity of priority in pledge.Based on the comprehensive analyses of the current laws and regulations,it reforms the condition of establishing the pledge of margin account,and provides some simple idea about the publicity ways of the pledge.In addition,by analyzing the current practice in financial industry and judicial practice,it discusses the way to realize the pledge,the validity of priority in pledge.This dissertation tried to provide much more protection of enforcing the pledge.Except the preface and conclusion,this dissertation is made of four parts as follows:The first part,introduces the business mode of pledge of margin account and the specific implement progress in the commercial bank.Base on this introduction,it defines the pledge of margin account and compares the relevant definition.And then discusses the character of pledge of margin account.The second part,reforms the condition of establishing the pledge of margin account,anduses the regulation of deposit account in the US Uniform Commercial Code as reference to reform the condition of establishing the pledge of margin account in accordance with the regulation on special movable property rights change rule and the ways of demonstration.It completes the way of demonstration of pledge.The third part,researches on the realization of pledge in the process of the realization of the pledge.Analyses of the rights of the pledgee,demonstrates the way to realize the pledge,the conditions for the realization of pledge,the way to protect the third party.The forth part,researches on the priority of compensation in the process of the realization of the pledge.Demonstrates the scope of validity of the priority of compensation,the conflict between the priority of compensation and enforcement,the right remedies of the pledgee.The fifth part,completed the regime of pledge of margin account,and provide some simple advices of if legislative can stipulate the relevant problems and how it can be.It made some advices on standardizing the progress to protect the enforcement of mortgage of creditors.In addition of that,to guarantee the safe of trading,interests of creditors and the relevant people,it also made some simple advices on publicity and system of registering.