Research On The Bond Pledged Repo Trading Risk Control Of G Securities Company

In recent years,with the increase in bond market size,bond pledge repo transaction volume has hit record highs,but at the same time the bond pledge repo leverage has gradually increased.In the case of rising leverage,and in the wake of the default in the bond market,the risk of bond pledged repo trading is also becoming risky.Therefore,this paper takes the risk control of G securities company bond pledged repo leverage trading as the research background,and hopes to conduct a special study to analyze the problems existing in G securities company's current risk management control,and try to the existing business model and The risk management process makes recommendations to provide guidance for the follow-up risk management of G Securities,and provides some improvement ideas for China's bond risk management.This paper uses comparative analysis method,case analysis method and other research methods,and intends to analyze the problems existing in the three stages of risk prevention,risk monitoring and emergency treatment.Based on the detailed problem analysis,and finally put forward the following risk improvement measures: First,establish a comprehensive risk prevention mechanism: guide all employees to pay attention to risk identification and establish risk control-oriented performance appraisal,treat product households differently,and raise investor risk awareness;Second,improve the risk monitoring mechanism: give the securities company the pricing power,improve the immediacy of the bond pledge rate announcement,and propose a new model of bond pledge based on the securities company as the pledge counterparty;third,establish a offset mechanism: compare It analyzes the futures offset mechanism and proposes a closing mode that conforms to the bond pledged repo offset model.Fourth,to reduce the risk of the bond,it is necessary to improve the approval requirements and improve the quality of approval.The purpose of this paper is to reduce the risk of G securities company bond pledged repo trading business,improve the domestic bond market risk management level,and promote the long-term healthy development of China's bond market.