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Stock two thawing customers can roll over deposit rate remains unchanged

Stock two thawing customers can roll over deposit rate remains unchanged

recently, the Shanghai and Shenzhen exchanges giving the securities companies on margin adjustment notice of preparation work.  Notification clearly two thawing customers can roll over existing margin remained unchanged.

earlier, investors in Shanghai and Shenzhen Stock Exchange announced that it would buy securities financing margin financing minimum percentage is increased from 50% to 100% of the new requirements, and come into effect on November 23 this year.  But this adjustment only for new financing contracts, for the existence of the rule prior to the introduction of margin contracts will go on relevant provisions prior to implementation.  

while this notice is clear, this adjustment does not affect the new regulations before the implementation of the outstanding financing contracts and extensions.

Shanghai brokerage margin Department told reporters that the notification identified two thawing customers can be done through the extended maintenance of the stock the margin are not adjusted.  Assuming that the customer's existing contract margin of 0.7 per cent of the stock, the customer on November 24 handled a contract extension, you can still maintain the current margin unchanged at 0.7.

according to the newly amended two financial management approach customers before the contracts expire, securities company based on customer applications for customers roll over each extended term shall not be longer than the period prescribed by the stock exchange.

in this regard, the head of brokerage margin said, securities firms are usually renewed once every six months, and there is no limit on the number, which means investors could theoretically be extended numerous times, to retain the current margin unchanged. In their company, for example, the customer can be allowed to roll over twice. But the continuous extension with the assumption of the maintenance margin level, is difficult to achieve in practice. Because as long as the investor to sell the stock, the system default sell repayment, contracts will be closed.  New opening that is calculated according to the new margin.

in addition, in order to better achieve the "new and old broken", Exchange customers available balance calculation of margin requirements.  Requirements for "customers of the outstanding margin trading on margin," part of the calculation, according to customer's actual financing buying margin or margin calculation of selling, cannot be adjusted proportional back calculation.  

notice also requires brokers to ensure that two melting technology adjustment system to ensure comprehensive support for margin, is the subject of vouchers range, offset by margin stock types and dynamic adjustment of conversion rate, such as flexible and differentiated control.

from the perspective of two recent financial data, with the market shocks up, rising investor enthusiasm finance and leverage. Two financial balances for 11 consecutive trading days in the month continued to rise.  17th, the two cities of margin balance totals 1,197,734,000,000 RMB, representing an increase of 17.64 billion yuan the previous trading day, when net purchases amounted to 17.586 billion yuan.

market participants believe that raising the minimum margin adjustment to market with a new broken old smooth transition. Higher financing margin, reduce leverage new open financing contracts, to guard against systemic risk, promote sustainable and healthy development of the market.

 

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