發(fā)布時(shí)間：2018-08-03 12:48

【摘要】：我國券商長期以來利用制度紅利和牌照賺取高額通道費(fèi),業(yè)務(wù)模式以通道業(yè)務(wù)為主。然而,股票發(fā)行注冊制的推出,傭金費(fèi)率的下降等行業(yè)趨勢越發(fā)明顯,證券公司必須推動(dòng)代客理財(cái)業(yè)務(wù),進(jìn)入"管理費(fèi)+業(yè)績報(bào)酬"的新模式,將財(cái)富管理和資本中介作為轉(zhuǎn)型方向。尤其是資本中介業(yè)務(wù),不僅有融資融券、股票質(zhì)押規(guī)模擴(kuò)大推動(dòng)了需求的快速增長,還有凈資本約束放松、券商多渠道融資體系逐漸完成所帶來的供給端擴(kuò)張。
[Abstract]:China's securities companies have long used institutional dividends and licences to earn high channel fees, and the business model is mainly channel business. However, with the introduction of the registration system and the decline of commission rates, the trend of securities companies has become more and more obvious. The securities companies must promote the business of managing money for clients and enter a new model of "management fee performance reward". Take wealth management and capital intermediary as the transformation direction. Especially the capital intermediary business, not only has the financing margin, the stock pledge scale expansion has promoted the fast growth of the demand, but also the net capital restriction relaxes, the securities company multi-channel financing system gradually completes the supply-side expansion which brings.
【作者單位】： 華夏銀行博士后工作站;
【分類號】：F832.51
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本文編號：2161795