Related News
5 firms win rights to deal in margin trade
By Winny Wang |
June 9, 2010, Wednesday
|
Online Edition
Online Edition
CHINA'S securities regulator gave the green light today to the second batch of five securities firms to deal in margin trading and short-selling and lowered threshold to attract more firms to take part in the pilot program.
The China Securities Regulatory Commission approved applications from China Galaxy Securities Co, Shenyin Wanguo Securities Co, Orient Securities, China Merchants Securities Co and Huatai Securities Co, Xinhua news agency said today.
The commission also lowered the threshold for securities firms to engage in the program by reducing net capital requirement from 5 billion yuan (US$732.18 million) to 3 billion yuan in the past six months.
Besides 11 firms that have already been approved to deal in the program, 15 securities firms are qualified for the new standard, including Essence Securities, Changjiang Securities, Ping An Securities and Guoyuan Securities.
Margin trading lets brokers fund stock purchases by individual investors. Short selling allows retail investors to sell borrowed securities with an aim to buy them back later at lower prices to profit from the difference.
The margin trading and short selling pilot program is initially limited to six brokerages - CITIC Securities, Guotai Junan Securities, Haitong Securities, Guosen Securities, Everbright Securities and GF Securities.
The China Securities Regulatory Commission approved applications from China Galaxy Securities Co, Shenyin Wanguo Securities Co, Orient Securities, China Merchants Securities Co and Huatai Securities Co, Xinhua news agency said today.
The commission also lowered the threshold for securities firms to engage in the program by reducing net capital requirement from 5 billion yuan (US$732.18 million) to 3 billion yuan in the past six months.
Besides 11 firms that have already been approved to deal in the program, 15 securities firms are qualified for the new standard, including Essence Securities, Changjiang Securities, Ping An Securities and Guoyuan Securities.
Margin trading lets brokers fund stock purchases by individual investors. Short selling allows retail investors to sell borrowed securities with an aim to buy them back later at lower prices to profit from the difference.
The margin trading and short selling pilot program is initially limited to six brokerages - CITIC Securities, Guotai Junan Securities, Haitong Securities, Guosen Securities, Everbright Securities and GF Securities.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
