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1、落實科學(xué)發(fā)展觀 聚焦會員關(guān)注點(diǎn)（Implement Scientific Outlook on Development focus member concerns）
Implement Scientific Outlook on Development focus member concerns
On the current members of the most concerned about the hot issues of the survey report
Executive vice president of the medium-term futures indus
2、try association Zou Jianping
Recently, according to the arrangements of the association on the implementation of Scientific Outlook on Development research topics, we have allocated the current "hot issues of concern to the industry as well as the main issues related to the development of the ind
3、ustry". We investigated the member units in four ways:
1, telephone inquiries: through the talk to members of the unit to understand the situation;
The 2 survey questionnaires to participants in the test and hold executives held a forum at (a total of 82 copies of the questionnaire, respondent
4、s are mainly Futures Company executives and key personnel, will be a hot line) the current market concerns are listed, according to respondents paid more attention to the specific problems of arrangement, so that conclusion;
3, on-the-spot investigation and forum: daily visit of member department
5、 and face-to-face exchange of members provide the basic reference for this investigation. In October 30th, led by deputy chairman Comrade Zou Jianping, member of the compliance department and the relevant comrades, to the Tianjin region of five Futures Company often resident in Tianjin conducted fie
6、ld visits to Tianjin, and called for all Futures Company and the business department held a forum;
4, members of the unit information submitted to: members of the daily work of dynamic reporting and membership of the stability of the work submitted as the main mode of communication, to understand
7、 the focus of attention of members.
First, members pay attention to the problem
Through investigation and study, we find that the hot issues that concern the member units are mainly concentrated in four aspects:
1., policy trends and external impact: mainly stock index futures listed and af
8、fected by the macroeconomic environment, the current futures market volatility, systemic risk response and prevention.
Through the questionnaires, we found that in the focus of all attention, the stock index futures market and the current market conditions to two by the degree of concern in the t
9、op row, far higher than the other, and the two types of problem votes are not comparable, while the top.
Most companies hope that the stock index futures market will bring rapid expansion of the business and market changes. By the end of 2007, there are 53 Futures Company belongs to brokerage hol
10、dings, with financial services Futures Company approved qualification approval and IB brokerage business qualifications, most companies have made all kinds of manpower, capital, technology investment and so on and ready for the arrival of the stock index futures. Many Futures Company in order to sei
11、ze the opportunity to fight, in various parts of the business department opened, as of October, the country's sales department has increased to nearly 600. All kinds of investment require real return, which brings great concern to stock index futures.
The market caused the industry not occur even
12、 in a hundred years of unprecedented attention. Eleven after the holiday, due to outside influence, market volatility, opening the first day of all varieties of the extreme limit across the board market, then some commodities three consecutive limit. Eleven after the two trading weeks, the market ha
13、s about 23000 customers was liquidated, on average each company 135; the whole industry is about 800-900 customers wearing 6 per thousand, the number of customer transactions about possession; wearing a total capital of about 20 million, with 66% of the company's customers wearing in this round of m
14、arket. According to the feedback of member units, although there are a lot of customers in this round of market in huge losses, but the amount is not wearing a general (wearing the largest amount of 1 million 100 thousand), the company is basically not affected by the loss. But the current round of
15、prices by the macro environmental impact is far from over, the trend of the market trend of one after another, magnificent, the company's risk control has brought new challenges. At the same time, the market also led the industry to market exchange rules and risk control measures of comprehensive qu
16、estions and thinking, to all futures practitioners on a vivid lesson, so that we have a more profound understanding of the risk of the futures market and the operation of the Futures Company.
2., the industry disorderly competition and talent construction: mainly the fees, vicious competition con
17、tinued to affect the company's operations, restructuring reshuffle, causing a battle for talent.
When we face the member units in a more intuitive way, more often than not, we first hear the industry's complaints about the vicious competition in fees. At the forum, the issue was more likely to re
18、sonate with the participants, with more enthusiasm and longer discussion. In the questionnaire, this issue after the listing of stock index futures and the current market conditions in response to the concern of third.
Commission competition is an old problem and a problem that has been plaguing
19、the market for many years. Most people in the market want to take a positive approach to this problem. Such as: management, such as the SFC or Futures Association issued a rigid measures to estimate costs and minimum standards for charges, the industry if there is violation, that is, disciplinary ac
20、tion;
A small number of people wish to transfer the fees to the directly through the exchange, and then return them to the Futures Company. There are also some people think that fees is the result of the market competition, the fee is the appearance of the market, the deep-seated reasons for its
21、existence is the limited market capacity and customer resources is not enough to support too many agencies, completely solve the industry should rely on the development of such as stock or through the market mechanism to reduce the number of.
There is also a competition for talents at the same ti
22、me that there is a vicious competition in handling fees. This mainly stems from the absence and flow of qualified personnel after restructuring. And the fee problem is different, for the flow of talent, the company's attitude is more of the brain drain helpless, and rarely require the industry to de
23、velop restrictive rules on the original training unit "protection."". I will be more positive about the scheme of talent development and follow-up training, but I don't expect these solutions to solve problems.
Business issue is of concern to the industry, another reason is also quite a number of
24、 firms and other powerful institutions to enter the futures market, the exact date has not been to the stock index futures market, and the company once the operators need to output and return, so many of the original stock index futures as a development company had to go to a share in commodity futu
25、res thus, also began to issue fees, rebates, intermediary management, talent flow and so on.
3. development needs. Mainly for the needs of new products and new business.
It is not difficult to see from the order in which we are concerned about the members of the unit. After solving the "surviv
26、al problem", some companies that have basically realized "food and clothing" have begun to pay attention to the problem of development. These problems include futures funds, financial futures product development, trading foreign open the new variety, including the listing of options, etc..
4. int
27、ernal governance and other issues. During the investigation, some members expressed concern about the company's internal governance, Futures Company's classification management, investor education and market development, Futures Company's positioning in the futures market, and so on.
Two, about t
28、he members of the issues of concern and some suggestions for the next step
Study and implementation of Scientific Outlook on Development, our understanding of the "emerging and transitional stage characteristics, the premise is that we should understand the current futures market opportunities in
29、 the clear, mainly focus on dealing with various risks and challenges, give full play to the positive role of the association in the outstanding contradictions and problems solved in effect the development of China's futures market.
The association is to play a self regulatory functions under the
30、 guidance of the government, play the role of industry self-regulation, to protect the legitimate rights and interests of investors, maintaining market fair, efficient and transparent, guard against systemic risk, eliminate the negative factors affecting the development of the industry's regulatory
31、objectives;
To play the service function of the association is to actively coordinate the interests of all parties in the market, urge the members of the association to meet the regulatory requirements, and constantly improve the management level and competitiveness;
Play a transmission role o
32、f the association, is to give full play to the role of a bridge between the government and the association between the industry, promote supervision departments to implement various policy measures to reflect the reasonable demands of the industry in a timely manner, communication and coordination o
33、n regulatory departments and members concerned, to promote the development of harmonious and orderly industry.
Through the screening of members concerns, we can see that the related policy support such as the stock and the listing of new varieties, new business development, belong to the regulato
34、ry aspects of the decision, the association can do some work from the appeal, and so on; from self-discipline, service and conduction angle can help solve the membership or can promote the benign the problems mainly include the development of market:
1., actively explore the new historical period
35、, Futures Company how to do better and stronger problem.
We found in the survey, the member units generally believe that "Futures Company business model is single, can not get rid of a single brokerage business profit model" is the "Futures Company" to do "excellent" and "strong" the most importa
36、nt reason. However, the market demand is not fully developed and the market awareness of futures products is low, which ranks second as the constraint factor; third, "the Futures Company has a poor foundation and a weak foundation", and "the regulation is too strict and the policy environment is not
37、 loose" is the last one.
The association from the cultivation of the market and foster futures Zuoyouzuoqiang should focus on several aspects: first, to explore and establish the Futures Company and make the industry strong, such as the establishment of credit evaluation system, the Futures Compa
38、ny to set the goal of incentive mechanism; second, strengthen marketing and promotion, popularization of futures knowledge, strive for the social right to speak more third; actively called for innovative business models, the Futures Company to get rid of the passive situation in one leg; fourth, wit
39、h regulatory requirements for auxiliary industry self-regulation, to increase power to relax the policy.
2., effectively solve the problem of competition and restrict the development of the market.
The first is the handling fee. The problem of commission competition is related to the vital int
40、erests of every member, and has also been attached importance to by regulators. In the survey we found that initiated by a member of the offensive and defensive alliance "almost all of the industry convention, eventually ended in failure. There are two main reasons: one is no effective punishment me
41、chanism; two is the Internet so that customers can be anywhere in the accounts and transactions, alliance members will not only face the area in the company and the business department, but also to all the other and not in the local set point, but the development is extended to competing local compa
42、ny this makes the alliance lost and fall apart. A few of the best places to settle, such as Xinjiang and Jilin, are largely due to their relatively remote location, independence, easier enforcement of the Convention, and strong support from local regulators and strong mutual checks. Recently, the un
43、ified standard of Dalian securities and Futures Industry Association relevant securities fee approach also gives us inspiration, the association may be at the lowest cost standard procedures to make a unified make substantial institutional arrangements. This topic has been included in my next priori
44、ty.
Second is the middleman problem. Because of the "intermediary" in the futures laws and regulations on the "righteous", which is defined as a group or simply engaged in customer introduced by introducing broker, or agent is defined as the agency relationship between brokers and clients "". In
45、fact, through several years of market practice, most Futures Company are able to live in peace with the intermediary and define the rights and obligations of both parties through civil contracts. Most of the reasons and the intermediary Futures Company was criticized is part of "intermediary" has ma
46、ny years of toil and powerful wings, gradually brokerage company and obtain the initiative must meet as equals, in the negotiations, the Futures Company shall not passively accept intermediary bargaining in the market competition, such as lower fees, which triggered a series of other problems. A sma
47、ll part is related to the quality of the middleman, but not to the middleman. The industry generally believes that the association should consider the intermediary as a futures practitioners certification management, but this idea is to solve the surface of the problem rather than the fundamental me
48、ans. There are intermediary after all because of the market demand, some people want to invest their time, energy and no professional level of operation, and the need for agents, the policy does not allow Futures Company engaged in discretionary, so this part of the demand in the "intermediary" ther
49、e are satisfied. Therefore, to solve the problem is the intermediary "let go the way, blocking off the wrong way". It is said that the regulatory authorities have already opened up new business windows for investment and financing. The association should be properly involved and consider the certifi
50、cation and management of relevant personnel under the new business.
3., strengthen investor education and deal with the relationship between the market and members and investors.
Investors are the core of the market. Without investors, there is no need for the market. Association to do a good
51、job, we must obey and serve a major premise, that is, to protect the legitimate interests of investors, in the main premise, good service members, protect the legitimate interests of members. One of the central themes of investor education over the years has been the cultivation of mature, high-qual
52、ity investors. In fact, the market has been running for many years, and there has been a large number of professional investors with high level of operation, a thorough understanding of policies and a major contribution to market development. On the one hand, society should continue to promote inves
53、tors to foster the pace and intensity of the establishment of "put forward on the other hand the systemic risk member credit risk investors" list of requirements, let the market play the supervision mechanism, to an evil member of the herd. At present, the association has started relevant research. In short, through the provincial limit inferior, fair and open, we make our work more withstand scrutiny, let the market more satisfied.
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落實科學(xué)發(fā)展觀 聚焦會員關(guān)注點(diǎn)（Implement Scientific Outlook on Development focus member concerns）
