Source: Brokerage China
Recently, A-shares have continued to rise sharply, and new investors have continued to pour into the market. A number of securities firms told Securities Times · Securities China reporters that since September 24, the number of new accounts opened in the market and the scale of financing have increased significantly.
In response to the continuous influx of new investors and leveraged funds, Securities Times Securities · China reporter learned that recently, the regulator issued a notice to securities firms, requiring securities companies to strictly implement suitability management, strengthen risk disclosure, standardize marketing promotion behavior, continue to do a good job in investor services, and strengthen compliance and risk control management.
Investors continue to pour in
Investors continue to flock to the A-share market. Securities Times · brokerage China reporter learned that a large securities company opened more than 20,000 accounts on the last day of the holiday, and about 7,000 accounts were opened on National Day.
The relevant person in charge of Soochow Securities told reporters that since September 24, Soochow Securities has ushered in an account opening boom both online and offline, and the number of appointments for account opening has grown explosively. The total number of new accounts opened by appointment in the 7 days during the holiday season reached 3-4 times the number of accounts opened on September 30, close to 20 times the average daily new account opening before the market started.
According to CICC Wealth, on October 8, the number of account openings increased by more than 3 times compared with the daily account opening volume, the account opening return visit increased by 12 times compared with the daily return visit, the peak customer consultation volume was 22 times the daily consultation volume, and the intelligent customer service business volume exceeded 130,000 transactions on the same day.
According to Everbright Securities, from September 25 to October 8, the average daily account opening of Everbright Securities increased by about 4 times compared with before.
According to the relevant person in charge of Zhongtai Securities, since September 24, the company's investors' funds into the market have grown explosively, and as of October 9, the average daily net transfer of funds has increased by more than 80 times month-on-month.
Among the new entrants, the post-90s generation has become the mainstream, and even many post-00s investors have begun to open accounts.
According to the relevant person in charge of Galaxy Securities, since September 24, off-site account opening has shown a blowout growth. According to statistics, the average number of daily account openings during the National Day Golden Week is about twice as high as before. The data shows that the post-90s generation has become the main body of new account opening investors in this round, accounting for about 50% of the total number of account openings, and the post-80s and post-00s account for 42% and 18% of the total account openings respectively.
Guojin Securities also introduced that in terms of the age structure of the customer group, most of the post-80s and post-90s customers are in the age group, and there are even some post-00s customers.
"Among the investors who have recently opened new accounts, the new generation accounts for a considerable proportion. The number and proportion of post-95 and post-00 account openings have increased significantly, accounting for nearly half of the total, and they have increasingly become an important new force in the account opening boom. At the same time, the number of accounts opened by the post-85 generation has also increased, accounting for nearly 30%, an increase of 40% compared with the past. This data change reflects the enthusiasm of the younger generation to participate in the securities market, indicating that the securities market will be younger in the future. The relevant person in charge of Soochow Securities introduced.
Brokerages strengthen investor education
For new investors who have recently entered the market, many brokerages have also actively carried out investor education to help new investors learn market knowledge faster and deal with market risks.
According to Huaxi Securities, with the rapid growth of account opening, many investors with no investment experience have entered the market, and it is necessary to increase the service work of investor education. On the one hand, the headquarters strengthens staff training, objectively and correctly understands policy guidance, and provides customer communication services at any time; On the other hand, let customers pay attention to position control and diversification of trading varieties, and should not over-chase high and participate in heavy positions. For possible congestion and other situations in the transaction, it is also necessary to inform customers in advance and reveal the risks.
In view of the large market volatility and the high mood of investors, Galaxy Securities has carried out a series of special activities, through organizing investors to go into listed companies, campuses, communities and other activities, revealing various risks in the investment process, releasing promotional videos with the theme of financial culture with Chinese characteristics, producing and releasing original investment education products such as "market entry tips" and "anti-fraud micro-short dramas", and helping long-term investment, value investment and rational investment concepts to take root with practical actions. According to statistics, the number of visits to the investment and education base of Galaxy Securities reached 16.15 million in September, an increase of 241% over the average of the previous three months.
In line with the current hot issues of great concern to investors, CICC Wealth Management has prepared a special content on "Popularizing New Account Opening Knowledge", covering different investment categories, such as bonds and ETFs. At the same time, it has produced "Business Rules Guidelines", including password reset, single customer and multiple banks, etc., which is committed to helping investors fully understand the characteristics and risks of various products and providing them with a full range of introductory guidance.
At the same time, CICC Wealth Management closely follows the regulatory and exchange dynamics, and forwards and transmits information in a timely manner, such as answers to high-frequency questions about designated transactions, to ensure that investors accurately grasp the latest policies, regulations and market trends. In addition, we should do a solid job in the risk warning work of customers, so that investors can fully understand the investment risks and prevent blindly following the trend.
Sinolink Securities has launched investment education content for different investors through trading terminals, official self-media accounts, offline business outlets and other channels. For example, for new investors, basic investment education such as account opening, transfer, trading, and stock market knowledge is launched to help them quickly familiarize themselves with the market and operations; For investors who already have accounts but are dormant, we have launched operation strategies such as fund account retrieval, password retrieval, and password reset to help investors solve the problem of the last mile of entering the market in a timely manner; For investors whose accounts normally meet the conditions for opening relevant permissions, we will actively launch relevant permissions and trading education content.
In the face of the recent market situation, Everbright Securities has publicized the importance of rational investment and value investment to investors in a variety of ways, guided investors to pay attention to the fundamental analysis of listed companies, and avoided irrational investment behaviors such as blindly following the trend and chasing the rise and killing the fall. For example, timely release investment strategy reports and market analysis articles to introduce ETFs, long-term investment and other products and concepts, to help investors correctly understand market trends and investment opportunities, and establish long-term investment and value investment concepts.
At the same time, we will make full use of the official website of Everbright Securities, the Internet Investor Education Base and other online platforms to release a wealth of investment education publicity materials to facilitate investors to learn anytime and anywhere, and increase investors' interest and participation in learning through interactive forms of investment education such as live broadcasts. All branches have further strengthened the holding of investment knowledge training, investment strategy lectures, market analysis seminars and other activities, and professional investment consultants will explain investment knowledge, market dynamics, investment skills and other contents to investors to help investors improve their investment analysis ability and decision-making level.
The relevant person in charge of Zhongtai Securities told reporters that in the face of recent high sentiment investors, the company has strengthened investor education in a variety of ways to improve investors' risk awareness and rational investment ability. In view of the characteristics of new investors, the company produces targeted investment and education works on business knowledge, and strengthens the disclosure of business risks.
At the same time, Zhongtai Securities' investment education bases and branches actively carry out online and offline investment education lectures for new investors, focusing on explaining the trading mechanism and investor behavior, revealing investment risks, and guiding customers to look at the market rationally.
Regulatory Compaction Institutional Responsibilities
In the face of the recent significant increase in the number of new accounts opened and the scale of financing in the market, the regulator has also taken the initiative to strengthen risk management. Brokerage China reporters learned that recently, the regulator issued a notice to brokers, requiring brokerages to strictly implement suitability management, strengthen risk disclosure, standardize marketing and promotion behaviors, continue to do a good job in investor services, and strengthen compliance and risk control management.
Regulatory requirements, securities firms to strictly implement suitability management. Securities companies shall implement the relevant provisions of the Measures for the Administration of the Suitability of Securities and Futures Investors, and recommend appropriate products or services based on factors such as investors' investment years and investment experience, so as to ensure that the risk level matches the investor's tolerance. Securities companies shall verify the authenticity of the customer's identity and whether it meets the suitability requirements. For those who do not meet the access requirements of specific markets, products and transactions, securities companies shall fully explain to investors the relevant regulations and investment risks, and shall not provide relevant services to them in violation of regulations.
Brokerages should also strengthen risk disclosure. Securities companies and their employees should strengthen investor education and fully disclose investment risks, especially the risk control arrangements for default disposal of margin financing and securities lending business; It also reminds investors of the risks of participating in illegal securities activities such as over-the-counter capital allocation, and requires them to comply with the requirements of legal compliance of the source of funds entering the market. Securities companies shall open accounts in accordance with regulations and remind investors to strictly implement the requirements of the real-name system for accounts. For investors who apply to open new credit accounts, it is necessary to strengthen customer risk assessment and business concentration management, and prudently set credit lines and margin requirements.
At the same time, securities companies should standardize marketing and promotion behaviors. In the process of marketing, securities companies and their employees shall not induce investors who are not willing to invest or do not have the corresponding risk tolerance to open accounts and participate in securities trading activities, shall not directly or indirectly return commissions, give gifts and certificates to investors or provide other services of a non-securities business nature, and shall not entrust individuals or institutions other than securities brokers to solicit investors and provide services in violation of regulations. Where a securities company places advertisements through a third-party carrier, the securities company shall independently complete securities business such as soliciting investors and receiving trading instructions, and the third-party carrier shall not intervene.
Brokerages should continue to do a good job in investor services. Securities companies shall strengthen the operation, maintenance and management of the system to ensure the security of investors' information and the continuity of transactions. Securities companies shall continue to perform their duties such as the real-name system for the use of accounts, appropriateness management, capital monitoring, and abnormal transaction management, and shall report and take timely measures in accordance with regulations for the use of non-real-name accounts, abnormal capital and trading behaviors, etc. In the event of a system operation problem, it shall do a good job in handling investor complaints, explaining and communicating with them, and report them in accordance with regulations.
The regulator emphasizes that securities firms should strengthen compliance and risk control management. Securities companies shall earnestly strengthen internal management and prevent employees from engaging in acts that harm the legitimate rights and interests of investors, such as privately accepting clients' entrustment and exceeding their authority. The performance appraisal of employees by securities companies shall not be directly linked to the number of new accounts opened and the trading volume of customers. Securities companies should take into account market conditions and the actual situation of the company, prudently determine risk tolerance and risk limits and other risk management indicators in accordance with laws and regulations, strictly abide by the risk limit management requirements for business scale, and conduct stress tests in a timely manner to ensure that risks are measurable, controllable and bearable.
Editor-in-charge: Ye Shuyun
Proofreading: Ran Yanqing
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