Fierce Competition to Be Launched in Online Securities TradingChina's securities companies are devoting more energy to developing online securities trading business, which will result in a new round of fierce competition. Small-sized securities firms may achieve rapid development through developing online securities trading business and fully represents advantages for later development.Dr. Xu Yaping, director of the Information Center of China Securities Regulatory Commission (CSRC), made the above remarks in Shanghai Monday. Dr. Xu pointed out that the new economy is promoting the integration of international capital market. IT companies require the global capital market, and IT will make the capital market realize global around-the-clock joint-system trading, which will change the current pattern of the capital market. Online securities trading will radically change the operational mode of securities firms. The overseas securities brokerages which will set up joint ventures in China in future together with their Chinese counterparts will also attach importance to online securities trading business. Dr. Xu said online trading will also further promote the cooperation between banks and the securities industry. A typical example is the transfer of account between banks and securities firms. And the room for further development will be even larger. There will be only tens of sound securities trading websites in the future global capital market. China will try to have one of them. By then the standardization of Information and technology will be even more important. China's securities industry should deepen the understanding of the role of IT industry in promoting the integration of capital market and take effective actions. CSRC has listed the standardization of information and technology in the securities industry into its work plan for next year, Dr. Xu said. |
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