1. It is the bridge between the fund supplier and the fund demander. The securities market provides a market with unified rules, which links securities issuers, securities buyers, securities transferors and intermediaries in this market and facilitates the issuance and circulation of securities.
2. The securities market is another channel for enterprises to raise social funds. Bank savings deposits and insurance premiums absorbed by the insurance industry are all channels to absorb social idle funds. Ordinary enterprises cannot engage in deposit business, insurance business and financial trust business, and their channels of absorbing funds can only be obtained through banks, insurance companies and financial trust enterprises except the securities market. The securities market provides an important channel for ordinary enterprises to directly raise funds from the public. Companies can absorb some social funds into the production field by issuing stocks or corporate bonds.
3. Provide the government with the regulation of open market operation. Securities trading in leveraged securities market can be measured by many indicators, one of which is the ratio of securities returns to securities prices, which is called securities returns.
The level of this index has a considerable impact on the changes of other factors in the whole financial market. Therefore, the government can influence the securities interest rate in the securities market by buying and selling treasury bonds, just as the central bank adjusts the rediscount rate to influence the discount rate of commercial banks, and it becomes a lever for the government to indirectly regulate the financial industry.
4. The securities market is the regulator of social capital redistribution. Securities investors are very sensitive to the returns of securities, which are largely determined by the economic benefits of enterprises. Enterprises with high economic benefits have more securities investors, and such securities are also very active in the market. On the contrary, there are fewer and fewer securities investors in enterprises with poor economic benefits, and the market transactions are not prosperous.
Therefore, some funds in society will automatically flow to enterprises with good economic benefits and stay away from enterprises with poor benefits. This flow redistributes social funds. On the other hand, the securities market is interrelated with other financial markets. When money is loose in society, hot money will automatically flow to the securities market. Active trading in the securities market will inevitably attract more social hot money, reduce the cost of issuing securities for companies and facilitate corporate financing.
On the contrary, when social funds are tight, the funds in the securities market flow to banks, the cost of issuing securities for enterprises increases, and the investment scale decreases relatively. Changes in the relationship between supply and demand in the securities market can also form this spontaneous adjustment. The relationship between supply and demand in financial markets in different countries is different, which leads to different market prices, and funds will also flow between financial markets in different countries.
The stock market is an important indicator to observe the economic situation. Although the companies listed on the securities market do not account for the majority of the total number of companies, they account for a considerable proportion of the company's assets, which shows that listed companies are all large companies.
Large companies are important enterprises in all production fields, and their development often affects the development of this industry. The index statistics in the securities market are precisely the stock trading status of these representative large companies, which can reflect the social and economic changes to some extent. Various indexes in the stock market can also reflect the surplus and shortage of funds in society, as well as the development of specific industries and enterprises. We should also see that the securities market also has negative effects, which also provides a place for securities speculation. Speculation in the securities market will cause market chaos, affect the order of other financial markets, and may even aggravate social contradictions. Influence on the national economic development. Promote the horizontal financing of funds and the horizontal connection of economy, and improve the overall efficiency of resource allocation. Establish and improve the management mechanism of self-restraint and self-development of securities consignment agencies. Opening up investment channels for securities investors, expanding the scope of investment choices, adapting to investors' diversified investment motives, trading motives and interests, can generally provide investors with the possibility of obtaining higher returns. Securities Code and Securities Category Each listed securities has its own securities code, which corresponds to the code one by one. Once the code of the securities is determined, it will not change. This is mainly to facilitate computer identification and use. For the securities listed on the Shanghai Stock Exchange, according to the Implementation Plan for Securities Coding of the Shanghai Stock Exchange, six digits are adopted, and the first three digits are different securities, as shown in the following table: 001×××××××××××××××××××××××××××××××××××××/kloc- 129×××100×××××× convertible bonds; 310 ××××× treasury bond futures; 500 ××××××× 550 ××××××× Fund; 600×××A A shares; 700 ××××× rights issue; 710××××× share transfer; 701×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××× 735 ××××× new fund subscription; 900×××B B shares; 737 ××××× new share placement.
For the securities listed on the Shenzhen Stock Exchange, the securities code of the Shenzhen Stock Exchange shall be followed, and the four-digit compilation method shall be adopted. The first securities variety difference code is shown in the following table: 0×××A A shares; 300 ××××× Growth Enterprise Market; 1××××× corporate bonds, repurchase of government bonds and spot of government bonds; 2 ××××× small and medium-sized board; 3 ×××××× rights issue warrants; 4 ××××× Fund; 5×××××× convertible bonds; 6 ×××××× Treasury bond futures; 7 ××××× options; 8 ×××××× share allotment warrants; 9 ×××××× new share placement.
Securities transaction fee
Securities trading commissions, fees, etc. Refer to the fund standards listed on the exchange. Specifically, the transaction commission of warrants shall not exceed 0.3% of the transaction amount, and 0.05% of the stock transfer commission shall be paid to the registered company at the face value of stock transfer when exercising, and no exercise commission shall be charged.
Importance of securities transaction costs
The importance of commission is shown as an example in the table.
1. If your capital is 654.38+10,000 yuan, and you trade 4 times a month, the commission is 1‰, 2‰. List of transaction cost savings under three rates, such as 3‰: the amount of funds of securities trading customers, the number of transactions per year, the commission of annual trading volume, the annual transaction cost savings and the yield generated by cost savings. A1‰ 96001920019.2% b65438+million 489.6 million 2‰ 19200 9600 9.6% c 65438+ million 489.6 million 3 ‰ 288000 00. If your capital is 654.38+10,000 yuan, and you trade 20 times a month, the commission is the same as that in 1. List of transaction cost savings under three rates, such as 3‰: the amount of funds, number of annual transactions, annual transaction volume, commission, annual transaction cost savings and the yield generated by cost savings: a 65438+ 10,000,240.48 million1‰ 48000,96000 96% B65438+10,000. 240.48 million 2 ‰ 960 million 480 million 48% C65438+24048 million 3 ‰1440 million 00%