Eight brokers obtained the qualification of primary dealers in OTC options business.
As far as OTC derivatives business is concerned, the report shows that the OTC derivatives business of securities companies adopts the dealer management mechanism. By the end of 20021,there were 8 securities companies qualified as primary dealers in OTC options business and 35 securities companies qualified as secondary dealers in OTC options business. On 202 1 12, China Securities Association issued the Measures for the Administration of Income Swaps of Securities Companies, which made it clear that OTC options dealers can carry out income swaps.
In terms of business scale, the report shows that in 20021year, the total nominal principal of OTC derivatives transactions was 840,380,438+0 billion yuan, up 76.56% year-on-year. Among them, the total nominal principal of new income swap transactions is 4,772.735 billion yuan; The total nominal principal of new OTC options trading is 363,654.38+66 million yuan. By the end of 20021,the total nominal principal of open OTC derivatives transactions was 201671700 million yuan, up 57.80% year-on-year. Among them, the nominal principal of income swap transaction is1026.067 billion yuan, and the nominal principal of OTC option transaction is 990.65 billion yuan.
In terms of transaction concentration, the report shows that in 20021year, the concentration of new OTC derivatives transactions of securities companies (referring to the ratio of the sum of the transactions of the top five securities companies in nominal principal to the total transactions in the whole market) remained at a high level, but compared with 2020, the overall trend declined, and the monthly trend for the whole year was stable and declining.
In the distribution of contract targets, there are mainly A-share stock indexes, A-share stocks, commodities and other targets (including funds and fund accounts, overseas stocks, overseas stock indexes, stock index futures, bonds, exchange rates, etc. ). Nominally, as of the end of 20021,A-share stock index accounted for the highest proportion in OTC options business, accounting for 57.33%; Other targets account for the highest proportion in the income swap business, accounting for about 57.23%.
According to the report, commercial banks, private equity funds, securities companies and their subsidiaries are the main buyers of OTC derivatives market. In terms of nominal amount, as of the end of 20021,the counterparties of commercial banks, securities companies and subsidiaries in OTC options business accounted for a relatively high proportion, accounting for 54.00% and13.72% respectively; Private equity funds, securities companies and subsidiaries account for a relatively high proportion of counterparties in the income swap business, accounting for 55.86% and 20.08% respectively.
More than 1 10,000 non-public corporate bonds have been submitted for the record.
In terms of non-public issuance of corporate bonds, the report shows that by the end of 20021,a total of 9 1 securities companies had filed 10732 non-public issuance of corporate bonds, with a total filing scale of 10.67 trillion yuan. According to China Securities Regulatory Commission's Measures for the Administration of Corporate Bond Issuance and Trading and China Securities Association's Measures for the Administration of Non-public Issuance of Corporate Bonds, the underwriting institution or self-selling issuer shall file with China Securities Association within 5 working days after each issuance.
The report shows that in 20021year, a total of 2,770 new corporate bonds were filed, up by 20.96% year-on-year, and the newly filed scale was 2,082.042 billion yuan, up by 8.5 1% year-on-year. 202 1 The issuers of non-public corporate bonds involve 17 industries, which are mainly distributed in the fields of construction, comprehensive industries and financial industries, with a relatively high concentration.
In 202 1 year, the scale of bond filing increased year-on-year within three years, of which bonds within 1 year increased by 36.02%; The filing scale of bonds over five years decreased by 22.22% year-on-year. 202 1 The types of non-public debt holders include bank wealth management products, commercial banks (including rural credit cooperatives), brokerage asset management plans, securities companies and trust plans. Among them, bank wealth management products accounted for the largest proportion, accounting for 24.04%.
In 20021year, brokers issued 44 1 10,000 coupons.
As for the issuance of income certificates, the report shows that in 20021the whole year, CSI TR accepted 1 13 securities companies to declare income certificate products continuously, and the daily average number of declared products was about 188. In 20021year, securities companies issued a total of 4409 1 income coupons, with an issuance scale of 1022649 million yuan; By the end of 20021,the number of surviving income certificates was 1595 1, and the total amount was 41422.4 billion yuan. From the point of issuance, the income vouchers issued in the quotation system and the counter of securities companies account for 465,438+0.25, 438+0% and 58.79% of the total issuance respectively.
From the perspective of income structure, among the newly issued income coupons in the market in 20021year, the scale of fixed income products was 653.953 billion yuan, accounting for 63.95%; The scale of floating income products was 368.697 billion yuan, accounting for 36.05%. By the end of 20021and 12, the surviving income certificates were mainly concentrated in fixed income products, with the amount of 2605120,000 yuan, accounting for 62.89%; The scale of floating income products is15371200 million yuan, accounting for 37 1 1%.
From the perspective of term structure, the term of newly issued products of 202 1 income certificate is mainly within 1 year, with a total amount of 70395 1 billion yuan, accounting for 68.84% of the total new issuance scale in the whole year; The amount of products with a term of more than one year is 365,438+086.97 million yuan, accounting for 365,438+0.65,438+06% of the total scale of new issuance in the whole year.
Judging from the investors' positions, as of the end of 20021,the total market 1595 1 products involved 375,343 investors, with the number of investors concentrated in individual investors and the holding scale concentrated in institutional investors. Among them, there are 370,006 individual investors, accounting for 98.58%, and the holding scale is 7057 1 100 million yuan, accounting for17.04% of the total existing scale; There are 5,337 institutional investors, with a total holding scale of 343.653 billion yuan, accounting for 82.96%.
202 1 annual purchase of OTC bonds11trillion yuan.
In terms of OTC bond investment and trading business, the report shows that the OTC bond investment and trading business of securities fund operators involves four types of bonds: spot bond trading, repurchase trading, forward trading and lending trading. 202 1 securities fund operating institutions buy cash bonds over the counter11trillion yuan, and sell them in total10/trillion yuan; The total scale of new positive repurchase is 430 trillion yuan, and the total scale of new reverse repurchase is 106 trillion yuan; In the forward transaction, 46.5 billion yuan was newly bought and 40 1 100 million yuan was sold; In the loan transaction, 4159.4 billion yuan was newly lent, and1800 million yuan was lent.
Judging from the scale of positions, as of the end of 20021,the face value of bonds held by securities fund operating institutions was 26.30 trillion yuan, and the fair value was 26.30 trillion yuan, up 19.08% year-on-year. From the perspective of the variety structure of position bonds, 202 1, the credit bonds held by securities fund operating institutions account for about two thirds, and interest rate bonds, interbank deposit certificates and asset-backed securities account for about one third. Among them, the proportion of credit bonds and asset-backed securities positions showed a slight downward trend, while the proportion of interest rate bonds and interbank deposit certificates showed a slight upward trend.
From the perspective of bond issuance places, 202 1 securities fund operating institutions mainly hold bonds issued in the inter-bank bond market, accounting for nearly three quarters, showing an overall upward trend; Holding about a quarter of the bonds in the exchange market showed a downward trend as a whole. At the end of 20021,the proportion of bonds held by self-operated/self-owned funds in the interbank market was about 64%, and the proportion of bonds held by asset management/fund products in the interbank market was about 75%.