Cost = turnover × handling fee rate.
Expand one's knowledge
The so-called national debt is actually a bond issued by the state. Of course, its security is unmatched by other bonds, and traders often take the form of reverse repurchase of government bonds to obtain a certain degree of income.
First, the transaction process of reverse repurchase of government bonds
(1) Repurchase entrustment-The customer entrusts the securities company to do the repurchase transaction. Customers can also place orders directly through counters, telephone self-service and online transactions, just like stock trading;
(2) Repo transaction declaration-according to the client's entrustment, the securities company makes a transaction declaration to the host computer of the stock exchange and issues a repurchase transaction instruction. The repurchase transaction instruction must declare the securities account, otherwise the repurchase declaration is invalid.
(3) Transaction matching-the exchange host matches the effective financing transaction declaration and the securities lending transaction declaration.
(4) Transaction data sending-After the market closes on T day, the exchange will send the transaction data of repurchase transaction and other securities transaction data to the settlement company.
(5) Clearing and settlement: The clearing company will merge the data of funds receivable and payable in the repurchase transaction with other securities trading data of the day, calculate the net balance of funds receivable and payable in the securities company's brokerage and self-operated settlement reserve accounts through netting, and settle the funds on T+ 1 day.
(6) Payment-for example, if you make a 7-day reverse repurchase, the customer's funds will arrive at the account on T+7, and the transfer can be made on T+8, and it is automatic payment without transaction.
Two. Relevant provisions on securities issuance
securities laws
Article 10
The public offering of securities must meet the conditions stipulated by laws and administrative regulations, and be reported to the securities regulatory agency of the State Council or the department authorized by the State Council for approval according to law; No unit or individual may publicly issue securities without approval according to law. In any of the following circumstances, it is a public offering of shares:
(1) Issuing securities to unspecified objects;
(2) More than 200 people have issued securities to specific objects;
(3) Other issuance acts as stipulated by laws and administrative regulations.
Non-public issuance of securities shall not be carried out by advertising, public persuasion or disguised publicity.
According to the law, we can know that the formula for calculating the income of national debt reverse repurchase is annual yield = transaction volume × transaction price × repurchase days/transaction volume ×365, and cost = transaction volume × handling fee rate. The above is the relevant knowledge about the calculation formula of reverse repurchase income of national debt. If you don't understand anything, or have other questions, you can consult a French Open lawyer.