The so-called "two participants and one control" in the standard of "two participants and one control" means that no more than two securities companies are controlled by one institution or multiple institutions, and no more than one securities company is controlled.

Securities:

Securities are the general name of all kinds of economic rights and interests certificates, and also refer to specialized products, which are legal certificates used to prove that the holder enjoys certain rights and interests. Securities mainly include capital security, currency securities and commodity securities. In a narrow sense, securities mainly refer to securities products in the securities market, including property market products such as stocks, debt market products such as bonds, and derivative market products such as stock futures, options and interest rate futures.