In order to control the risk of margin financing and securities lending, according to the value of maintaining the guarantee ratio after the liquidation of the investor's credit account, the following treatment and transaction restriction measures are taken:
1. When the maintenance guarantee ratio exceeds 300%, investors can withdraw cash from the available balance of deposits or securities covering deposits, but the maintenance guarantee ratio after withdrawal shall not be less than 300%. Unless otherwise stipulated by the company.
2. After the liquidation on T day, when the guarantee ratio remains below 65,438+045% and above 65,438+030%, the next trading day (T+65,438+0) will control the trading of the credit account and restrict the withdrawal of collateral.
3. After T-day liquidation, when the guarantee ratio is kept below 65,438+030% and above 65,438+065,438+00%, investors need to add collateral, and are restricted from credit buying, financing buying, short selling and withdrawing collateral.
When the account maintenance guarantee ratio is lower than 130%, collateral (transfer collateral or repayment of debts) shall be added on T+ 1 day to make the maintenance guarantee ratio reach 130%, otherwise the credit account will be closed on T+2.
4. When the maintenance guarantee ratio is lower than 1 10%, the company will forcibly close the position of the customer, so that the maintenance guarantee ratio of the credit account will reach or exceed the warning line (145%) after closing the position on the same day or at the end of the day.
Or the liquidation amount on the day of compulsory liquidation is not less than the liquidation amount calculated based on the data after liquidation on the previous trading day. Restrict the credit account from buying collateral, financing, selling securities, transferring collateral, etc.
Extended data:
Forced liquidation mainly occurs in the following situations:
1. After the investor's credit account is liquidated on the same day (T day), the guarantee ratio shall be kept lower than the liquidation line 130%. The company will issue a short position notice before T+ 1 (including T+ 1). If the investor fails to raise the maintenance guarantee ratio to the warning line of 65438 within T+ 1,
2. If the margin financing and securities lending expires and the investor fails to fully repay the margin financing and securities lending debt, the Company will execute compulsory liquidation from the next trading day of the maturity date.
3. The investor has circumstances that may seriously affect his performance and debt repayment ability, or the margin trading contract is terminated (the investor loses his capacity for civil conduct, etc.). ), the company will implement compulsory liquidation.
4. When the court and other state organs take property preservation or enforcement measures against the rights and interests recorded in the investor's credit account according to law, the company will implement compulsory liquidation and give priority to the creditor's rights arising from the investor's margin financing and securities lending.
5. Other circumstances.
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