As a credit account, not everyone can carry out margin trading;

First, you must meet the entry threshold for margin trading

① Meet the securities trading experience for half a year (starting from the first transaction recorded by Zhongdeng Company)

② Average daily assets of 5, accounts (non-market value, including cash, stocks, funds, bonds, etc.) in the first 2 days

At the same time, the relevant risk tolerance should meet the regulatory requirements, and the general risk assessment level is C4 or above, so as to meet the above requirements. Remember to choose a brokerage firm with a low rate, because the margin financing and securities lending account is unique. Once it is opened, if you want to change the brokerage firm, you need to close the original account before reopening it, which will delay the process;

2. How to use margin financing and securities lending

The letter users can use it normally the next trading day after it is opened. The following is a brief introduction:

Step 1: Transfer collateral. That is to say, the shareholding in the ordinary account is transferred to the letter user as collateral for margin financing and securities lending, and the letter user can only operate the next trading day after successfully opening an account. If the ordinary account still has cash, it can't be directly transferred to the two financial accounts, so it will be more convenient if the ordinary three-party depository and the credit three-party depository are the same bank.

step 2: open the position. It is divided into collateral transaction and financing fund transaction. In order to maximize leverage, you can transfer cash to credit users, first buy it by financing or sell it by securities lending, and then buy it with your own funds, because the cash conversion rate is 1, which can achieve 1 times leverage. If you don't want to use high leverage, first buy it with free funds or buy it in a general account and then transfer it to the letter user. In summary, the leverage is estimated to be around .5 times.

step 3: close the position. This is a bit complicated.

Collateral selling: only when there is no debt in the sold securities can collateral selling be truly called collateral selling, and the system logo is "collateral selling". When the sold securities are in debt (such as those bought with financing funds), the effect of using the "collateral selling" menu is the same as that of the "securities selling repayment" menu, although the logo is still the same, but after the transaction, it is used for repayment and repayment of the securities sold.

Selling bonds for repayment: for the purpose of "repayment"; Selling all the money gives priority to repaying the liabilities, and selling the securities with contracts gives priority to repaying the liabilities of this contract. In short, all the money will be repaid. It means that the rest can only become cash after paying off all debts.

cash repayment: cash is used to repay the integrated funds

Buying securities and returning securities: you can buy the securities of the same variety as short-selling securities by reporting the "Buy Securities and Return Securities" instruction, and then repay the short-selling securities at the time of settlement

Direct return of securities: two ways: transferring the securities of the same variety as short-selling securities from the ordinary securities account to the credit securities account, or directly using the credit securities account to buy the securities of the same variety as short-selling securities from the securities company. Special securities lending refers to applying for a part of the amount of a certain securities source for its own exclusive use within a certain period of time. Advantages are: low cost, the lowest known is 2.99%. Secondly, you can lock the coupons and sell them repeatedly within the time limit. Disadvantages are: interest will be accrued once the application is approved, and it cannot be repaid before the expiration. Some brokers have a threshold for special securities lending.

step 5: book the coupon. Don't have the full amount of coupons you want? When the contract is made, the source of the contract is generally an external institution, and it takes t+1 to get the contract. The cost is generally high, and some brokers have a threshold for the contract.