A Study of The Trend Of Securities Industry And The Innovative Operation Model

• Main Authors: Wu,Ching-Yu, 吳靜雨
• Other Authors: Chung,Hui-Min
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/06607345505064110833

碩士 === 國立交通大學 === 管理學院財務金融學程 === 101 === This study to be explored from the overall environment of the Taiwan stock market and the securities industry competition，2012 Taiwan stocks present prices go volume contraction pattern，the first half of last year due to face temporary permit recovery of the tax levy issues interference，making the stock market turnover volume urgent reduction.The second half of the year due to loose monetary policy in Europe and America，cross-strait policy interest and more，as well as government funds to support the market and other factors，making the Taiwan stock market several times bottoming the rebound until the beginning of the year 2013 presents a high-end consolidation. The professional brokers subject to the Taiwan stock market trading volume shrinking to earnings greatly reduced the amount of almost half as much as. 2012，Taiwan's top ten securities firms，total of the brokerage transaction amount market share over 2011， a decrease of 1.78 percentage points，which Yuanta Polaris， keygen，Fubon and CSC and other large local brokerage market share both declined .In the other hand，foreign brokerages potential ability has improved significantly. The problems faced by the domestic securities include: the lack of degree of internationalization、business trends monotonous (mostly for the lack of brokerage income，proprietary trading，underwriting and wealth management business and so on)、the lack of product innovation and decrees environmental constraints and other issues. These problems can be tackled from several oriented: First，to accelerate the pace of internationalization of the domestic securities dealer，from the internal organizational structure of securities firms innovation and toward the highest indicators into international business unit with an external statute of limitations deregulation，such as to allow securities firms to apply for the Offshore Securities Unit (OSU). Second，to strengthen the diversity of the sources of income of the securities dealer，earn fee income based business model to adjust to the brokers in the past，to increase the income of the wealth management business. Third，innovation or the introduction of the more investors attractive financial instruments to active overall capital market.(such as: commodity ETFs、leverage ETFs )