A Share One Pass Account Is Now Open To Traffic.

Here world Clothing shoes and hats Xiaobian network to introduce the A shares, a code through account, now "open to traffic", the scramble for war is starting soon.

After two years Negotiable securities Account integration is regarded as the "one yard" account of China's capital market freeway. According to China securities registration Clearing Corp, the company will open a one yard account for every investor from October 8th, and the existing securities account will be used as a sub account. The limitation of one person and one household is about to become a history. At the same time, the war of grabbing people will start.

　 Robbing people is a trigger.

The "one pass" account refers to a unified account that integrates investor securities accounts separated by trading places and transaction types. That is, on the basis of existing securities accounts such as Shanghai and Shenzhen A and B shares, China registered Clearing Corp to set up a single pass account for investors as a total account of investors' personal information and securities assets. The existing securities account is used as an investor's sub account for investment transactions, and the relationship between the one pass account and the sub account is established.

At that time, restrictions on "one person, one household" in securities accounts will also be abolished. On the same account platform, investors can open multiple types and uses of securities accounts in multiple business departments of many brokerages, and the brokerage business of securities dealers will be affected.

"Customers can flow freely among different brokers, and do not need to sell to the original sales department, which will face a certain pressure of customer churn for securities dealers. In the face of customer flow, securities companies will first consider lowering the Commission to retain customers. Yang Delong, chief strategist of the southern fund, told the Beijing Commercial Daily reporter.

Guotai Junan analyst also said that with the improvement of the investor's premium on the Commission, it is expected that the competition will intensify in the second half of the year. The commission rate, user experience and channel services will become the key for customers to choose the broker. That is to say, with the gradual expansion of a one pass account, the competition between brokerages for the Commission war will become more intense.

In addition, insiders also said that the start of a one pass account would enable the Shanghai Stock Exchange's designated trading system to be substantially opened. Prior to that, the Shanghai Stock Exchange has stipulated that investors need to sign an agreement with a securities operation institution and designate the securities operation institution as the sole trading point for their securities trading. If we want to buy and sell Shanghai shares in the new business department, we must first cancel the designated transaction in the original business Department, and then do a new designated transaction. For some old stock business departments rooted in Shanghai stock market, the umbrella of the system is about to disappear, and the challenge will be greater.

Changes in the industry structure

Although the flow of customers will bring challenges to the brokerage business after the opening of the one pass account, it may be a new starting point for the change of the industry structure.

Yang Jianhai, an analyst at Anxin securities, said that the "one pass" account system will open up 7 markets, such as Shanghai and Shenzhen A shares, B shares and closed-end funds, which will lay a solid foundation for the follow-up product innovation of brokerages.

As the transformation channel between assets is opened, the customer resources become more important, and the comprehensive brokers who have the ability to provide quality services will occupy a more favorable position. At the same time, the service capability will be further differentiated, and the securities companies will rely more heavily on the service capability to make profits, while the role of the channel will be weakened while the resources of the brokerages will also be reconfigured.

In addition, bond securities analysts also believe that with the gradual penetration of Internet brokerage business mode, the huge growth of traditional brokerage business is difficult to sustain. The development of innovative businesses such as margin trading and new three boards will become the main profit growth point of securities companies in the future, and the business department will gradually become a comprehensive financial service provider and financial product sales terminal of securities companies.

According to Fei Xiaoping, assistant director of Dongguan securities, under the new challenge, asset size is no longer the only competitive capital for securities companies. Under the new product and service sales platform, the demand of investors will continue to promote the innovation of brokers, and the transformation and development of Internet Finance and the all-round development of securities companies will go further in the new competition pattern.

　　 Investors are the biggest beneficiaries.

In Yang Delong's view, the biggest beneficiary of the start of an account is investors. "There will be no geographical restrictions on the opening and transfer of investors, and the unified operation and processing of the Shanghai and Shenzhen market will enhance the efficiency of account handling, and the most direct impact is the significant reduction in the cost of opening accounts."

It is understood that the China registered Clearing Corp also lowered the charging standard of account business at the same time when the one yard account was launched. The original 7 items of fees were reduced to 3 of the opening of securities accounts, the change of account registration data and the cancellation of accounts, and temporarily waived the other two expenses of taking account of opening accounts. Since then, the cost of opening accounts for investors will be reduced: at the same time, an account of Shanghai and Shenzhen A shares will be set up, with a personal charge of 40 yuan and an institutional charge of 400 yuan. Compared with the original A share charging standard (40 yuan in Shanghai stock market, 50 yuan in Shenzhen stock market, 400 yuan in Shanghai stock market and 500 yuan in Shenzhen stock market), the cost of opening an individual A share will be reduced by 50 yuan, and the organization will be reduced by 500 yuan, with a decrease of about 56%.

Market participants believe that the one pass account business provides investors with a fair investment environment while providing convenience for the supervision and prevention of major risks in the capital market. Prior to this, China's securities account information is scattered, which is not conducive to regulation. And a one pass account will associate its related sub accounts. The investment process of investors will become transparent. This provides a new window for investors' supervision and supervision of illegal activities, and insider trading, money laundering and other acts of investors, especially institutional investors, will be further curbed.

　 Comparison of one pass account before and after opening

Before opening

- the Shanghai Stock Exchange as a designated trading system can only open a Shanghai stock account in a business department.

- the stock exchanges of different types of stocks, funds and other stock exchanges are independent of each other.

- 40 yuan in Shanghai stock market, 50 yuan in Shenzhen stock market, 400 yuan in Shanghai stock market and 500 yuan in Shenzhen stock market.

　 After opening

- multiple accounts can be opened in many sales offices, and no need to replace the sales department.

-A shares, B shares, new three boards and fund accounts are unified to one pass account.

- opening Shanghai and Shenzhen at the same time A shares One yard account, 40 yuan for individuals, and 400 yuan for institutions.