开展融资融券业务对我国券商经营能力的影响摘要融资融券交易在国外发达证券市场早已是一种相当成熟的交易制度,是证券市场发挥基本职能的重要基础。我国由于金融市场发展起步晚,市场不成熟和相关法规不完善,融资融券业务一直没有推行,直至2010年3月才开始在沪深市场试点,2011年10月由试点转为证券公司常规业务,2012年8月30日正式开办转融资试点。截至2013年1月1日,两市融资融券余额首次突破1000亿元达到1076亿元。因而融资融券业务试点的开展及其在我国的进一步发展,已经并将继续对我国证券市场产生深远的影响。本文主要分了五个部分对融资融券业务对我国券商经营能力的影响进行了探讨，第一部分是对融资融券业务的理论概述；第二部分分析了我国融资融券业务发展现状；第三部分通过日本的例子进一步分析了融资融券业务对券商的影响；第四部分探讨了融资融券业务对券商经营的影响第五部分为完善券商经营融资融券业务提出了几条有效措施。关键词：融资融券；券商；影响；风险AbstractMargintradinginforeigndevelopedstockmarketisalreadyamaturetradingsystem,isanimportantfoundationofthesecuritiesmarkettoplaythebasicfunctions.AsChina'sfinancialmarketdevelopmentstartedlate,themarketisnotmatureandtherelevantlawsandregulationsarenotperfect,thefinancingsecuritiesloanservicehasnotbeenimplementeduntil2010March,beganin2011October,theShanghaiandShenzhenmarketpilot,thepilotsecuritiescompaniestoroutinebusiness,officiallyopenedinAugust30,2012,financingpilot.AsofJanuary1,2013,thetwocitiesmarginbalanceforthefirsttimeexceeded100000000000yuanto107600000000yuan.Thepilotofmargintradingbusinessdevelopmentandthefurtherdevelopmentofourcountry,hasbeenandwillcontinuetohaveaprofoundimpactonChina'ssecuritiesmarket.ThispaperisdividedintofivepartstodiscusstheimpactofmargintradingbusinessforChina'ssecuritiescompaniesoperatingcapacity,thefirstpartisanoverviewofthetheoryofmargintradingbusiness;thesecondpartanalyzesthecurrentsituationofmarginfinancingbusinessdevelopmentinChina;thethirdpartthroughtheexampleofJapanandfurtheranalysisoftheimpactofmargintradingbusinessofsecuritiesthefourthpartdiscussestheinfluence;marginofthebrokeragebusinessmanagement;thefifthpartputforwardsomeeffectivemeasurestoimprovetheadministrationofsecuritiesmarginfinancingbusiness.Keywords:brokeragemargin;effect;risk目录摘要....................................................................................................................1Abstract................................................................................................................2引言......................................................................................................................4一、融资融券业务的理论概述..........................................................................4（一）融资融券业务的涵义.......................................................................4（二）融资融券业务的组成.......................................................................5（三）融资融券对证券市场的影响...........................................................51.积极影响...........................................................................................52.消极影响...........................................................................................6二、我国融资融券业务发展现状.......................................................................6（一）融资融券业务规模呈上升趋势，但总体规模依旧较小...............6（二）融资融券业务交易门槛太高...........................................................6（三...
