证券自营

情节严重的，暂停或者撤销证券自营业务许可。

Under any serious circumstances , the business license of securities self-operation shall be suspended or revoked .

分公司经授权经营证券自营业务或者证券资产管理业务的，不得经营其他业务。

A branch that has been authorized to engage in securities business for the account of the securities company or securities asset management business may not engage in other businesses .

证券公司自营业务风险控制是帮助并确保证券公司自营业务风险应对措施得以实施的程序。

Risk control of the securities companies ' proprietary trading is procedure to help and guarantee implementation about risk counter measures of securities companies ' proprietary trading .

第一百三十四条证券公司自营业务必须以自己的名义进行，不得假借他人名义或者以个人名义进行。

Article 134 . Securities companies ' proprietary business shall be conducted in the names of the securities companies themselves and not in other 's names or in the names of individuals .

证券公司的自营业务必须使用自有资金和依法筹集的资金。

Securities companies shall use their own funds or funds raised in accordance with the law when operating proprietary business .

然而，监管压力以及对风险偏好的骤降，已经抹去了从证券化到自营交易等一系列利润丰厚的业务。

However , regulatory pressure and the plunging appetite for risk have wiped out a swathe of lucrative businesses , ranging from securitisation to proprietary trading .

证券公司的自营、经纪、资产管理等业务也存在顺周期性特征，而公允价值会计计量方法以及外部信用评级则加剧了证券公司的顺周期性。

Securities companies ' proprietary trading , brokerage and asset management business are also pro-cyclical and the fair value accounting measurement methods as well as external credit rating exacerbated securities companies ' pro-cyclical .

另外，融资融券业务也给试点证券公司的自营业务产生了深刻影响，还会加剧证券行业竞争，造成行业分化。

Moreover , margin trading business can also lead to profound effect to self-service business of those security companies involved in the pilot and increase competition between security companies and cause industry division .

本文从证券公司股指期货自营业务实务出发，说明根据不同操作目的采用的不同的会计处理方法。

Furthermore , this thesis described applying dedicated accounting processes in accordance with distinctive operation purposes based on practical securities company stock index stock self running cases .

但改组资产负债表不太可能让银行有能力弥补证券化产品和自营投资等投机业务的损失。

But reshuffling their balance sheets is unlikely to enable banks to make up for the loss of go-go businesses such as securitised products and proprietary investments .

由于国内证券公司盲目进行自营交易，加之愚蠢地向散户投资者保证回报，该行业曾一度陷入困境，目前许多证券公司的风险管理仍不完善。

The sector ran into trouble before because of a rash of proprietary trading and foolish offers of guaranteed returns to retail investors , and dozens of Chinese brokers remain inept at risk management .

机构投资者是一个宽泛的概念，是相对于个人投资者而言的，其本身又包括证券投资基金、证券公司自营资金、社保基金、保险资金、QFII等类型。

Institutional investors are broad concepts including Mutual Fund , securities companies ' own funds , Social Security Fund , insurance funds and QFII .

目前，证券公司风险一般可分为证券自营风险和证券经纪业务风险，证券自营风险分为基本风险和经营管理风险，包括：利率风险、购买力风险、政治风险及企业经营风险和违约风险；

Security company risk can be divided into self-operational risk and broker risk . Self-operational risk includes basic risk and management risk , which are interest risk , purchase power risk , political risk , operational risk , and credit risk ;

另一类是综合类证券公司，业务范围包括证券发行承销、证券经纪、证券自营和其他业务。

The other is called synthetic securities company , which can involve in securities issue and underwriting , securities brokerage , securities self-run and other businesses .

证券公司承担企业上市推荐、证券发行、证券交易代理、证券自营投资等多项业务，是资本市场当中的最重要的中介之一。

Securities Firms is an important intermediary in capital market , because of undertaking many operations , such as go public recommendation , public offering , Stock Exchange agency , self-support business .

我国证券公司所依存的特殊的金融环境，使得既有的资本监管规定既无法有效监控证券公司自营证券投资风险，又造成了证券公司缺乏积极的内部风险管理。

The special financial environment that Chinese securities firms depend on makes the rules of capital regulation unable effectively to monitor the self-management securities investment risk and causes the securities firms to lack the actively internal risk management .