The rise of quantitative trading in 2021 has not only affected the ecology of a shares, but also become an important force to change the top 100 pattern of securities business departments in 2021. It is reported that many of the “dark horse” business departments that soared rapidly in 2021 are related to quantitative transactions.
quantitative transaction to reconstruct the competition pattern
“top 100 business department” reshuffle
In the newly released top 100 list of business department in 2021, 45 are new faces. In addition to the increasingly obvious head effect, quantitative trading has quietly become the biggest variable to change the top 100 list.
Specifically, among the top five “top” business departments, quantitative private placement centers account for three. For example, Huaxin Securities Shanghai Branch jumped from No. 6 in 2020 to No. 2 with 3702 times on the list and a total turnover of 91.884 billion yuan, becoming the largest dark horse in the business department in 2021. It is reported that the rise of seats in Huaxin Securities Shanghai Branch benefits from quantitative trading, which presents the quantitative characteristics of high frequency and low amount. In addition, Huatai Securities Co.Ltd(601688) business headquarters and China International Capital Corporation Limited(601995) Shanghai Hubin Road business department also ranked among the top five.
Li Xiang, deputy director of the economic management committee, pointed out that quantitative trading and high-frequency trading have increased market liquidity and improved market pricing efficiency, which is favored by many investors. At the same time, the trading frequency of quantitative trading is significantly higher than that of traditional trading. For the place of quantitative trading, it will affect the ranking of trading volume in the same industry to a certain extent.
According to the supplementary analysis of China Merchants Securities Co.Ltd(600999) , the turnover rate of quantitative transaction is relatively high, and the requirements for transaction system are relatively high. The service demands of quantitative managers are also multifaceted, including capital services such as follow-up investment, agency sales and capital introduction, securities lending and income swap, which greatly drive the business development of the business department. The performance of quantitative products has been outstanding in the past two years, which has also driven the development of wealth management businesses such as consignment and customization of the business department.
The relevant person in charge of Guotai Junan Securities Co.Ltd(601211) believes that private placement quantitative products have developed rapidly in 2021, in which high-frequency quantitative strategy trading has boosted the amplification of market trading volume. In this wave of rapid market dividends, dazzling business departments will emerge. However, with the deepening and evolution of institutionalization, it ultimately depends on the ability of securities companies to serve private placement quantitative trading.
provide comprehensive services
securities companies are committed to building a quantitative ecosystem
In this process, securities companies also pay more and more attention to the business services of quantitative private placement.
For example, China Merchants Securities Co.Ltd(600999) as one of the first large securities companies to implement the business model of main securities companies and build the quantitative trading system, China Merchants Securities Co.Ltd(600999) is committed to providing comprehensive financial services for quantitative private placement. From meeting the demand to leading the demand, it mainly serves from the following aspects: first, there are special departments (institutional business departments) to coordinate the service of private placement customers, Provide full link services for quantitative private placement at different development stages. The second is to strengthen the empowerment of science and technology. In addition to the continuous investment in the trading system and keeping the industry leading, we also continue to make efforts in the construction of institutional marketing service system and capacity, focus on customer service, and improve service response efficiency and customer satisfaction. Third, driven by business innovation, build a quantitative ecosystem.
Gf Securities Co.Ltd(000776) attaches great importance to the service of quantitative private placement, and has increased the resource investment in quantitative private placement in recent years. In addition to the trading system support, based on the full independent research and development of the quantitative trading strategy hosting platform “Guangfa investment Yitong strategy housekeeper”, it provides quantitative customers with core functions such as fast trading, fast market and strategy management, and is equipped with special personnel to provide close and efficient technical services. There are also relevant innovations and support in derivatives services, private placement performance analysis services, seed fund funds and consignment cooperation.
It is worth mentioning that for the phenomenon of frequency reduction of quantitative institutions, securities companies generally believe that it will not affect cooperation.
China Merchants Securities Co.Ltd(600999) pointed out that it is normal to reduce the turnover rate of transactions. With the expansion of overall market liquidity and quantitative scale, the market share of quantitative transactions will continue to increase. Li Xiang added that in the current market environment, the institutionalization of retail investors is a trend, and the decline of turnover rate also shows that the convergence of quantitative strategies is becoming more and more serious to a certain extent, which requires quantitative private placement to do a good job in the research and development and iteration of strategies. For securities companies, it is necessary to identify these effective private placement managers, improve their service ability and make progress with customers. Guotai Junan Securities Co.Ltd(601211) the relevant person in charge said that it is expected that the turnover rate of private placement quantitative transactions and the alpha income of quantitative products will decrease in the future. However, from the perspective of securities companies, this is also a favorable window to test the comprehensive service ability of large securities companies. Changes in the market will not affect the securities companies to continue to cooperate more deeply and widely with private placement customers. According to the analysis of Founder Securities Co.Ltd(601901) , the cooperation between securities companies and quantitative private placement institutions mainly focuses on two points: first, improve market share and comprehensive income; Second, quantitative private placement products are the “starting point” for securities companies to serve high net worth customers.
(source: China Fund News)
