Subversion Commission mode, Internet brokerage launched the 2.0 version price war?

There are more and more savages breaking into the commission's Virgin land.

To tell you the truth, I really don't like to do free advertising, but they only charge 5 yuan--yes, regardless of whether your transaction amount is 10,000 or 1 million, the commission of each transaction will be 5 yuan. Not too big in the industry, the group suddenly released a big move, issued a "commission transaction fee ration" as the most salient feature of the "Ling Commission", but also aimed at the users through the PC and mobile phone investment.

You also on the national gold securities alongside Tencent thigh after the launch of "Commission treasure" fresh memories of it. By Tencent Stock Channel to open online account, you can enjoy the national Gold Securities two out of 10,000 of the transaction Commission. At the same time, it provides financial services for account margin balances. For a time, "million second trade" slogan Brush the National Retail screen. As the first crab-eating brokerage, borrowing power Tencent Gold securities really cheap accounted for. Stock prices have soared and brand awareness has risen dramatically. "Commission Treasure" the rate of return has always remained in the Internet financial "Baby Corps" forefront of money-making effect of a big lead in the bat force of the Hundred Earn, balance treasure, financial Qualcomm and so on. But after the Thunder, "million second trade" has quietly face.

Early last month, the National Gold Securities in the Commission Bao official website issued a notice announced, as from May 20 0 O'Clock Commission Treasure Beta version of the extension period officially ended. After this, the rate of transfers will be adjusted to 2.5 out of 10,000 for new accounts or new investors. Only investors who open accounts or transfers before 0 o'clock on May 20 can continue to enjoy the "million-second transaction". As we all know, two out of 10,000 is the cost line of brokerage business, "million second transaction" close to 0 commission. National Gold Securities in the so-called 3-month test period after the "price adjustment", in fact, means that the securities brokerage net of the early end of the stage.

What is this remark? "Commission Treasure" is a mirror, the broker from this mirror realized that they should be able to use the internet giant's traffic and channel as much as possible to reduce costs, while trying to win customers. After the National Gold securities, Zhongshan Securities rushed to announce the hand Tencent Optional shares, launched the main mobile phone account "one out of 10,000 commission" of "0 of domestic helpers." Pettibone Securities, Huatai Securities and other followers have also been to. But these actions were eventually stopped by the regulatory authorities to check, "one out of 10,000" the slogan only appeared a day disappeared without a trace, the final Zhongshan Securities "net Price" is also fixed in 2.5 out of 10,000.

The red line is already proven. The traditional brokerage in the transition to the Internet brokerage, but similar to the General Electric power of the world without the bottom line price war is unlikely to be difficult to reproduce. There is logic behind it. Brokerage business is simply to pull the head, promote transactions, commission. The large amount of funds of the institutional clients is the key object of the traditional brokerage, which has a strong bargaining power. For institutional investors with dedicated teams and dedicated channels, the net of innovation in securities firms is not attractive at the moment. may be different from retail. Take commission treasure to say, "million two commission" certainly does not make money, but it pry move Tencent's billions of flows, attract a large number of new account holders, become the brokerage increment customer. Can not earn a commission, financing margin? What about margin financing? are new profit points.

By the view, low Commission is not the final goal of the brokerage net, but the brokerage net triggered the first round of price war, it does play a lower overall price level of brokerage business effect. However, the price war has not been exhausted, the new "subversive" has emerged-the Internet innovation of National Union securities, focusing on changing the Commission model.

"Where through the computer and mobile phone to complete the National Union Securities account Open customers, Shanghai A-shares, fund transactions will enjoy a 5 yuan per transaction commission (fees charged separately). Although it has not yet been experienced, the rules have been made clear in the "pen-and-trade" product descriptions of the "Ling Commission" of the securities companies, which charge a commission of only 5 yuan per trading broker. By the way of charging, it is easy to associate with one of the Internet products: standardization. It does also define the scope of the product coverage as "customers who have completed the National Union Securities account through the use of computers and mobile phones". But this breakthrough is more typical than the "Commission treasure" because it has gone beyond the price itself.

Since the establishment of China's mainland securities market, the securities trading agency basically implements a single fixed commission system. In recent years, with the rapid expansion of market scale and the gradual intensification of competition, the existing fixed commission system has already been seriously impacted, in a sense, this system is in no way. In the foreign trade, the investor's agent transaction fee (Commission) flexibility is very strong, can be based on different risk characteristics of the design. Fees and charges are also not new, and not to mention Europe and the United States, Hong Kong has been "online transactions on the basis of a uniform fee of HK $3.68" of "the whole city low." But the meaning behind the charge is different. Hong Kong's "HK $3.68" case appeared in 2012 when local financial markets were relatively depressed, more like the ultimate kill for a brokerage price war. In more mature markets such as the United States, the emergence of commission-charging model is the result of market dislocation competition. Take SogoTrade company For example, its biggest characteristic is the transaction fees are very cost-effective, stock and ETF funds are 3 dollars per sum, and unlimited number of shares. Investors can choose their own model according to their own needs.

In other words, this National Union securities based on the Internet, "Ling Commission" products, in addition to the standardization of ideas to solve the ordinary investors in the complex Commission calculation formula of the so-called pain point, more important is the net of the securities broker to reform the level of Commission model. and whether the "5 yuan per sum" design is sufficient to cover the cost of the brokerage, but this slogan itself will be more subversive than the "million two transactions." It can make the user investment in the process of each commission consumption more transparent, clear, but also break through the existing price war ideas, for the whole market provides another feasible direction.

Or the sentence: Traditional securities companies use the Internet financial innovation to promote the change of commission system has been a success. But the way ahead may not be so good. Whether it is imitating the national gold, holding tight to the internet giants such as Tencent, the thigh of the direct start price war is also good; The birth and death of the product is ultimately in the hands of the regulatory body, even if the internet thinking as a cloak for innovation, still can not be a half step.

Even without consideration of regulatory policy factors, the market itself has many problems. At present, the sentiment of China's capital market is depressed, investors ' willingness to deal is not strong, and the total amount of securities investment margin is even less than that of individual large state commercial banks. If the brokerage's innovative commission products eventually become the internet giants of the financial products host, the margin will become a pool of bat, the money into the stock market will be less. It is not difficult to imagine, once this kind of signs, the regulator is very likely to hand over the overall ban on Internet innovation brokerage.

However, the coming will always come. "Commission treasure" with "million two transactions" pry open monolithic brokerage Commission price system, and "Ling Commission" is obviously going to hold "every 5 yuan" to promote the capital Market trading Commission product model. Similar to the balance treasure so wash all the scenes can not be repeated in the field of securities business, but the spirit of the Internet has changed the world of brokers. With the licensing management of securities companies open, we look back today in the future, I am afraid to thank the pioneers of the crab eat constantly.

Author Micro-Credit subscriber number Mr3diary