分析师认为佣金续降可能性依然存在 Analysts say there are still likely to drop commission

　　本报讯 据Wind数据统计显示，截至昨日收盘，7月份沪深两市股票交易额约为2.4万亿元，日均交易额约为1091亿元，较6月环比下降了8.7%。按照行业目前最新的平均佣金费率水平估算，券商当月日均股票交易佣金约为24亿元，较6月相比日均减少1040万元。

Report from our correspondent according to Wind figures show，By yesterday closing quotation，Shenzhen city in July two share trading at about $2.4 trillion，Daily turnover is about 109.1 billion yuan，6 y/y a 8.7% decline。According to the latest industry average commission rate level estimation，Brokers that month average daily stock trading commission about 2.4 billion yuan，A June 10.4 million yuan compared to reduce average daily。

　　根据证券业协会最近公布的券商半年报数据，上半年112家券商经纪业务平均佣金费率为0.078%左右。按此平均佣金费率估算，7月券商可获得近19亿元的股票交易佣金。与去年同期相比，7月券商所获股票交易佣金收入同比降幅达到42%。

According to the securities industry association recently published brokers half annals data，In the first half of 112 brokers brokerage commission rate for about 0.078% on average。According to the commission estimated average rate，July brokers can get nearly 1.9 billion yuan in commissions on stock transactions。Compared with the same period last year，July by stock trading securities commission income fell to 42% year-on-year。

　　在成交额下滑及佣金费率均呈下降的背景下，上半年券商经纪业务收入较去年同期大幅下滑33%，寒潮再袭券商经纪业务。

In the turnover rate are in decline and commission of the decline of the background，Securities brokerage business income in the first half of the decline 33% compared to the same period last year，Cold wave struck again brokers brokerage business。

　　不仅如此，有业内人士预计，券商全年经纪业务收入继续下滑是大概率事件。东兴证券研究员王明德表示，今年上半年，两市日均成交额不足1500亿元，换手率继续呈现下降趋势。此外，若月均换手率在16%~20%之间浮动，成交额较去年的变动幅度约为-3.48%~20.64%之间，则券商全年经纪业务收入继续下滑或成定局。

Not only that，Have insiders expect，Brokers year-round brokerage business income is big probability events continue to slide。Researchers WangMingDe following securities said，In the first half of this year，Two city average daily turnover of less than 150 billion yuan，Changing hands rate continued to decline。In addition，If the average monthly rate changing hands between 16% ~ 20% floating，Turnover of variations than last year about-3.48% ~ 20.64%，The annual income securities brokerage business continue to slip or entrenched。

　　“在经营成本和刚性支出不断增加的情况下，营业收入特别是净利润的大幅下滑给整个券商行业的生存和发展带来了较为明显的影响，而导致券商经营业绩大幅下滑的直接原因是股市低迷、成交量萎缩。”大同证券(博客,微博)分析师刘云峰昨日表示，此外，券商之间争抢客户资源的竞争导致佣金费率持续下滑，直接影响到券商经营业绩的增长。他也指出，由于目前佣金率的降幅与市场份额变动仍呈现反比关系，券商仍可采取降佣的方式抢占市场份额，在佣金费率仍足以覆盖所有成本的条件下，为了做大经纪业务市场份额而继续下调佣金率的冲动仍然存在，故而，整个券商业佣金收入下降依然存在可能。

“In operating costs and rigid spending increases unceasingly in the situation，Operating income especially net profit for the decline of the survival and development of the securities industry brought a relatively apparent effect，And lead to brokers operating performance of a sharp decline in the direct reason is the stock market downturn、Turnover shrinking。”Datong securities(blog,Micro bo)Analysts LiuYunFeng said yesterday，In addition，Brokers for customer resources between the competition commission rate to continue to slide，Directly affect the brokers operating performance of growth。He also points out that，Because the present rate of commission declined and movements of the market share is still present relationship，Brokers can still take down when a way seizes the market share，The commission rate still enough to cover all costs conditions，In order to do big brokerage business market share and continue to cut the rate of commission impulse still exists，so，The whole coupon commercial commission income drop may still exist。

　　记者 夏明月 惠晨晨

Reporter XiaMingYue HuiChenChen