和讯网消息 29日，“海通证券(600837,股吧)的转融资试点将在今明两天内推出，最快今天就可以正式开展，”海通证券融资融券部经理朱维宝向和讯网透露，海通证券已经向证金公司申请了50亿的额度，但尚未得到证金公司正式批复。

HeXunWang news 29，“Haitong securities(600837,guba)Turn the financing pilot will be in in the next two days out，The fastest today can carry out formally，”Haitong securities margin manager ZhuWeiBao to HeXunWang revealed，Haitong securities have to card gold company applied for 5 billion line，But has not been card gold company official reply。

　　8月27日，上交所、深交所分别发布《转融通证券出借交易实施办法（试行）》。同日，中国证券金融股份有限公司（以下简称证金公司）发布了《转融通业务规则（试行）》、《转融通业务保证金管理实施细则（试行）》和《融资融券业务统计与监控规则（试行）》等三项细则，标志着转融通业务试点将正式开闸。

August 27,，ShangJiaoSuo、Shenzhen released respectively《To refinance securities lending transaction measures for the implementation（trial）》。On the same day，The China securities finance co., LTD（Hereinafter referred to as certificate gold company）released《Turn accommodation business rules（trial）》、《Turn accommodation business margin detailed rules for the implementation of the management（trial）》and《Margin business statistics and monitoring rules（trial）》Three rules, such as，Marks the turn accommodation business pilot will be officially breaking。

　　根据《试行办法》第五十五条，证金公司根据征信情况对证券公司设置不同档次的保证金比例要求，最高为50%，最低为20%。本公司可以根据风险控制需要，调整保证金比例的档次。

According to《Trial implementation measures》Article 55，Gold card company according to the reference of securities companies set up different grades of margin ratio requirements，The highest 50%，The lowest 20%。The company may, according to the needs of risk control，Adjust margin percentage of class。

　　“虽然现在还未得到证金公司正式书面通知，海通证券有望获得最高的杠杆比例，即20%的保证金比例。”朱维宝说。

“Although it is not get card gold company formal written notice，Haitong securities is expected to get the highest leverage ratio，That is 20% of the deposit proportion。”ZhuWeiBao said。

　　对于转融通业务对证券公司营业收入的影响，朱维宝则认为，短期内转融通业务的开展不会对海通证券的营业收入有任何影响。

For refinancing business the securities firm operating income influence，ZhuWeiBao argue that，Short-term pronation financing business development not to haitong securities business income have any influence。

　　“首先因为转融通业务先行开展的是转融资业务，提供的是新的资金来源。只有当资金不足以满足客户时才会有融资需求，而现在海通并不存在资金缺乏问题。其次，海通证券更需要的是券源，通过转融券借到跟多的证券，但是转融券今年内推出的可能性不大，因而海通证券的营业收入短期内不会因为转融通业务的开展而受影响。从长期来看，转融通业务有助于券商最大程度地满足客户需求，从而做大融资融券规模，因此而获益。”

“First, because to refinance business first in turn is financing business，Offer is new source of capital。Only when the funds will not be sufficient to satisfy the customer there will be no financing needs，And now haitong does not exist the shortage of fund。secondly，Haitong securities needs more is to note source，Through the turn to borrow securities with many securities，But turn securities within this year launched the possibility is not big，Thus haitong securities business income in the short term will not because refinancing business development and affected。In the long run，To refinance securities business to the greatest extent to meet the customers' needs，Thus do big margin scale，So to benefit。”

　　事实上，在此前举行的中期业绩说明会上，海通证券董秘金晓斌曾表示，在经纪业务等传统业务增长乏力的情况下，创新业务将成为海通未来的重要收入来源。

In fact，In previous medium-term performance at that meeting，Haitong securities dong secret JinXiaoBin has said，In the brokerage business and traditional business growth under the condition of the weak，Innovation business will become haitong future important source of income。

　　朱维宝认为转融通业务将推动券商格局重组。他认为转融通业务之于券商就类似放贷之于银行，越好的证券公司将获得更高的杠杆比例和额度，将获得发展先机和优势，未来券商两级分化很可能因此而形成。

ZhuWeiBao think refinancing business will promote the securities trader pattern restructuring。He thinks to refinance business to the securities trader is similar to bank loans，The better the securities companies will get higher leverage ratio and limit，Will get development opportunities and advantages，The future brokers two stage differentiation might have been formed。

　　从海通证券公布的2012年半年度业绩报告来看，两融业务快速发展,行业龙头地位稳固。H股发行后自有存款增加和两融业务继续增长带来公司净利息收入实现同比正增长。海通证券2012年上半年代理买卖证券业务、承销业务、受托资产管理业务、自营及净利息收入占营业收入比例分别为24.4%、7.4%、9.6%、21.9%和21.5%。

Haitong securities published from 2012 semi-annual performance report to see，Two melting business rapid development,Industry leading position steady。H shares issued after own deposits increase and two melting business continues to grow with the company net interest income realize up positive growth。Haitong securities in the first half of 2012 as an agent for buying and selling securities business、Underwriting business、The asset management business、Self-supporting and net interest income of operating income to 24.4%、7.4%、9.6%、21.9% and 21.5%。