| Summary: | 碩士 === 銘傳大學 === 財務金融學系碩士在職專班 === 99 === Last year, the Taiwanese economy has started reviving; the DGBAS announced economic growth rate of 10.82% during the past year. However, securities business performance has not kept up with the economy revival. Last year ROE was only 5.17%, and business performance was less than ideal. The main problem is the limited scope of business available—mostly brokerage—and its inability to break free of the influences of the economy. National security dealers’ capital adequacy averages over 250%; although this reflects a healthy operating structure, it also reveals the dilemma was ineffective capital.
The Taiwanese capital market is more mature than that of Mainland; Taiwan has mature product operation and business development experience, and Taiwanese brokerage companies are experienced in customer sales. Due to large dimensionality, Mainland brokerage companies cultivate predominately Internet orders; in contrast, Taiwanese companies rely mainly on traditional orders, which allows for better control of client needs and therefore obvious advantages in developing more intricate brokerage services.
Cross-strait financial cooperation has formally proceeded into practical cooperation since the signing of MOU and ECFA. Although the ECFA Early Harvest list does not provide actual benefits to the security industry, future open lists are under negotiation. This thesis aims to discuss the opportunities of Taiwanese securities entering the Mainland market; this thesis aims to address three questions: 1) The mode of entrance for Taiwanese securities 2) options of regional Mainland market 3) what kind of services would best highlight the advantages of Taiwanese security?
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