The male god of magic capital

Chapter 279 Chapter 280 Proprietary Trading Department

Previously, Huaxia Chengtian Mixed Pioneer raised 100 billion yuan and collected 2.5 million management fees. This time, it raised 2 million yuan for Jialinjie Clothing Company, leaving 5000 million yuan.

In the following month, the stock market did not have any big quotations.

The company also has a lot of funds for its daily operations.

Many traders of Chengtian Holdings have completed their training, and there have been many people with outstanding trading talents. Now they can trade independently, so Luo Cheng decided to use the 5000 million funds to set up a new department, the self-operated trading department.

The proprietary trading department conducts transactions through the company's proprietary funds. Domestic securities companies will have proprietary trading departments.

Chengtian Holdings did not have a self-operated trading department before, that was because the traders had not yet finished training, but now many traders have been successfully trained and can conduct independent trading.

Let these traders trade the company's funds to make a profit, for example, the traders get a commission for their profits.

"Boss, how are the bonus commissions for the traders designed?" Jiang Ning, the vice president of the personnel department, asked.

How are the bonus commissions for proprietary traders designed?
According to the simple rules of the game, the trader's bonus should be a ratio multiplied by the trader's profit.

But the reality may be a little more complicated than this simple formula.

The proprietary traders of Chengtian Holdings are also divided into several levels, junior traders, intermediate traders, senior traders, and fund managers.

First of all, not all traders of Chengtian Holdings have a commission.

Junior traders often do not have the power to negotiate with the company r, and the bonus is still calculated by multiplying N by the monthly salary.

For example, in a good year, you can get 12 months or more, and in a bad year, you can get 1-3 months.

Such disadvantages are obviously not upside, but the advantage is that regardless of profit or loss, there are more or less bonuses that can be divided.

Even in a bad year, if the company's overall profit is good, maybe it can take 3-6 months.

For a trader who has just started his trading career and has little trading authority, this is also a good deal. After all, he uses the company's money to increase his experience value. After deducting the cost, the commission may not be cost-effective on a monthly basis.

After rigorous training, traders who have passed multiple assessments are intermediate traders, and the company finally puts them in the commission bonus pool.

Generally speaking, the commission ratio is 10-15%. The high value and low value depend on the company's overall profit.

Domestic funds are said to be as high as 20%+, and some are 7%-8%. It mainly depends on the size of the funds under management. Generally speaking, the larger the management scale, the smaller the commission ratio.

Of course, managing 8% of hundreds of millions is more attractive than managing 2000% of 15 million.

In the case of a fixed commission ratio, traders will of course try their best to strive for a larger scale of managed funds, which is equivalent to increasing the base. After all, when the scale of funds reaches a certain level, the cost is a small fixed value relative to the bonus. It seems less important.

Bonuses may be reset to zero.

The cut-off calculation point of the bonus is generally December 12, the last day of the natural year, and there are also a small number of companies whose fiscal year is settled on the last day of March or June.But it does not affect the new period of clearing and recalculation.

But the subtle point is that for financial institutions, clearing is a real clearing, and last year's losses will not affect this year's profit commission.For example, if I lost 1000 million last year and earned 1000 million this year, I still receive a profit commission of 1000 million this year. Is it a huge benefit for traders? Yes.

But often such companies have a high turnover rate and high pressure, and will not give you too many opportunities to reset from scratch.

Two consecutive years of losses and sometimes even one year of big losses can directly wipe out traders.

So any rule is a trade-off.In the company's transactions, it is often necessary to get off to a good start and make money as soon as you come up, otherwise you will face endless pressure from risk control and possible vicious circles.

For funds, the algorithm is relatively more reasonable, that is, fund managers or traders can only get dividends after reaching the highest net asset value in any year.

To put it simply, profits must make up for previous losses before dividends can be distributed. This is mainly to avoid repeated dividends.

For example, a trader loses from 1000 million to 800 million in the first year, and then earns back from 800 million to 1200 million in the second year. Although the trader earns 400 million in the second year, he can only make a profit of 200 million. commission instead of 400 million.Of course, if a trader has lost money for two consecutive years, and in the third year, he will have to make up for the pitfalls of the previous two years before he can get a bonus. I guess he will take the initiative to consider leaving his home and re-clearing the workplace.

In addition to these simple rules, there are also relatively complex profit grading commissions, minimum profit threshold commissions and other mechanisms.

Of course, for funds with a large fund management scale, the management fee is also a considerable income.

After setting these rules, Luo Cheng ordered: "Call all the transactions of Chengtian Holdings, and come to the company's trading room for a meeting!"

Today is Saturday, the financial market is not open, traders are resting at home, but they were all called back in the afternoon.

"The proprietary trading department is now established. The top 25 traders in this assessment can become proprietary traders and be responsible for the company's account funds. Currently, the proprietary trading department provides 5000 million funds, and each person is in charge of an average of 200 million yuan for the time being."

"The proprietary trading department does not operate stocks, but operates the futures market."

The futures market is different from the stock market. The futures market is leveraged several times, ten times, or dozens of times.

At present, Huaxia has four futures trading markets, and different markets can trade different varieties, as follows:
First, Modu Futures Exchange
Varieties include: copper, aluminum, zinc, lead, paper pulp, rubber, gold, fuel oil, rebar, wire rod, silver, asphalt, asphalt 1906 flat today, hot coil, tin, nickel.

Second, Dalian Commodity Exchange
Varieties include: soybean No. 1, soybean No. 2, soybean meal, soybean oil, corn, corn starch, polyethylene, palm oil, polyvinyl chloride, coke, coke Pingjin, coking coal, coking coal Pingjin, iron ore, eggs, fiberboard, Plywood, polypropylene, glycol.

Third, Zhengzhou Commodity Exchange
Varieties include: strong wheat, common wheat, cotton, cotton yarn, apple, white sugar, PTA, rapeseed oil, rapeseed, glass, thermal coal, methanol, ferrosilicon, manganese silicon, etc.

Fourth, Huaxia Financial Exchange
品种包括：沪深300、上证50、中证500、2年期国债、5年期国债、10年期国债。

"You all have received training in futures and stocks. This is your first self-employed fund. I hope you will perform well in the futures market and fight for Chengtian Holdings."

"The leverage in this futures market is high, and the profits are also high. You are all elite traders trained by Chengtian Holdings. I hope you will kill everyone!"

Everyone was immediately excited and excited!
"My knife has been sharpened for a long time, it's time to kill the enemy."

"Yeah, it's time to kill the enemy."

"I want to go from 200 million to 1000 million!"

"I don't know how much commission I get?"

"It must be that the more you earn, the higher the commission!"

"Hey, that's cool!"

····
Then Luo Cheng and Jiang Ning mentioned the commission plan.

The commission ranges from 8% to 20%, the more you earn, the higher the commission, up to 20%.

This means that if a trader manages 200 million funds and makes a profit of 100 million, then he will get a commission of 8 to 40.

And if traders lose money, they don't need to take responsibility.

However, the risk control department will strictly supervise the accounts of all traders and cannot operate randomly.

At this moment, everyone was also very excited. After so long training, screening, and assessment, now everyone can finally become a proprietary trader.

Proprietary traders mean that they can operate the company's funds. If they make a profit, they get a commission. If they lose, they don't need to be responsible. Of course, the loss is not a random loss. If you lose 5% to 10%, the risk control department will follow. The loss is 5% to 10%
But it’s nothing, the key is that the more you earn, the higher the commission, if you earn 2 million, then the commission is 4000 million

At this moment, everyone is full of fighting spirit, looking forward to killing all parties in the futures market.

"20% commission, this is 200 million funds, earning 200 million, which is 40 commission."

"If it reaches 1000 million, it will be a commission of 160 million."

"Haha, don't talk about making 1000 million yuan, it's better to earn more than 200 million yuan, and you can directly get a commission of [-] million yuan."

Seeing how excited everyone was, Luo Cheng pressed his fingers to calm everyone down.

In fact, the 5000 million self-operated funds are only temporarily managed and operated by them, and may be withdrawn at any time for unified operation.

Then Luo Cheng said: "Next, you guys make the CSI 300 index futures for me first!"

"I'll see who makes more money and do more, and let him be the trading supervisor, who can manage more funds!"

When everyone heard it, they were immediately excited.

The weekend is over quickly.

On Monday, the stock market opens!
Many traders directly shorted the CSI 300 Index!

"Damn it, it's done!"

"Short, short!"

"The stock market is impotent, go in and short!"

····
[Review: The performance of the three major indexes is weak! 】

After opening slightly higher, the three major stock indexes continued to fluctuate lower.

On the disk, only more than 100 individual stocks in the two cities rose, and the wait-and-see mood of funds was strong, and the profit-making effect was correspondingly poor

Near the end of the morning, the index continued to fluctuate weakly, while the Science and Technology Innovation Board performed strongly, and the funds were relatively concentrated.On the disk, the performance of the three major indexes is still weak in the general afternoon of individual stocks.In terms of individual stocks in the sector, individual stocks in the sector generally fell, the rate of explosion was low, and the overall market's profit-making effect was poor.

In late trading, despite a slight rebound in turnover, the market performance was calm, the stock indexes of the two cities fluctuated within a narrow range, and the overall performance continued to be sluggish.

Generally speaking, the mood of funds is more cautious, and the willingness to do more is not strong.

Today, the Shanghai and Shenzhen 300 Index futures fell 1.37%.

Today, the self-operated trading department has made a profit of more than 500 million yuan.

very good.

Traders were short today and then closed out late in the day, very well done.

Luo Cheng was also very satisfied.

(End of this chapter)