Towards the end of the year, the profitability of the futures industry began to pick up.

According to the latest data disclosed by the Mid-term Association, in November, the operating income of 11 futures companies across the country was 150.33 billion yuan, an increase of 63.36% month-on-month and a year-on-year increase of 37.3%; The net profit was 59 million yuan, an increase of 6.79% month-on-month, but still a year-on-year decrease of 88.67%.

With the reduction of the fee refund standard of futures exchanges, the competition for fees in the industry is still fierce. In November, the industry-wide customer equity was 11.1 trillion yuan, a slight increase of 419.0% month-on-month, and the fee income was 37.19 billion yuan, an increase of 26.52% month-on-month and a year-on-year decrease of 0.99%.

According to Cheng Xiaoyong, deputy general manager of Guangzhou Financial Holding Futures Research Center, some futures varieties showed large fluctuations in December, and investors' enthusiasm for trading rebounded, which will not only increase the scale of market transactions, but also promote the growth of futures companies' income. At the same time, the redemption of the futures company's own funds at the end of the year will also increase the operating profit.

In addition, the trading volume of 11 futures companies in the whole market reached 150.54 trillion yuan in November, an increase of 89.36% month-on-month; The trading volume of commodity futures and options was 68.41 trillion yuan, an increase of 62.38% month-on-month, the trading volume of financial futures and options was 51.13 trillion yuan, an increase of 28.31% month-on-month, and the total market trading volume in the same period was 26 million contracts, an increase of 8.12% month-on-month; Among them, commodity futures and options were 42 million contracts, an increase of 09.7% month-on-month, and financial futures and options were 74.44 million contracts, an increase of 33.0% month-on-month.

Since last year, the profitability of futures companies has continued to decline, and the year-on-year decline in net profit has begun to narrow. Industry insiders generally believe that this year's adjustment of the handling fee policy has a great impact on futures companies with a high proportion of brokerage business.

The data of the Mid-term Association also shows that in the first 11 months of this year, the operating profit and net profit of national futures companies were 114.80 billion yuan and 81.12 billion yuan respectively, down 7.23% and 7.73% year-on-year respectively. As of the end of November, the equity of customers in the whole market was 11,14190.44 billion yuan, a slight increase of 0.37% month-on-month and a year-on-year decrease of 3.30%.

In terms of jurisdictions, in November this year, the top five regions in terms of net profit of domestic futures companies were Shanghai, Shenzhen, Beijing, Zhejiang and Guangdong, with net profits of about 11 million yuan, 2 million yuan, 17 million yuan, 1 million yuan and 28 million yuan respectively, accounting for about 1% of the overall net profit of the industry.

With the overall recovery of the market, industry insiders expect that the weak earnings growth of futures companies may improve.

Wang Jun, president of the Founder Mid-term Futures Research Institute, told the first financial reporter that as futures companies' derivatives business, market-making trading and margin financing businesses begin to apply for licenses and gradually develop their businesses, they are expected to become the performance growth point of some large and medium-sized futures companies. However, in the short term, the existing brokerage business, asset management business and risk management business of futures companies will not change much. (Author: Qi Qi)

Source: Yicai