Page 41 - 凱基證券 年報

39 自營業務 Proprietary Trading Business
自營業務
2010 年國內股市的劇烈波動及自行買賣的業務特性，使得股票
自營業務面臨極高的市場風險，但整體短期操作仍然遵守投資
政策，此顯示部門執行嚴格的風險管理得以獲成效；在長期投
資策略上則成果豐碩，顯現自營部對不同市場運用不同的長短
期策略，在面對多空變動快速的市場均可獲得相當的利潤。
2011 年自營業務未來展望
展望 2011 年， KGI 凱基證券自營團隊將持續整合區域資源，策
略運用台灣母公司雄厚之資本及各區域據點之利基，致力創造
區域化效益並提升自營業務獲利。 KGI 凱基證券自營部在台灣
的團隊於 2011 年重新架構操作團隊，採取資源集中投資分散的
策略，充分利用資深交易員的投資能力投資於各種不同的產業，
以提高報酬並降低風險。在交易面，除不斷開發新交易模型，
同時增加與上手券商的合作建立新交易策略，以達成自營業務
獲利多方增長的目標。在業務面增加有價證券借貸業務，以凱
基證券自營團隊長期持之個股投資部位，並轉化為有價證券借
貸業務之券源，創造自營及經紀業務加乘綜效。
Proprietary Trading Business
With global stock markets reeling from multiple shocks last
year, KGI Securities' proprietary trading team had to weather
extreme market risk in 2010. However, the team notched up
excellent results in its long-term investments, thanks to KGI's
proven systems of stringent risk control and trading discipline.
Over the years, the Company has built up invaluable
experience with diverse trading strategies and diverse markets,
ensuring that it can continue to garner profits regardless of
market conditions.
2011 Outlook
KGI Securities' proprietary trading team will continue to
expand into overseas markets in 2011, seeking out new, niche
investment opportunities in different regions. The proprietary
trading division will be restructured in 2011. It will adopt
an investment diversification strategy, using the experience
of senior traders to formulate investment portfolios among
different industries to improve returns and spread risk. KGI
Securities will continue to improve profitability and growth
this year by upgrading its trading platforms and introducing
new trading modules, as well as improve its SBL business
by transferring long-term stock holdings into a SBL source,
thereby creating cross-platform synergies.