Guotai Junan Securities, BCG white paper promotes construction of open securities ecosystem

Leading Chinese securities company Guotai Junan Securities (Guotai Junan) and the global consulting firm Boston Consulting Group (BCG) on Monday jointly released a white paper on “open securities” for 2022, aiming to promote construction of an open securities ecosystem.

“Open securities” is a development concept initiated by Guotai Junan in 2020. It emphasizes platform- and ecology-oriented growth through opening of mindset, business and technologies to boost capacity integration and build a community of values.

To be more specific, in an open securities ecosystem, participants in the capital market, after refining and opening their core capabilities and offerings, will carry out cross-industry collaboration in business scenario integration, data sharing, technology complementation, thus creating new customer experience and enhancing business value, according to Yu Feng, chief information officer of Guotai Junan.

The white paper on open securities for 2022 elaborates the significance of open securities for capital market construction, customer demand satisfaction, as well as industry development and prosperity. It also summarizes pioneering practices of domestic and foreign institutions in strengthening service capabilities, expanding business boundaries and promoting industrial connectivity.

To boost the opening and development of securities sector, a key path for securities brokers to implement the concept of “open securities”, and suggestions for securities firms, financial institutions and technology companies to engage in open cooperation are also included in the white paper.

Over the past two years, Guotai Junan has made progress in practicing the “open securities” concept by initiating an open finance alliance, launching open products such as smart trading system (STS) and OTC financial cloud system, setting up a financial technology lab and working with securities exchanges to build industrial cloud chain infrastructure, said He Qing, chairman of Guotai Junan.

“Open securities” will become a backbone force to propel the transformation and groundbreaking performance of China’s securities industry, which is facing new opportunities and challenges, said Hans-Paul Burkner, global chair emeritus of BCG, adding that he hoped to take advantage of the release of the white paper to promote more open cooperation in the securities sector and cross-industry collaboration.

Source: Guotai Junan Securities