The China Fund Trading Commission Allocation and Details Database, developed by CnOpenData, constitutes a granular dataset that deeply reveals the trading behaviors of Chinese public funds and the brokerage service ecosystem. This database systematically collates transaction details and commission payments of each fund across different securities firms, based on legally mandated annual and semi-annual reports disclosed by public funds. It comprehensively covers trading volumes, proportions, and corresponding commissions for major securities categories such as stocks and bonds. Through this database, researchers can gain profound insights into fund companies' trade execution strategies, competitive dynamics within the brokerage service market, and behavioral characteristics of institutional investors, thereby establishing a robust data foundation for microstructure research in financial markets.
Key Features:
- Multi-dimensional Characterization of Trading Features: Encompasses instrument dimensions (stocks, bonds), entity dimensions (fund managers, trading brokers), and temporal dimensions (continuous reporting periods). Supports comprehensive analysis of trading patterns, cost structures, and business relationships, achieving systematic depiction of fund trading ecosystems.
- Authoritative Source Ensuring Reliability: All data originate from periodic reports legally disclosed by public funds. Professional extraction, cleaning, and standardization processes ensure data authority and accuracy, meeting stringent academic requirements for data quality.
Potential Applications:
- Academic Research: Investigate institutional trading behaviors (e.g., herding effects, window dressing effects), relationships between fund performance and transaction costs, and correlations between brokerage research services and fund decision-making. Analyze market competition structures, concentration levels, and core competencies of securities firms (e.g., research capabilities, trade execution abilities). Examine potential conflicts of interest between fund companies and affiliated brokers, as well as impacts of fund governance structures on trading behaviors.
- Commercial Services: Brokerages can conduct precise competitive benchmarking by analyzing their own and competitors' commission revenues and market shares, thereby optimizing institutional client service systems and sales strategies. Fund companies and asset managers may evaluate the cost-effectiveness of brokerage services to optimize trading seat allocations, ultimately reducing overall transaction costs and enhancing investment returns.
- Policy Optimization: Utilize this data to monitor potential anomalies in fund trading (e.g., compliance of commission-for-research services), assess the scale and impact of "soft dollar" transactions, and provide empirical evidence for formulating policies on fund commission allocation, commission disclosure, and related-party transactions. This promotes greater transparency, fairness, and efficiency in capital markets.
By offering microscopic details of fund trade executions, this database establishes a unique data bridge connecting investment decisions with market practices. Its multidimensional design, reliable data quality, and robust internal validation mechanisms render it essential infrastructure for researching China's capital market efficiency, optimizing commercial decision-making, and supporting regulatory policy development—demonstrating significant academic value and practical relevance.
Time Coverage
1999-2024
Field Specifications
Sample Data
Data Update Frequency
Annual updates