We derive revenue primarily from our brokerage, sales and trading business, which includes:
Brokerage and wealth management: We execute trades on behalf of clients in stocks, funds, bonds, derivatives and futures, and provide comprehensive wealth management services to our clients;
Institutional sales and investment research: We market and sell securities products and services to institutional investor clients and provide professional research services to facilitate their investment decisions;
Margin financing and securities lending: We provide collateralized margin financing and securities lending services, which provides financial leverage for our clients and enables our clients to engage in short selling; and
Proprietary trading and other securities trading services: We engage in proprietary trading and provide other securities trading services to enhance liquidity for clients and accommodate our clients’ investment and financing needs.