1number plate：Securities trading 1. Providing trading/brokerage services for stocks and stock options 2. Buying and selling bonds for clients 3. Buying/selling mutual funds and unit trust funds for clients Placing and underwriting securities No. 2：Futures contract trading 1. Provide customers with the buying and selling of index or commodity futures 2. Provide customers with index or commodity futures brokerage services 3. Buy or sell futures contracts for customers 3.：Leveraged foreign exchange trading uses margin trading to conduct foreign exchange transactions for customers No. 4：Providing advice on securities 1. Providing investment advice to clients on selling or buying securities 2. Issue research reports or analyzes on securities No. 5：Provide advice on futures contracts 1. Provide investment advice to clients on selling or buying futures contracts 2. Issue research reports or analyzes on futures contracts No. 6：Advising on institutional financing 1 Acting as sponsor for an initial public offering for a listing applicant 2 Advising on the Corporate Acquisition、Advising on mergers and share buy-backs code 3 Advising listed companies on compliance matters under the Listing Rules No. 7：No. 8, an electronic trading platform that provides automated trading services to match customer orders.：Provide securities margin financing to customers who buy stocks and use the customer's stocks as collateral 9Plate：提供资产管理以全权委托形式为客户管理证券或期货合约投资组合以全权委托形式管理基金1号牌-9号牌（个人）的变化趋势，Capital of nine licenses
Require
: 详情见图片若机构要申请成为持牌法团，Need to meet a series of
Require
：
- A company incorporated in Hong Kong or a non-Hong Kong company registered with the Hong Kong Companies Registry
- The company has a suitable business structure、Good internal control system and qualified personnel，Ability to manage risks that may be faced in the business
- For each type of regulated activity applied for，At least two responsible officers must be appointed to directly supervise the relevant activities。
- For each type of regulated activity applied for，最少有一名负责人员可以时刻监督有关业务
- Among the responsible personnel planned to be appointed by the organization，At least one of them must be from the China Securities Regulatory Commission
Require
Executive Director under 6、All executive directors of an institution must seek approval from the Securities and Futures Commission，To become a responsible officer of a corporate body under the above provisions of Responsible Officer，Their competency must also pass the test prescribed by the China Securities Regulatory Commission.。
一家公司在申请领取金融牌照或申请成为注册机构时，香港证监会会依照《证券及期货条例》第129条对持牌法团及注册机构作如下的判断，具体内容如下:
- 主体资格必须是在香港注册成立的公司或在香港公司注册处注册的海外公司
- 胜任能力持牌法团及注册机构在进行相关业务时，要管理好在经营时可能面对的风险，具体而言即拥有合适的业务架构、良好的内部监控系统及合资格的业务人员；（具体参见：证监会另行公布的《胜任能力的指引》、《持牌人或注册人操守准则》、《持牌人或注册人的管理、监督及内部监控指引》）。
- Responsible person(1)每类受规管活动必须委任至少两名负责人员直接监督有关活动；(2)每类受规管活动必须至少有一名负责人可以时刻监督有关业务。
如果角色安排不会造成冲突，同一人可以受委任监督多于一类受规管活动；(3)负责人中至少有一名是符合《证券及期货条例》所定义的执行董事；(4)All executive directors must seek approval from the Securities and Futures Commission；(5)When submitting your license application，向证监会一并呈交所有拟成为负责人员的核准申请；4.大股东等须具备适当人选的资格大股东、senior staff、就受规管活动而雇用的任何其他人，就该类活动与有联系的任何其他人，must be suitably qualified。
有关详情请参阅《证券及期货条例》第129?strip。经过查阅相关资料，When applying for a license，并没有限制信托计划及资管计划等SPV为大股东。但根据《证券及期货条例》第129?strip，要考察大股东的财政能力和偿付能力，SPV为大股东可能很难通过审核。
?5.主体的财政能力持牌法团及注册机构在进行相关业务时，须维持足够的股本及速动资金(速动资金指：能迅速转换成为现金或已属于现金形式的资产)。For example，在申请提供资产管理（第9类牌照）时，持牌法团及注册机构最低应缴纳5百万港元股本及维持3百万港元的速动资金。
据香港保荐人介绍，Based on whether client assets can be held，Can be divided into big and small brands。Big names (unlimited) can hold client assets，Just like domestic public funds,，Client’s assets can be transferred directly to the company’s account，The entire asset can be invested and managed as a unified account。And these investors may not be professional investors (PI)。
But just because of this，In order to protect ordinary investors，The Securities and Futures Commission of Hong Kong has become stricter on such licenses
Require
，Not only does it have extremely high levels of paid-up capital and liquid capital,
Require
，There are also high requirements for licensed responsible persons (ROs).
Require
。So the market price of big brands is higher，Can do more business，Therefore, large listed institutions will tend to apply for or purchase large licenses.，Facilitate business development。
And No. 9 license (small license) cannot hold customer assets，Therefore, separate accounts must be set up for each customer，and may not hold these assets，Can only be managed on behalf of，And investors also have relative restrictions。Because separate account management is a bit troublesome，Therefore, this type of license may be more suitable for private equity funds，Not suitable for broader fund projects。
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