我国二板市场的设立方式和运行模式

• 作 者: 肖建清rrrrrrrrrn 刘德学rrrrrrrrrn 张锋
• 出 处: 软件工程师
• 发表日期: 2001年03期
• 关键词: 二板市场 主板 交易系统 组织管理系统 监管成本 监管效率 证券市场 证券交易所 自动报价系统 上市标准

我们认为二板市场应该拥有自己的组织管理系统、交易系统和监管系统,从而与主板市场完全区分开来。一个可能的选择是将目前深圳和上海两个交易所的主板市场合并,由其中一个交易所负责,而二板市场则由另外一个交易所负责。这样做的好处是不仅可以利用现有的资源,尽可能地降低二板市场的运行成本,而且可以带来监管上的便利,节约监管成本,提高监管效率,同时有利于形成一个层次分明、功能健全的多层次证券市场体系。

We believe that the second board market should have its own organization management system, trading system and regulatory system, which completely separate from the motherboard market. One possible option would be to merge the current main board markets of the two exchanges in Shenzhen and Shanghai with one of the exchanges and the second board with the other exchange. The advantage of doing so is that it can not only utilize available resources, reduce the operating costs of the second board market as much as possible, but also bring about regulatory convenience, save regulatory costs and improve supervision efficiency, and at the same time help to form a structured and functional Sound multi-level securities market system.