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票据市场是以商业票据为金融工具,主要从事短期融资交易或融资业务的货币市场,包括票据发行承兑的一级市场和票据转让贴现的二级市场。票据市场通过票据的签发承兑、贴现、转贴现和再贴现等业务把企业、商业银行、中央银行有机地联系在一起,从而有效地传导货币政策。票据市场对相关市场及其参与者具有重要意义,主要体现出以下几点:
The note market is a money market where commercial paper is used as a financial instrument. The paper market is mainly engaged in short-term financing transactions or financing businesses, including the secondary market where bills issuance acceptance is accepted and discounted bills transfer. The bill market organically connects enterprises, commercial banks and the central bank through the issuance of bills acceptance, discount, rediscount and rediscount business, so as to effectively guide the monetary policy. The note market is of great importance to the relevant markets and their participants, mainly reflecting the following points: