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2001年7月25日,中国人民银行批准中国工商银行等9家商业银行为银行间债券市场双边报价商。这意味着银行间市场将在我国金融市场中率先建立做市商制度。 做市商制度是一种典型的报价驱动机制。在证券市场上一些具有实力和信誉的证券经营机构,不断向投资者报出特定证券的买入价和卖出价,保证及时成交,投资者可以在做市商所报的价位上向做市商买进或卖出证券。
On July 25, 2001, the People’s Bank of China approved the approval of nine commercial banks such as Industrial and Commercial Bank of China as bilateral bidders for the inter-bank bond market. This means that the interbank market will take the lead in setting up a market maker system in China’s financial markets. Market maker system is a typical quotation-driven mechanism. In the securities market, some powerful and credible securities institutions continuously report to investors the purchase price and the selling price of specific securities so as to guarantee timely transactions. Investors can make market quotations at the quoted prices of market makers Buying or selling securities.