| This paper is mainly talking about the legal construction of market maker in the newthird board stock marker. Taking a wide view on the capital market of our country, the scale ofthe market what to present is "pouring pramid" structure. The stock exchange in the bourse isdeveloped, the outside is undeveloped. Because of the unbalance development in the capitalmarket and high acquire about loan, the small and medium enterprises can not get margineasily. In order to solve these problems, we should look for a new path.The new third board stock exchange market(called the new third board marker asfollow)has been built since2006, it is referred particularly to Zhong guancun Stock TransferAgent System. It plays an important role in the capital market, and provides a share transferplatform for high-tech growth enterprises. With the help, the enterprises can get margin easily.In the New third board market, shares transfer through negotiated dealing system. But thistransaction system isn’t suitable for the market, and cause lots of problems, such as lowefficiency of trading, poor in price discovery. As a well known system, the market makersystem can solve the problems of the new third board market, so it is necessary to introducingthis system into the new third board market.This thesis is divided into four chapters. The first chapter introduces the situation of thenew third board market and the market maker system, discusses that the market maker systemwill play an important role in the market. The second chapter analyzes the economic and legaltheories about the market maker system in the new third board market, and the actualconditions support running the system on the market. The third chapter introduces the typicalmarket maker system of different countries and areas. That helps us to find the common characteristic of market maker system. In the last chapter, the suggestions is provided, whichis a construction of market maker system in the new third board market. |
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