With deep reform of multi-level capital market.National Equities Exchange and Quotations(NEEQ)and Regional Equity Exchange Market have made great progress.National capital market will be more prosperous in the registration reformation of securities issuance.However,a big flaw still exists in the interoperability multi-level capital market.Over-The-Counter(OTC)market ? exchange transaction market ?Second-board Market and Main Board Market do not have convenient transfer mechanism.Therefore,it is urgent and important to establish a legal system of transfer board.A scientific concept and A mature legal and market background along with experiences from home and abroad are crucial for constructing transfer board system.This academic paper starts with the construction of basic theories about transfer board legal system through analyzing the problems of our country's exchange transaction market and taking in experiences abroad to bring up relevant proposals about form our country's exchange transaction market system. |