Research On The Improvement Of The Neeq's Market Maker Rule

As an important part of China's multi-level capital market,the NEEQ has become a national stock exchange with the functions of financing,trading,mergers and acquisitions and bonds issuance for listed companies with the approval of the State Council.In order to revitalize the NEEQ,the introduction of overseas mature market maker system.However,according to the actual operation,the market maker system of the NEEQ did not reflect its due advantages,instead,many places with imperfect systems appeared.Which led to various problems in the market,including the continued decline in the number of market making companies,the continuous decline in transaction volume of market making companies,the drop in market makers' participation,and the high transaction costs,which in turn affected the enthusiasm of SMEs to choose market making mode and failed to reach an upgrade Liquidity,support the development of enterprises.Therefore,this article will study the NEEQ market maker system,from the theoretical level to explain and combine a large number of statistical data,showing the inadequacies of the existing system.Then,based on the cases of market makers in mature markets overseas,for example,the history of NASDAQ and the development of Taiwan's counter and its institutional advantages,the market maker system that is more suitable for the situation of the NEEQ of our country is analyzed and the suggestions for improvement are put forward.And specifically put forward the proposal of increasing the market maker and inventory management system,establishing a system such as securities lending system and investor access system so as to support the orderly and efficient development of the market at the institutional level,Certain reference significance.