A Study On Trading Mechanisms In China's Secondary Board Market

Taking secondary board market as its researching object, the thesis analyzes the catalogs, characteristics and targets of trading mechanisms by means of theoretical and empirical perspectives. Based on these, it discusses which trading mechanism should be chosen in our country's secondary board market with the conclusion that the market-maker rule should be the best choice. Against problems which may arise with the adoption of market-maker rule, this article proposed the following counter-measures: establishing solid legislations; cultivating qualified market-makers group; establishing a well-developed system of capital markets; introducing sell-short mechanism and establishing hedge markets; adjusting regulatory framework and strengthening regulation on market-makers.