Supervision Of The Legal System Of Alternative Securities Trading System Research

In a networked sweeping the financial industry of the global, most notably the development is that of securities trading network. Internet securities trading has brought a revolutionary change to the securities market, in addition to the change has brought the vast number of securities investors to trade facilitation and greater economic benefits, but also gave birth to a new type of securities trading system-Alternative securities trading system.Simply to say, the alternative securities trading system is to provide investors with securities trading in the virtual place. Because of its technical advantages, it can be traded in closed after-hours, trading varieties of rich, reducing transaction in the middle part, anonymous transactions, etc. to improve the investors's enthusiasm. Therefore, the alternative securities trading system in the Western developed countries have achieved great success, and some experts predict that in the future it may replace securities status. However, the alternative securities trading systems as a financial innovation, and through the network to complete the entire process of securities trading, so that itself with unique risk exists. If these risks can not be effective against, not only affect the development of alternative securities trading system, but also cause losses to investors and affect the stability of the original securities. So, how effective to supervise the alternative securities trading system and regulate its securities trading activities to promote its healthy development, has become the urgent problems to national regulatory authorities.In this paper, the regulation legal system of the alternative securities trading system were systematic research. First of all, it introduces the basic situation of the alternative securities trading system, and analyzes the inadequacies of traditional securities exchange of the securities transactions, whereas the alternative securities trading system that has the advantage can be effectively offset this shortfall. If the establishment of the new securities trading system, not only to promote the further development of securities trading and innovation, but also the broad masses of investors benefit from it. However, the alternative securities trading system has also risks, such as the risk of market segmentation, technology operational risks and legal risks, etc. If this new securities trading system is introduced, these risks must also be introduced. Therefore, nothing but effective control to it, only to prevent their risks and reduce its impact on traditional securities regulation. At present, there is not an alternative securities trading system, but judging from the development of our country, our country has already had established its feasibility. Therefore, the after of the alternative securities trading system has been established in our country, how regulate to it, will became the first problem of the securities regulatory authorities facing to solve. Therefore, based on the situation of China, to learn from Europe and the United States and other countries of the mature regulatory experience, and built up an alternative securities trading system of China legal regulation system, which is very important to establish the alternative securities trading system in China and the securities regulatory authorities according to law to monitor.