A Study On The Strategy Of Building The Unity OTC Market

The word over-the-counter Market (Over the counter Market, hereinafter referred to as the OTC,) coming from the early days of the United States of stock and bond transaction, it is different from the stock exchange securities trading places.As the most ancient securities trading places,the history of development of the OTC market has hundreds of years. Because the OTC selling the stock to the customer in the bank counter, it is known as the counter trade.At the same time,as the transaction and exchange traded of OTC is different from in the stock exchange, so it is also known as do the over-the-counter market. The over-the-counter market of our country was founded in20century, it has already developed for more than20years time. its development process is compared. In the early20s, the new San Ban market starting and Tianjin equity exchange formal operating shows that China’s the over-the-counter market development rises again. The rising is much different from the past. it rises up under the background of the world financial crisis, arises in the conditions of national policies to encourage the construction of the country’s multi-level capital market, and arises in the environment of private economy in great demand for capital. After the new development in recent years, the OTC has made some progress.But a unified, national over-the-counter has not been formed, and it is greatly hindered the our country the function of over-the-counter market services economic development.In the aspect of the overall situation of China’s economic and social development, unified is one of the key of the rend in the development capital market, the unity of the capital market to integrate existing resources, improve the utilization rate of resources, reduce the operation cost of the market, and to improve the security of the whole market. The unity of the over-the-counter market is the important segment of the capital market unified.From the point of the development of the over-the-counter market, property right trading market, new San Ban,and Tianjin equity exchange "each does things in his own way",and the state of three market to date is not only lead to resources waste, and results in excessive competition, so the integration of existing resources and broken the conflict of interest situation is imminent.Paper is using multi-level capital market, market segment and the financial function related theory, adopts the method of the comparison of the inductive.Through analysis of the necessity of the unity of building the over-the-counter market in our country,summing up international mature to the over-the-counter market development experience, and in combination with the present situation development of over-the-counter market in China, the paper puts forward strategy advice about the unity of the over-the-counter market. In the first,we should make clear the positioning of the over-the-counter market, second,we should unify the trading rules, listed standard, supervision system, electronic network and modern transaction technology, and gradually establish a nationwide network quotation, clinch a deal, unified supervision of dispersed electronic market.The scale of the market is enough big and provide more service for small and medium enterprises, and in the process of operation shall be fair, efficient, liquidity, transparency. In the process of building a unified the over-the-counter market may involve problems of interests between property right exchange department,it enhances the difficulty of the integration,and we needs the government issued new policy to support the over-the-counter market construction,and trying to coordinate the interest in the various aspects, and a unified the over-the-counter market can finally form.