The Research On Revocation Of The Securities Error Trades

Error trade especially obvious errors in trading on the stock market of major, major impact accuracy error clearly erroneous trade in quantity, price and other aspects of the transaction information normal trading in the securities market of realization, to the stock market and financial derivatives linked market losses, serious harm to ordinary investors, securities market in people, the legitimate rights and interests of securities exchange, has brought a serious challenge to the whole order of the securities market. Given the stock exchange and other related subject for the cancellation of errors of power (right), restore the normal trading status, balance the interests of the parties concerned is the proper meaning of securities transactions revocation system error. Securities transaction system based on the theory of error cancellation is right of revocation, there are many different with the traditional right of revocation. Cancel the wrong transactions have strict requirements, not only to correct has gone wrong transactions, but also prudent maintenance has been completed the certainty of the transaction, not only to the pursuit of efficiency of securities trading, also must maintain fair trade; the stock exchange is a stock market discipline group of fabric, as the stock market regulator, the securities service facilities providers, professional independent judgment, judge, occupy the leading position in securities false transaction handling, in order to maintain the equity of the securities market, the integrity and the centralized securities exchange market function, a stock exchange may according to the authority or to exchange participant for starting the cancellation procedure, cancel the wrong transaction should be rational results of a comprehensive considering various factors. Foreign securities transaction cancellation system error tends to be mature, have complete legal provisions and the relief measures, which provides a reference for revocation system construction of securities false trading in china. Cancel the wrong fair damage the interests of relevant subjects, exempt securities exchange exercise supervision behavior caused damage should be civil liability, improper supervision behavior on the stock exchange shall give the relevant subject relief. In this method, comparative analysis of securities trading law, revocation of the error system through normative analysis, has certain theory significance, the establishment and revocation system for our country securities transactions provide simplified assumption wrong, has certain practical significance.