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System Research Of Securities Wrong Trading Revocation

Posted on:2015-01-21Degree:MasterType:Thesis
Country:ChinaCandidate:Q W JinFull Text:PDF
GTID:2266330428975075Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
In recent years, the stock market trading of errors occur frequently, existing laws and regulations on the disposal of an error transaction appeared to be inadequate. Because the process is highly dependent on securities transactions in the electronic system, it is inevitable occurrence of various human errors and system failures to form a major error transactions. Error trade is threatening the stable development of the securities market, not only directly harm the interests of investors, have an impact on authenticity of the stock market transactions information and the determine of other investors, but also have adverse impact on other relevant market investors. And our existing laws and regulations on the error identification of the transaction is not perfect, and not strictly limit the scope of the limited measures can be taken when an error occurs in the transaction, and lack of full implementation of the system of exchange liability in this process is also not yet clear. The revocation of system errors in foreign country is already a mature system, but in our country is still blank. Error trading system is not only beneficial to revoke maintain fair and orderly securities markets, to protect investors and the public interest, to better protect the exchange price discovery function and centralized bidding play.Part Ⅰ: The theoretical foundation of Securities Trading Error revocation system. Focus on the wrong transaction revoke the relevant definitions, including the definition, content and scope of the error transactions; analysis of the legal basis for revocation of the inherent error transactions and explains the legitimacy and necessity of the error trading revocation system.Part Ⅱ:Securities error transactions revocation system comparative law study. From the legislation of each country’s stock exchange starting investigated by the National Stock Exchange, Frankfurt Stock Exchange and the London Stock Exchange on the error transactions identification of the disposal process and the responsibility of the exchanges, and by comparative analysis, provide a reference for the establishment of erroneous trades revocation system.Part Ⅲ:The Status analysis of erroneous trades revocation system. Focus on existing laws and regulations on the definition of errors transaction and disposal measures, by analysis of the Securities Act, not only to define the scope of the transaction error is too narrow and disposal measures provisions is the lack of maneuverability.Part Ⅳ: Conceiving of perfect the error trade revocation system. Through the reference and comparative law analysis of defects of our system, on how to identify errors transaction, errors trading revoke the main proceedings to revoke the relevant substantive and procedural systems and propose ways to improve relief proposals. After revocate trading, the liability of Exchanges proposed the idea of distinguishing Exchange subjective state of mind and in-depth analysis.
Keywords/Search Tags:Wrong trade, Revocation, Status analysis, Perfection
PDF Full Text Request
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