The Study On The Supervision Of Market Maker's In China's New Three Board Securities Trading Market

Since the new three board of securities trading market to expand its capacity,in order to make the market active and enhance market's liquidity,we introduced the market maker system.Then in the current relatively young new three board market,market makers are unlikely to smooth sailing.Of course,the contribution of market makers to the capital market is very obvious,the main role is to improve the transaction activity,to maintain market liquidity,promote price discovery,maintain market stability,improve information transparency and so on.However,in China,the advantages of these areas have not been fully exploited,and there is a certain degree of illegal problems,mainly due to the lack of regulation of the market maker's right and duty,access and exit regulation and legal supervision.lt can be said that in order to give full play to the functions of market makers,to promote market liquidity and ensure the healthy development of the new three board market,we must pay attention to these problems and improve the legal supervision system.This paper will start from the point of view of the regulation of the market maker,study the current situation of the supervision system of the new three board 's market maker system,the reason for the supervision of the market maker and the system design of the supervision of the market maker,hope to be able to make favorable help to market maker system to provide healthy development.This paper is divided into three parts:The first part mainly introduce the connotation of the market maker's trading system,and compares the concept of the market maker with the banker and the securities broker.The main purpose is to pave the way for the later discussion.The second part briefly introduce the role of the market maker system,mainly introduces the main legal problems in the market behavior of the market maker,and finds out the reasons for the supervision of the market maker,and analyze the necessity of the system design for supervising.The third part is devoted to the system design of the supervision of the market maker.The main research is the regulation of the legal regulation,the main body of supervision that is the regulatory system,market maker's access and exit,as well as the main behavior of market makers.