A Research On Mode Optimization Of Market-making Business Of Wanlian Securities Co.in NEEQ

In recent years,China's economic development has undergone new changes.On the one hand,with the gradual disappearance of the demographic dividend,traditional manufacture declines and overcapacity problem becomes increasingly prominent.On the other hand,the concept of green and technology GDP become deeply rooted in citizens' mind,and rapidly promotes the development of emerging industry.Meanwhile,the national economy steps into a "New Normality",and economic growth would gradually shift to lower speed.In order to prompt the sustainable growth of the national economy,many policies have been introduced by the government to adjust the industrial structure,remove the excessive capacity,encouraged the entrepreneurial innovation and promote the emerging industry.Speeding up the organization set-up of the multi-level capital market is one of the most significant actions.As the National Equities Exchange and Quotations(NEEQ)has been launched,the market-making business(MMB)for the small-sized and medium-sized enterprises came to the stage of NEEQ.This paper takes the example of Stock Tansfer System Market making Business(STSMB)of Wanlian Securities Co.,and analyzes the present situation of the current MMB development in domestic and foreign market,the current business model of Wanlian Securities Co.'s MMB,the existing problems and key points which could be optimized and improved.Firstly,this paper discusses the current situation of STSMB of Wanlian Securities Co.and raises questions about the status quo.Secondly,we optimize operation mode of MMB in multiple dimension from organizational structure,authorized examination and approval system,investment management,transaction management,after-investment management and risk management.Finally,we introduce the optimized scheme for security measures and the expected effect of Wanlian Securities Co.'s MMB.With MMB developing,the NEEQ listed companies not only required the MMB organization providing the deal and quotation services,but also pay attention to their abilities of industrial-chain integration,sales and research.It is predicted that the role of NEEQ MMB will shift from a simple quotation service provider to the listed company strategic investors.The one,who takes the rapid and successful lead of the role-shifting,will apparently become a strong competitor in the market.The reasonable business operation mode of Wanlian Securities Co.'s MMB would be a reliable reference to rest of the MMB servicers in NEEQ.