Research On The OTC Market Of Securities Companies In China

From a global perspective,the OTC market is an important market for promoting economic development.The OTC market of securities companies also occupies an important position in the OTC market.Therefore,strengthening the research on the OTC market of securities companies in our country and vigorously promoting the development of the OTC market can not only open up China's revenue channels of securities companies,but also enhance their core competitiveness in the international and domestic capital markets.This article has conducted a comprehensive research on the OTC market of securities companies in our country from the aspects of trading products,transaction scale and amount,customer groups,system construction,risk and supervision.In the course of the research,combining the latest data of China's brokerage business in 2016,the main problems in the trading market of China's current securities brokerage are found: imperfect laws and regulations,lack of connective mechanism between securities companies markets,single product type,improper main structure of market participants,and weak OTC business marketability etc.Supervision is an important factor to promote the development of China's securities companies OTC market.Currently,there are still a lot of shortcomings in China's government supervision.This article analyzes the securities brokerage market from the supervision perspective,and puts forwards following questions: the legal status is inexplicit;the supervision system is ambiguous;the politics is full of color.At last,some suggestions are brought up for the development of the OTC business of securities companies in our country: trying out mixed market makers,differentiating supervision hierarchically,expanding business scope,innovating products and cooperating with bank insurance companies to strengthen the financing ability of securities companies.