摘要
为提高港元、欧元交易的流动性,解决中小银行港元、欧元结售汇头寸难以平盘的困难,中国外汇交易中心从2002年4月始先后在欧元和港元交易中尝试做市商制度。实践表明,做市商制度兼顾了市场的交易效率和流动性需求,吸取了指令驱动和报价驱动两种市场结构的长处,是银行间外汇市场交易制度改革的重要尝试。
In April 2004,the China Foreign Exchange Trade System introduced a market-making system in EUR and HKD transactions,in order to increase the liquidity of these transactions and help small and medium-size banks balance their positions in trading EUR and HKD.Practice has shown that the market-making system is a significant part of reforming the trading system of the interbank FX market,having met demands for both trading efficiency and liquidity by combining the merits of the order-driven and quote-driven market structures.
出处
《中国货币市场》
2004年第10期56-57,共2页
China Money