对我国引入做市商制的理论探讨

The Theoretical Probe on Introducing Market Marker System to China

做市商制与集中竞价制是证券市场两种基本的价格形成机制。我国法律未对做市商制进行规定,证券实务界多次提出对做市商制度进行移植。做市商制的移植将是一个系统工程,涉及多项相关制度,甚至会触及其他法令部门,对我国立法与实务水平提出较高要求,该制度的移植将是我国立法与实务阶段性进步的标志。

Market maker system and auction system are basic price system. There is no maker system in our law,but some stock pragma-tists advise to transplant it.The transplant is a systematic project,involving many relative systems,even other law branches. It requires high level about our legislation and execution and it will be a sign for the great progress.