权证市场风险监控法律制度的完善

Improvement of Risk's Supervising Legal System on Warrant Market

从权证的市场表现来分析我国证券市场权证的活动特点和风险种类,对权证风险监控制度进行理论上的建构,有助于完善我国权证市场的风险监控法律体系。在我国,自权证再次上市交易至今,权证市场经历了从暴涨到暴跌的冰火两重天的发展态势,从中暴露出了一些严重的法律问题,尤其是以券商评级和价格监控为主的风险监控法律制度亟需得到完善。针对不同环节中出现的不同风险,提出有建设性的解决方案,以期对后来出现的金融衍生品监管法律制度的创新和完善提供一些启示。

Based on analyzing the market performance of warrants, this article will explain warrants＇ operational characteristics and risk types. At the same time, it will discussion the warrants risks＇ supervising systems theoretically and legally. In our country＇s security market, warrant market has experienced the very abnormal developing situation since its issuing and circulation, which exposed some serious legal problems, especially on securities dealer evaluation system and price controlling system. These kinds of risks＇ are required to improving supervising systems hastily. In accord with different risks, this article will provide some effective solutions so as to enlighten afterwards appeared financial derivatives supervising legal systems.