台湾场外交易市场发展现状评析及其启示

On the Present Situation of OTC Development in Taiwan Region and its Inspiration

在我国台湾地区,场外交易市场经过半个多世纪的发展,具备一定的特色和优势。特别是新世纪以来,台湾场外交易市场经过三次大的系统升级,能够完成包括股票、债券、衍生产品等多种金融工具的交易撮合和信息公开,市场发育程度较高。本文首先评析目前我国台湾地区OTC市场的发展特点与创新,而后利用SWOT模型分析台湾地区OTC市场优势、不足、机会和风险,最后对大陆场外交易市场未来发展提出若干建议。

In Taiwan Region,with the development of over 50 years,OTC has its own features and advantages.Particularly,since the year of 2000,after three times of system upgrade,OTC can complete the trade match and information disclosure of many financial tools such as stocks,bonds and derivatives.In this paper,I first make an analysis on the development features and innovation of OTC market in Taiwan Region,and analyze the advantages,disadvantages,chances and risks of OTC,and finally propose several suggestions for the future development of mainland OTC trade market.