CHINA: SSE Announces STAR Market Gets Ready for Market Making

Monday October 17 2022

On 15^th October 2022, the Shanghai Stock Exchange (SSE) announced Implementing Opinions on the Setting-up of the Science and Technology Innovation Board and the Launch of the Pilot Registration System on the Shanghai Stock Exchange, further promote the establishment of the STAR Market and the pilot registration system reform, and improve the trading system of the STAR Market, under the guidance of the China Securities Regulatory Commission (CSRC), the Shanghai Stock Exchange (SSE) actively promotes the introduction of a new mechanism for market making trading of stocks on the STAR Market, and goes all out to make preparations for the market making trading of stocks on the new board.  

At present, the SSE has completed various preparatory work and is ready to launch the stock market-making trading business of the STAR Market. As of October 14^th , 2022, with the approval of the CSRC, 14 securities companies have obtained the qualification of market making trading business for listed securities, indicating that some securities companies have the conditions to carry out the market-making trading business of stocks on the STAR Market. 

The introduction of market maker mechanism is an important measure to continuously improve the basic system of the capital market and further play the role of pilot zone of STAR Market reform. It is conducive to improving the liquidity of stocks, releasing market vitality, enhancing market resilience, and is of great significance to comprehensively promote the high-quality development of the new board.  

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