The CSRC approves the first batch of scientific and technological boards to be qualified for city business business!8 brokers drink "head soup"

Reporter Wu Xiaolu

据证监会网站9月16日消息，证监会批复首批8家券商的科创板做市商资格，分别是：申万宏源、华泰证券、银河证券、中信建投、东方证券、财通证券、 Guoxin Securities and Guojin Securities. Photo source: Screenshot of the Securities Regulatory Commission website. According to reporters, the Shanghai Stock Exchange is currently ready. In the next step, the Shanghai Stock Exchange will apply according to the eligible securities company to complete the record after completing the filing, and steadily promotes the science and technology board stocks as a market trading business. Market participants believe that since the opening of the science and technology board, the registered registration system has been steadily piloted, and the reform of basic systems such as issuance, listing, information disclosure, transactions, and delisting has been promoted. Create good conditions. At present, the introduction of the business mechanism of the market will help further enhance the liquidity of the science and technology board stocks and the market toughness of the market. At the same time, it is also an important measure to continue to improve the basic system of the capital market and further exert the role of the "test field" of the science and technology board reform. The Shanghai Stock Exchange is ready to apply for May 13, and the CSRC issued the "Regulations on the Pilot of the Stocks of the Securities Company Science and Technology Board Stocks"; on July 15, the Shanghai Stock Exchange released the "Shanghai Stock Exchange Science and Technology Innovation of Science and Technology Innovation The Detailed Rules for the Implementation of Board Stocks Municipal Transaction Business "and" Shanghai Stock Exchange Stock Exchange Business Guide No. 8 -Science and Technology Board Stocks ", which clarifies the application and termination of the city's service, the rights and obligations of the market business, and the city to do the city. In terms of business supervision and management, we will make more specific and detailed transactions and regulatory arrangements for the science and technology board. According to the incomplete information of the public information, as of now, in addition to the above eight videos, Dongxing Securities, Founder Securities, Zhejiang Business Securities, Soochow Securities, CITIC Securities, Tianfeng Securities, China Merchants Securities, Zhongtai Securities, Everbright Securities Nine brokers have publicly stated that they plan to apply for science and technology board stocks to do the city trading business. According to the reporter's understanding, the Shanghai Stock Exchange is currently ready to do the city's trading business technology system, business filing, supervision and management and other aspects. In the next step, the Shanghai Stock Exchange will complete the filing of specific science and innovation board stocks based on the qualified securities company application, steadily promote the launch of the science and technology board stocks, and make every effort to ensure the orderly implementation of the business mechanism of the science and innovation board. The "experimental field" role of creative board reform has comprehensively promoted the high -quality development of science and technology boards. Providing liquidity flat -to -market "irrational fluctuations" of the market "irrational fluctuations" of the Shanghai Stock Exchange show that as of September 16, the number of science and technology board companies reached 463, with a total market value of 5.78 trillion yuan, average price -earnings ratio of 46.38 times, and the turnover rate on the day of the day. 0.8107%. Market participants believe that the introduction of the science and technology board will improve the liquidity of the science and technology board and further active transactions. At the same time, some city merchants will have a relatively more objective judgment on the fair value of individual stocks and will promote the discovery of stock prices. Guojin Securities believes that the introduction of science and technology boards will have three impacts on the market: first, improving market liquidity, improving the continuity of investors' transactions, thereby improving market transaction activity; second, to provide the market with listed companies with listed companies The reference quotation, stabilize the market's expectations for the secondary market price of the enterprise, thereby enhancing investors 'willingness to participate in transaction participation and promote the return of enterprises' prices to internal value. The transaction plays a certain "stabilizer" in the secondary market price. "The exchanges have a strict assessment of the city merchants. To make a market business, the market needs to meet a considerable participation rate in the gathering of bidding and conventional transactions. In addition, the exchange also has strict regulations on the minimum number of municipal merchants." CITIC Securities believes that therefore, the existence of the city merchants will increase the number of orders and reduce the price difference between the optimal trading and sale, and then reduce the impact cost of investors' trading and improve liquidity to a certain extent. In addition, some market makers have a relatively more objective judgment on the fair value of individual stocks, which promotes the price discovery of the stock, especially for individual stocks with relatively poor liquidity. The noise investors have the herd effect of buying and selling. The market is prone to unbalanced supply and demand. As a market businessman, at this time, it can act as the opponent of this part of the noise investors, so that the market is relatively balanced and then reduce fluctuations. In addition, the science and technology board as a market business system is also beneficial to small and medium investors. Huatai Securities stated that there are often markets that do not do the market for the municipal business system. The advantages of market merchants in terms of funds, systems, and personnel can restrain the "irrational fluctuations" of the market to the greatest extent. Thanks to the forward -looking layout of the science and technology board as the marketing system, the city merchants will definitely become the "Dinghai God Needle" of the science and technology board stock market. For the core competitiveness of the comprehensive financial service capabilities of securities firms, for securities firms, science and technology boards can increase new profit models, enhance comprehensive financial services capabilities and business competitiveness, and promote the high -quality development of securities companies. Oriental Securities believes that for the securities company, the science and technology board business is an innovative business, and the city's business performance provides bilateral continuous quotation, bilateral response quotes, etc. Essence Participating in the science and technology board market can add a new profit model to securities companies, which is conducive to improving the stability of securities companies' performance. At the same time, doing the municipal trading business can link with investment banking business, research consulting and other businesses, extend the customer service chain, and enhance the core competitiveness of securities companies.

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