deal!The first eight list was announced!

On September 16th, the CSRC approved the listed securities of Shenwan Hongyuan Securities, Huatai Securities, Galaxy Securities, CITIC Construction Investment Securities, Oriental Securities, Caitong Securities, Guoxin Securities, Guojin Securities, and other 8 securities companies to do the city trading business.

After the above 8 securities firms are filed with the Shanghai Stock Exchange, they can try to engage in science and technology board stocks to do the market transaction business.

At present, all aspects of the Shanghai Communications Institute are ready. In the next step, according to the qualified securities company applications, it will complete the filing of specific science and innovation board stocks, and steadily promotes the science and technology board stocks to launch the market trading business.

According to the Shanghai Stock Exchange, 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 play the role of the "test field" of science and technology board reform.

According to data on the website of the Shanghai Stock Exchange, as of September 16, the number of science and technology board companies reached 463, with a total market value of 5.78 trillion yuan, an average price -earnings ratio of 46.38 times, and a turnover rate of 0.8107%on the day.

Sun Jinzheng, vice president of open source securities and director of the Institute of Research, told the reporter of the Securities Daily that for the science and technology board, on the one hand, the marketing merchants can provide liquidity support for individual stocks through bilateral quotation services and foan securities financing and other supporting arrangements. On the other hand, the responsibility of the market business has the responsibility to participate in the market when the stock price is alienated to enhance the stability of individual stocks. At the same time, as a professional institution, active transactions can help promote the discovery function of the capital market price, thereby improving the rationality of the pricing of individual stocks.

Wang Weiyi, chief analyst of non -bank finance and fintech industry in the Institute of Ping An Securities Institute, told the Securities Daily that the introduction of the market business transaction mechanism helps to increase the traffic activity of science and technology boards, and to restrain the irrational fluctuations in market prices. At the same time, it will accumulate experience for the reform of the capital market and steadily connect with the comprehensive registration system. The official implementation of the pilot of the city merchants will continue to accumulate experience, and it is expected to steadily advance to the stockboards such as the motherboard in the future.

According to incomplete sorting out, in addition to the first eight batch of the first batch of batch of batch of batch of batch, nine brokers have publicly stated that they plan to apply for science and technology board stocks to do the market transaction business.

For securities firms, Sun Jinxun believes that the need to conduct in -depth research on listed companies in a marketing company has put forward higher requirements for securities firms.

In addition, securities firms and stocks can be used as sources of vouchers. Sun Jinxun said that this means that it can revitalize the assets of securities firms. With the further development of the municipal merchant system, my country's securities firm's heavy asset business structure is expected to undergo significant changes. From the past, it is mainly based on self -investment investment to the main business and valet business to improve the certainty of performance.

"The launch of the municipal business business is expected to extend the business chain of the head securities firm to promote the further improvement of the industry concentration." Lu Hao, a non -silver analyst of CITIC Securities Research Department, told the reporter of the Securities Daily that in terms of the source of the voucher, the science and technology board will be the science and technology board. As the source of stocks as the source of the market, it has adopted a model that is closer to the transfer business, which is conducive to ensuring that the market dealership transaction scale, thereby enhancing market liquidity and enhancing the ability to discover the price within the day. At the same time, sponsor securities firms will have the advantage of voucher sources and play a more positive role in market pricing. It is expected to enhance the business stickiness of head securities firms and science and technology board listed companies, establish a complete service chain spanning the first and secondary markets, and further enhance the market share of the head securities firm.

"The qualification requirements of the Shanghai Stock Exchange for the science and technology board are higher than the mature capital market overseas, and to a certain extent, it has adapted to the current situation of my country's capital market development." In terms of, you can gradually let go of the threshold for market businessmen, increase the number of participants, and enhance the efficiency of municipal businessmen. On the other hand, problems such as business business isolation and prevention of interests can be further improved.

A little more news >>

What are the conditions for securities firms to participate in the first batch of pilots?

Brokers who can participate in the first batch of pilots must meet the two major conditions of the two -year class A class A (inclusive) or above in the last three years.

Earlier, the Shanghai Stock Exchange has issued and implemented the "Implementation Rules for the Implementation of the Shanghai Stock Exchange Science and Technology Innovation Board Stocks for the Municipal Transaction Business" and the "Shanghai Stock Exchange Stock Exchange Business Guide No. 8 -Science and Technology Board Stocks", which is the science and technology board. Make more specific and detailed transactions and regulatory arrangements for the market transaction business.

According to the rules, the market businessmen should use their own funds, carry out the market transaction business through special securities accounts, provide the market with two -way quotation, and comply with relevant regulations such as changes in rights and interests and short -term transactions. For the active performance of the city's obligations, the transaction fee will be appropriately reduced or inspired.

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