证券市场导报
證券市場導報
증권시장도보
Securities Market Herald
2005年
11期
44~49
,共null页
国债市场 做市商 MTS市场
國債市場 做市商 MTS市場
국채시장 주시상 MTS시장
treasury market; market mtaking; MTS market
考察国外债券市场发展的实践,我们发现做市商制度是活跃国债市场不可缺少的因素,起着举足轻重的作用.目前,我国银行间债券市场虽然也存在做市商制度,但是有行无市的困扰一直存在,形同虚设.本文重点对美国国债市场和欧洲MTS市场的做市商制度进行介绍,以期对我国国债市场做市商制度的发展和完善起到一定的借鉴作用.
攷察國外債券市場髮展的實踐,我們髮現做市商製度是活躍國債市場不可缺少的因素,起著舉足輕重的作用.目前,我國銀行間債券市場雖然也存在做市商製度,但是有行無市的睏擾一直存在,形同虛設.本文重點對美國國債市場和歐洲MTS市場的做市商製度進行介紹,以期對我國國債市場做市商製度的髮展和完善起到一定的藉鑒作用.
고찰국외채권시장발전적실천,아문발현주시상제도시활약국채시장불가결소적인소,기착거족경중적작용.목전,아국은행간채권시장수연야존재주시상제도,단시유행무시적곤우일직존재,형동허설.본문중점대미국국채시장화구주MTS시장적주시상제도진행개소,이기대아국국채시장주시상제도적발전화완선기도일정적차감작용.
Given the experience overseas, market making is an essential factor to improve liquidity of bond market. Market making is implemented in inter-bank market in China. But the market has been troubled by poor liquidity. This paper reviews the market making system in US market and MTS market in Europe in hope to provide with positive implication to China.
