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“317”证券风波平息不久,“龙头券319”又被炒出“天价”,叵按1997年4月1日为兑付日,加上保值贴补率等因素,该券价格理论值为183.87元,而在市场中居然竟价到190元之高。惊乎?怪乎?处于初始阶段的国债期货市场几乎成了一个庞大的“睹场”。如此火曝的“睹气”,如此失出理智的行为,是何种原因造成的呢?人们会不禁地提出这一问题。 最近,笔者参加了对湖南省证券机构的稽核检查,对当前证券业的现状略有所知。我们毫不否认,证券业的复苏确实给国民经济带来了活力,开拓了金融新领域,改变了国债发行靠行政摊派的格局,促进了金融和经济体制的发展。但是,各证券机构在经营运作中的种种违规、混乱的行为不得不引起我们的关注。
“317” securities crisis subsided shortly afterwards, “leading coupon 319” has been speculation out of “high price”, according to April 1, 1997 as the date of redemption, with the hedging rate and other factors, the voucher price theory is 183.87 yuan, In fact, the actual price in the market to 190 yuan high. Strange? Strange? In the initial stage of the bond futures market has almost become a huge “scene.” What kind of causes are the causes of such a sensational act of “seeing the air” so exposed? One can not help but raise this issue. Recently, I participated in the audit of Hunan’s securities agencies, the current status of the securities industry is little known. We have no denying that the recovery of the securities industry has indeed brought vitality to the national economy and opened up new areas of finance. It has changed the pattern of issuance of government bonds by way of an administrative apportione and has promoted the development of the financial and economic systems. However, all kinds of irregularities and chaos in the operation of securities institutions have drawn our attention.