从20世纪90年代中期起，证券市场迅速发展，机构投资者的实力逐渐增强，大宗交易的数量不断增长。由于大宗交易中交易的证券数量和金额较大，各国的大宗交易制度对大宗交易的撮合方式、价格确定和信息披露等方面的处理方式也相应的有所不同，所以其交易成本能否准确被衡量将在 From the mid-1990s onwards, the stock market developed rapidly, the strength of institutional investors gradually increased, and the number of large-scale transactions continued to grow. Due to the large amount and amount of securities traded in the block trades, the system of dealing in bulk trades in different countries also has different handling methods for block trades, price determination and information disclosure and so on, so the transaction costs can be accurately estimated by The measure will be there