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新三板证券交易市场(以下简称新三板市场)自2006年建设试点至今,已逐步显现出其重要性,在一定程度上缓解了中小企业融资难的问题,在我国场外证券交易市场中发挥着重要的作用。之前的被动交易机制使得新三板缺乏吸引力,引起的关注较少,市场交易不够活跃,企业融资难的问题没有得到有效解决,这些都导致了其流动性较低。随着新三板做市转让的正式实施,新三板市场交易不活跃、流动性不高等问题得到了一定的解决。本文通过展示做市商制度实施以来的数据,证明做市商制度的重要性,并列举新三板制度存在的缺陷。
Since the Pilot Project was established in 2006, the new Third Board Securities Trading Market (hereinafter referred to as the “Third Board”) has gradually shown its importance. To a certain extent, it has alleviated the problem of financing difficulties for SMEs and has played an important role in the OTC securities market in China Important role. The previous passive trading mechanism made the new three-board unattractive, caused less attention, the market was not active enough, and the problem of corporate financing was not effectively solved. All this led to its low liquidity. With the formal implementation of the new Third Board market transfer, the issue of the new Third Board market was not active and the liquidity was not high, and some other issues were resolved. This article demonstrates the importance of the market maker system by demonstrating the data of the market maker system and lists the shortcomings of the system.