Recently, the Shenzhen Stock Exchange formally issued a Compared with the original rules, the new revised the balance sheet date and other sensitive suppression of deliberately lift the stock price through false reporting of unusual behavior such as opening a clear focus on monitoring behavior. Also, because of special events for the exchange may be the case of silence for the earthquake victims in the case of temporary suspension, the new Shenzhen Stock Exchange, according to the Commission for provisional suspension provisions.
additional set price limits
years ago, part of the shares is expected to soar! Confidential! Market institutions will soon be reversed capital flows have changed dramatically! Main funding is plotting a new layout
Trading Rules First remove the small plate on the stock during the continuous auction set the effective range of the recent auction price plus or minus 3% of the content, the board, small board and the GEM unified stock effective range is set to auction 10%, to facilitate investors to understand. Second, the abolition of the additional shares on the first day opening price limit rules. Third, no price limit lifted bulk trading price of securities can be traded in the day had the highest, lowest among the identified requirements.
take into account the small plates float caps small stocks, shares the characteristics prone to abnormal fluctuations in 2006, %, in order to avoid share price volatility during the continuous auction. However, in practice the system found to inhibit the effect of stock price volatility is limited, and the system motherboard, the GEM stock settings do not match the effective range of auction, to investors to understand and master it also brings some difficulties, therefore, it is necessary Prior to amendment of the terms, the unity of all the stock in a continuous range of auction bids are valid during the recent sale price down 10%.
order to give additional shares listed on the first day of the full price of space, the original issuance of more rational price, additional shares are listed on the first day price drop in the price range up, there was no spike in the situation. Therefore, this
same time, the trading rules provides that: self-consultation Therefore, this .
focus on monitoring daily limit death squads
in the regulatory mechanism, the standardize the two sets of trigger values for the deviation from the cumulative index, and index adjusted to ± 12%. The second is to expand the scope of information disclosure, public disclosure of securities range from The third is a clear price limit-free intraday stock trading related to the temporary suspension of the indicators. Fourth, market regulation in recent years under the Exchange the actual situation and a clear focus to further improve the monitoring of the matter, adding the specific circumstances described in unusual transactions. Fifth, when the transaction occurs when abnormal situation, an increase of exchanges suspend access to the relevant treatment measures for settlement.
the same time, the exchange will be announced during its cumulative abnormal fluctuations in the transaction to buy, sell the largest amount of five members or trading securities business department names and their respective cumulative unit to buy, sell amount. S stocks not share reform this provision applies.
summary of recent market volatility in the new situation and new features, and market regulation facing new tasks and new requirements, based on this revision of the Securities and Exchange Surveillance issues were targeted to complement and improve , embodied in two aspects: First, expand and refine the scope of key control issues, the sixth chapter from The Last year-end balance sheet date, or related derivatives and other sensitive suppression of deliberate lift stock prices by making false declarations and other abnormal behavior of opening a clear focus on monitoring behavior.
this revision with the ; treatment measures, to appear unusual transactions provide the basis for emergency situations; the same time, for special events such as the Exchange may for the earthquake victims in silence the case of temporary suspension, the new Shenzhen Stock Exchange may be required to close the market by the SFC Terms and Conditions.
consider the future introduction of innovative financial products and trading mechanism of innovation, approval of the implementation of this can be adjusted by turning and rotating variety of securities transactions means
Amendment Background
Shenzhen Stock Exchange, responsible person, with the original rules, the new revised management, standardized system of rules was revised and improved. The official said, related to the vital interests of the investors, and business and product innovation and marketing, investor behavior and market structure are closely related.
the past few years, China's construction of a multi-level capital market has made significant progress, remarkable changes in the market, the number of shares in Shenzhen has more than 500 early in 2006 extended only to the current more than 1,200 pieces of We continue to improve the efficiency of market transactions, put forward new requirements; Second, margin trading, stock index futures and other new business startup, ETF product development, greatly improving the market trading mechanism, rich investment channels, but also greatly increased trading activities of diversity and complexity of the transactions to the market regulation and investor rights protection suggests a greater challenge. How to continue to adapt to market changes and needs, to effectively control trading risk and ensure the safe operation of the market, is facing new challenges exchanges.
the person in charge said that in future the Shenzhen Stock Exchange will be combing the trading system and the to meet market needs.
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