http://knows.jongo.com/res/article/11859
Shenzhen Stock Exchange Commitment to Tier Market
Shenzhen Stock Exchange Commitment to Tier Market
1. Help main board companies to grow bigger and stronger through listings of holding groups;
2. Strengthen SMEs cultivation and SME Board innovation;
3. Optimize stock transfer system to open up an effective trading platform for non-listed public companies and de-listed companies;
4. Take a pro-active approach on launching the new market in the spirit of newly implemented Securities Law and Company Law;
5. Further new product development in equities and derivatives.
Small and Medium Enterprises Board
The Small and Medium Enterprises Board is designed as an exclusive market segment for s-mall- and mid-caps with pronounced core business, high growth potential and intensive technological contents. The SME Board explores with innovative and customized solutions for small- and medium-sized enterprises in trading, disclosure and stock watch.
SME Board Innovation
To provide investors with assurance in terms of regulation and transparency, the SME Board takes tailor-made initiatives to ensure their protection:
1. Open call auction in pre-opening session is introduced to ward against market manipulation in price formation by allowing greater transparency;
2. Closing prices are determined through last-three-minute call auction;
3. Deviation in volatility, turnover and closing prices is brought into stock watch to curb market abuse;
4. Made obligatory are 1) regular audit raised fund usage compared to publicized investment targets; 2) express corporate results; 3) annual public meeting on corporate financial health and business development; and 4) intermediary credit supervision system.
1. Help main board companies to grow bigger and stronger through listings of holding groups;
2. Strengthen SMEs cultivation and SME Board innovation;
3. Optimize stock transfer system to open up an effective trading platform for non-listed public companies and de-listed companies;
4. Take a pro-active approach on launching the new market in the spirit of newly implemented Securities Law and Company Law;
5. Further new product development in equities and derivatives.
Small and Medium Enterprises Board
The Small and Medium Enterprises Board is designed as an exclusive market segment for s-mall- and mid-caps with pronounced core business, high growth potential and intensive technological contents. The SME Board explores with innovative and customized solutions for small- and medium-sized enterprises in trading, disclosure and stock watch.
SME Board Innovation
To provide investors with assurance in terms of regulation and transparency, the SME Board takes tailor-made initiatives to ensure their protection:
1. Open call auction in pre-opening session is introduced to ward against market manipulation in price formation by allowing greater transparency;
2. Closing prices are determined through last-three-minute call auction;
3. Deviation in volatility, turnover and closing prices is brought into stock watch to curb market abuse;
4. Made obligatory are 1) regular audit raised fund usage compared to publicized investment targets; 2) express corporate results; 3) annual public meeting on corporate financial health and business development; and 4) intermediary credit supervision system.