With the approval of the China Securities Regulatory Commission (CSRC), the first batch of STAR Market makers will officially launch the market-making trading business of stocks on the STAR Market on October 31, 2022 (Monday). The information of stocks for which the market makers will carry out market-making trading business will be posted on the "Information of STAR Market Makers" section of the Shanghai Stock Exchange (SSE)'s official website (http://www.sse.com.cn/disclosure/diclosure/StarMarketMaker/) for investors' inquiry.
As one of the supporting measures, on October 28, 2022, the SSE, China Securities Finance Corporation Limited and China Securities Depository and Clearing Corporation Limited jointly issued the Detailed Rules for Market Making and Securities Lending Business on the STAR Market, which took effect from the date of publication. The market making and securities lending business on the STAR Market aims to promote the market maker mechanism to fully leverage its market function, actively expand the securities resource of market making business, and ensure the smooth operation of the market-making trading business of stocks on the STAR Market.
The introduction of market maker mechanism on the STAR Market is an important measure to constantly improve the basic system of the capital market and further play the role of "pilot zone" of STAR Market reform. For the construction of the STAR Market, it helps improve the liquidity of stocks, release market vitality and enhance market resilience. For investors, it helps reduce transaction costs and improve market pricing efficiency. For deepening reform, it is another useful practice to comprehensively promote the high-quality development of the STAR Market and build a capital market with Chinese characteristics.
Next, under the unified guidance of the CSRC, the SSE will continue to provide sufficient safeguard measures for the market-making trading business of stocks on the STAR Market, adhere to the STAR Market's positioning of "hard and core technology", improve relevant supporting mechanisms, and better serve the sci-tech self-reliance and self-strengthening at higher levels.