129756711598281250_849CPPCC Member he Qiang submitted the proposal for the establishment of China's stock markets this year restored t 0 transaction proposal, suggested that China's stock market recovered t 0 transaction, investors bought shares in the day, can be sold on the day. On March 7, he Qiang members at the Tencent microblogging exclusive right to publish the full text of the proposal. He Qiang members in proposals published Tencent micro Bo full text:T-0 at the beginning of the establishment has not traded in the stock market (that is, buying shares can be sold the day of trading on the day) in May 1992, after the withdrawal of price limits on the Shanghai Stock Exchange imposed a stock t-0 transaction, then t-1 November 1993 also canceled the Shenzhen stock exchange transactions (that is, bought shares cannot be sold on the day, only the secondWay as trading days before they sold), implemented a t 0 deals. However, due to stock market conditions are not ripe at that time, lack of experience in regulatory, and advanced for more serious depression and excessive speculation, so management decided that on January 1, 1995, t-0 beginning to stock transactions, t-1 to transactions. We use delay stockMeasures for the sale of time, reduce the efficiency of stock transactions, to a certain extent adapted to the State of the stock market at that time. However, with the development of China's stock market, constantly improving, and t-1 trading some of the drawbacks are increasingly exposed. First, the t-1 deal bad for stock market investors avoid investment risks in a timely manner. When investors bought stock in the stock market, same day if that isFound a mistake in judgment, share prices fell sharply, but investors had no way to sell stock on the same day, quickly stops, to avoid the expansion of risk, investors could only sell securities after the next day, it is possible to bring tremendous risks and losses to investors. Second, t-1 transaction greatly reduces the efficiency of the use of funds in the stock market, reducing market liquidity. T-1Easy to make after buying, must be the second day to sell artificially extend the time for the same stock trading process, trade efficiency significantly reduced, reduced market liquidity. Thirdly, t-1 transaction is not conducive to activity in the stock market. When in a State of continuous downturn of the stock market, t-1 transaction easy to lead to a sharp contraction of the trading volume in the stock, investor confidence.At the same time, also caused rapid loss of the securities brokerage commissions, leading to inefficiency. IV, t-1 shares the spot trading of stock index futures and t-0 transactions cannot be matched, it is difficult to play the role of futures hedging. Stock index futures buying on the day, you can sell the same day, however, the spot buying on the day of the stock cannot be sold on the day. Stocks overnight from stockWill not only cause tremendous risk, and also made it difficult for investors to use futures to avoid risks. V, t-1 deal has the potential to become the institutional means to manipulate the price benefit. Institutional investors trade stocks in the process can be used in the time of isolation, share price manipulation: first day way mislead investors pushed stock prices follow up to buy, and the next day, institutions may harvestTake the way to depress stock prices create a panic, forcing investors to cut meat sold, taking advantage of time differences of stock trading gain unfair advantage. We believe that from 1995 to the present
diablo 3 power leveling, great changes have taken place in China's stock market. In expanding the size of the stock market, the stock market also continue to improve the construction of basic system and level of supervision of the stock market rising, stock market investors do notBroken matured. Therefore we believe that launching t-0 stock trading conditions are ripe. Launch t-0 transaction, not only help solve the problems t-1 deals, and t 0 transaction to objectively exists: (1) t 0 trading day trading after investors buying, finding poor judgment, can be sold in a timely manner, avoiding risks and losses expanded.(2) t 0 transactions can make investors scarce funds are traded several times a day, a number of trading funds to enlarge, increasing transaction efficiency, increase stock market activity, increases the trading volume of the stock market and the liquidity of the market, enhance the market sentiment and investor confidence. (3) t 0 transactions will increase security company business brokerage commissionsIncome, improving the efficiency of securities companies. At the same time, a corresponding increase in government revenue from stamp duty. (4) the spot put t 0 trading in the stock market, in favour of stock index futures trading to achieve seamless
tera gold, so that stocks in stock market and the stock index futures market in close connection with, give better play to avoid the risk of stock index futures hedging. (5) inhibition by t-0 stock trading can to a large extentBehavior of bodies overnight manipulation. Because the service when you open shares on the day, investors even if you have high buying blindly, or sold stocks on the day, gains, avoiding losses. Introduced stock t-0 for successful transactions, we put forward the following proposals: first, we must seek unity, t-0 on equities trading to establish the correct understanding. The view was expressed that stock t-0 transactionsCan lead to excessive stock speculation, in fact, stock market manipulation and excessive speculation is because institutions of criminal causes. T-1 t-0 stock trading and transactions, is a stock market trading rules. Shares t 0 transaction itself will not lead to excessive speculation
diablo 3 gold, but is possible to a certain extent speculative excesses of the stock market. Because t 0 in stock market transactionsCase, if continuous rise of the share prices, many investors buy shares, there have been certain spreads, there will be a lot of selling, delayed stock market rose, while continuous falling stocks on the day if, investors will have bottom, into the stock, delaying stock market fell. Therefore, t 0 fair led investors to reverse actions, appear long and short crossChecks and balances and objectively to the market shares of "erase" function, avoid stock prices rise or fall of the unilateral. Second, the proposed management t 0 transaction for full in-depth research on equities, trading rules and supervision of the development of t-0 trade measures, preparations to launch stock t-0 deals. Third, China Securities Depository and Clearing Corporation and the securities exchanges, securitiesCoupon companies should provide the appropriate technical support and improve t-0 technical support and coordination of the work of the transaction. IV, the departments concerned should further study the regulation of t-0 after trading in the stock market, earnestly study under the new trading rules there will be a new problem, strictly prevent agencies from using t-0 rigging the market share price manipulation of the stock market Act. V, CanadaStrong investor risk education. There is no strong sense of time, risk of investors, t-0 is not suitable for stock market trading, risk education needed by investors, raising their awareness of risks, to avoid causing unnecessary losses. (Editors: Zhang Lei)
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