| 1. | Market - making system for exchange fund bills and notes
外汇基金票据及债券市场庄家制度 |
| 2. | Market - making system for specified instruments
指定工具的市场庄家制度 |
| 3. | Market - making system
市场作价制度 |
| 4. | 1 refining the market - making system for efbns by providing incentives to encourage mms to participate more actively in the trading of efbns
推出措施鼓励市场庄家更积极参与外汇基金票据及债券的买卖，藉此改善外汇基金票据及债券市场庄家制度。 |
| 5. | If speculations in the market have provided enough liquidity , this prerequisite would be ready for its fulfilling functions , thus , it is not urgent to introduce market - making system
如果一个市场的投机行为已经提供了足够高的流动性，其市场功能的充分发挥就具备了必要条件，因此也就没有引入做市商制度的迫切性。 |
| 6. | And it was not just a matter of bringing supply to the market to meet demand . we developed a benchmark yield curve , a market - making system and a sophisticated market infrastructure , including a paperless clearing and custodian system
此外，在这方面我们并不纯粹是满足了市场需求便了事，更逐渐发展出基准收益率曲线市场庄家制度及先进的市场基建，其中包括无纸化结算及托管系统。 |
| 7. | We engineered a market - making system to ensure liquidity in the secondary market and efficiency in price determination , leading to the establishment of a reliable benchmark yield curve for the whole spectrum of maturity in the paper from the very short end to ten - year
我们引入市场庄家制，以确保外汇基金票据及债券在二手市场有一定的流动性及有效厘定价格，藉此为最短期限以至10年期的债券建立了可靠的基准收益率曲线。 |
| 8. | When the investors hold a large amount of stock positions , sales mechanism will not impact arbitrage , and its impacts on the stock index futures transaction is very limited ; however , market - making system aims to promote the liquidity in the securities or future contracts
当投资者事先拥有大量股票头寸时，做空机制对套利交易没有影响，对股指期货交易的影响十分有限；而做市商制度的初衷一般是为了提高证券或期货合约的市场流动性。 |
