证券交易

Trade cost theory, market validity theory and Commission theory are the economic foundation of Bill broker"s system. Two commission models under symmetry and asymmetry information between the investor and bill broker was structured in view of above, probing into two major interests subjects" distribution mode in interests, risk and encourage goal, and establishing the economies" foundation for the standardization development and perfection of bill broker"s system.

交易成本理论、市场有效性理论和委托—代理理论是证券经纪人制度的经济学基础，据此，笔者构建了信息对称和信息不对称两种情况下投资者和证券经纪人之间的委托—代理模型，探讨两大利益主体在利益、风险和激励上的目标分配模式，为证券经纪人制度的规范化发展和完善奠定了经济学基础。

Over-the-counter market; curb marketMarket for securities not listed in any of the exchanges (about 80 percent of total securities in the U.S.).

指对没有在任何证券交易所上市的证券（在美国它们占证券总额的80%）进行交易的市场。

From the frequent focus of the birth of trading funds dormant regional analysis, it seems that more capital funds are better at reading the policy fundamentals, Hangzhou, China Merchants Securities Sales Department湖墅South, Choi Dong-hui North Wenling Securities Sales Department and Bohai Securities in Shenzhen Fuk Road and other business department veteran capital appeared to promote the focus of cement and construction shares trading heavily quarterage area, and it is regrettable that a large number of troops quarterage seats Fund seems to wait and see more action.

似乎更多的资本金更善于阅读的政策基础，杭州，中国招商证券营业部湖墅南，崔东辉北温岭市证券营业部和渤海在深圳福道及其他业务部门资深资本证券似乎促进水泥和建筑股交易重驻屯领域的重点，这是令人遗憾的是，大批基金似乎观望驻屯席位更多的行动。

Investors should first opened in securities trading commissioned by the securities account, the opening of capital accounts at the same time, stock trading and clearing of funds through accounts, investors in the company through securities accounts formalities completed, the account registration cards and shareholders code , is involved in the transaction after the important documents.

投资者应当先在证券公司开立委托买卖的证券账户，同时开立资金账户，股票买卖和资金的结算都通过账户进行，投资者在通过证券公司完成开户手续后，取得账户登记卡和股东代码，是以后参与交易的重要凭证。

In China Taiwan market as represented by two-track system, the securities and financial companies are not living in a monopoly, which is characterized mainly: securities companies and securities and financial transactions in the credit business competition and cooperation.

按双轨制度，证券和金融企业为代表的不是生活在一个垄断的，它的主要特点是：证券公司，证券和信贷业务竞争与合作的金融交易。

We can found that China stock market is not completely weak effective by auto-correlation test, runs test, unit root test and variance ratio test. The TT-kyle model is derived from kyle model by adding weak effectiveness and irrational factor. This chapter describes impact of weak effectiveness and irrational factor on the trading volume and price. The fifth part analyses the relationship between the transaction duration and insider trading.

第四部分研究了市场有效性与内幕交易的关系，运用自相关性检验、游程检验、单位根检验、方差比检验等方法对我国证券市场的弱有效性进行验证，得出我国证券市场不完全弱有效的结论，在Kyle模型中加入弱有效性和非理性因素，提出了TT-kyle模型，分析弱有效性和非理性因素对内幕交易者的交易量和价格的影响，并提出了提高我国证券市场效率的相关对策建议。

Secondly, it takes some international typical mechanism of security market for example and deduces useful experience for Chinese market.

之后通过介绍几个国际典型证券市场交易机制的情况，来引出成熟证券市场机制对中国内地证券市场建设的启示。

According to an authoritative source, has been submitted to the Supreme People's Court "Securities Act" proposed draft judicial interpretation "on hearing the Securities infringement dispute case provides a number of", proposed the abolition of the Chief of the Securities infringement litigation Pre-procedure, and insider trading, market manipulation and other violations of securities are included in the scope of the lawsuit can be filed Dec.

据权威人士透露，已经提交给最高人民法院&证券法&提出了关于审理证券侵权纠纷案件的司法解释&，提供了&的号码，建议取消对证券侵权诉讼前行政，程序，内幕交易，操纵市场和其他违反证券是在诉讼的范围包括可申请（12月9日，根据&中国证券报&）。

Authoritative sources yesterday disclosed that have been submitted to the Supreme People's Court "Securities Act" proposed draft judicial interpretation "on hearing the Securities infringement dispute case provides a number of", proposed the abolition of securities infringement litigation front administrative procedures and insider trading , To manipulate the market and other securities violations are brought into the can.

证券取消原先民事诉讼据报道，最高法院的建议权威昨日透露，已经提交给最高人民法院&证券法源&提出的审理证券侵权纠纷案件的司法解释草案&提供了&的号码，提出了证券侵权诉讼前和行政程序取消内幕交易，操纵市场，和侵犯其他证券被带入可以。

An OTC equity security generally is any equity that is not listed or traded on NASDAQ or national securities exchange.

通常，在OTC市场上交易的是那些还没有在NASDAQ或其他全国性证券交易所进行交易的证券。

Do you know, i need you to come back

你知道吗，我需要你回来

Yang yinshu、Wang xiangsheng、Li decang,The first discovery of haemaphysalis conicinna.

1〕 杨银书，王祥生，李德昌。安徽省首次发现嗜群血蜱。