论文部分内容阅读
随着经济球化的不断发展,以及由此而产生的交易方式的电子化,证券交易所走向公司制等等多种因素的影响下,在21世纪初期,产生了一个新的浪潮——全球证券交易所并购整合。近年来的研究表明,将会出现横跨欧亚美三大洲的超巨型的证券交易所公司,而且此趋势越来越明显,与此同时,交易所跨境并购的经济和政策边界将会逐渐凸显。本文结合了中国的市场情况,提出了我国证券交易所在还没有能力参与国际整合的条件下,应迎合电子网络通讯技术的发展趋势,尝试采取新的市场业态,以应对全球证券交易所整合带来的挑战。
With the continuous development of economic globalization, and the resulting electronic trading of trading methods, stock exchange to corporate system and many other factors, in the early 21st century, has created a new wave - the world Stock Exchange mergers and acquisitions integration. Recent research shows that there will be super-giant stock exchange companies across three continents in Europe, America and the United States, and the trend is becoming more clear. At the same time, the economic and policy boundaries of cross-border mergers and acquisitions of exchanges will gradually be highlighted. Based on the market conditions in China, this paper proposes that under the condition that China’s stock exchanges are not yet capable of participating in international integration, we should cater to the development trend of electronic network communication technology and try to adopt a new market format to cope with the global stock exchange consolidation belt The challenge to come.