China publishes rules for market making on Shanghai's STAR market
FILE PHOTO: A sign for STAR Market, China's new Nasdaq-style tech board, is seen before the listing ceremony of the first batch of companies at Shanghai Stock Exchange (SSE) in Shanghai, China July 22, 2019. REUTERS/Stringer
SHANGHAI : China's securities regulator on Friday published rules to pilot market making on Shanghai's tech-focused STAR Market as part of efforts to improve liquidity.
Brokerages applying for such business must have at least 10 billion yuan ($1.47 billion) in net capital, strict internal controls, and technology systems that meet regulators' requirements, the China Securities Regulatory Commission (CSRC) said on its website.
($1 = 6.7845 Chinese yuan renminbi)
Source: Reuters
