Securities Times reporter Zhang Shuxian
On October 31, the first batch of market makers on the Science and Technology Innovation Board officially launched the market-making business of stocks on the Science and Technology Innovation Board, and it has been a full month so far.
As of November 30, in the past month (23 trading days), the total turnover of the first batch of 42 target stocks was 273.086 billion yuan, compared with the previous month (September 21 to October 30, also 23 trading days) 12% increase.
Among them, more than 60% of the target stock turnover exceeded the previous month; nearly 60% of the target stock turnover rate exceeded the previous month.
"The market-making trading strategy of the Science and Technology Innovation Board is running stably and has achieved the expected results." The head of the market-making department of the derivatives investment department of Guotai Junan Securities said in an interview with a reporter from the Securities Times yesterday.
Over 60% of the underlying stocks
Turnover over previous month
Since the launch of the market-making trading business on the Science and Technology Innovation Board, it has effectively improved the liquidity and turnover rate of the underlying stocks.
According to the reporter's statistics, among the first batch of 42 pilot sci-tech innovation board targets, more than 50% of the stocks in the past month have increased more than the previous month (or decreased less than the previous month), among which Jingchen shares, Mingzhi technology and Novozyme’s accumulative gains during the period were as high as 35.13%, 32.67% and 23.13%, respectively, and Shenlian Biotech, Botuo Biotech, Keqian Biotech, Opto, Zhuhai Guanyu and Gekewei also rose by more than 10%.
In terms of turnover, the total turnover of 42 target stocks was 273.086 billion yuan, an increase of 12% from the previous month. The highest, reaching 319.73%. The month-on-month increase in the turnover of Shenlian Biotech and Novizan was also as high as 233.84% and 216.54%, respectively. %.
In terms of turnover rate, in the past month, nearly 60% of the target stocks have had a turnover rate higher than that of the previous month, among which the turnover rate of Cape Cloud reached 125%, an increase of 262.26% from the previous month. The turnover rate of CRSC and other companies also increased by more than 100% compared with the previous month.
"After Cape Cloud became the first batch of market-making target companies on the Science and Technology Innovation Board, under the influence of the market maker mechanism, the liquidity and trading activity of the company's stocks have been improved, attracting long-term funds can better allocate the company's stocks, and the enterprise value It has been further excavated." Ma Wenjing, vice president and secretary of the board of directors of Cape Cloud, said in an interview with a reporter from the Securities Times.
The relevant person in charge of Shenlian Biology also said in an interview with reporters, "In the past month of participating in the market-making transaction business, the liquidity and trading activity of the company's stocks in the secondary market have increased significantly, and more professional investors and investors have participated. trade, and follow and research companies.”
Both Cape Cloud and Shenlian Biotech hope that the follow-up relevant policies can be continuously improved, so that the market-making business of the Science and Technology Innovation Board can develop on a large scale.
"After the launch of the market-making business on the Science and Technology Innovation Board, listed companies responded strongly, and many listed companies expressed their willingness to make markets." The head of the market-making department of the derivatives investment department of Guotai Junan Securities said in an interview with reporters, "Guotai Junan will continue to pay attention to market changes. , Actively communicate and coordinate with listed companies that are willing to make a market, and strive to provide market-making services for more stocks on the Science and Technology Innovation Board if conditions permit.”
Part of the pilot securities firms bid
Participation rate maintained above 95%
The reporter learned that in the past month, the first batch of 14 market makers on the Science and Technology Innovation Board have also actively participated in quotations.
The above-mentioned person in charge of the market making of the derivatives investment department of Guotai Junan Securities revealed to reporters that since the start of the market making business on the Science and Technology Innovation Board for one month, Guotai Junan has provided market making services for 5 underlying stocks, and the continuous bidding participation rate has always remained above 95%. Inject liquidity into the underlying stock.
The person in charge also said that the regulatory authorities released the market-making and securities lending business of the Science and Technology Innovation Board in a timely manner, which has become an important source of bottom positions for the market-making business. The risk of exposure brought about by the profit and loss of the bottom position is eliminated."
The person in charge of the market-making and trading department of Sinolink Securities also revealed to reporters that Sinolink Securities provides market-making business for four stocks on the Science and Technology Innovation Board, and the continuous bidding participation rate has also remained above 95%.
"Sinolink Securities uses a combination of market-making target fundamentals and market prices to price market-making targets. In terms of quotation strategy, it mainly adopts a more active market-making quotation strategy, aiming to provide liquidity for market-making stocks on the Science and Technology Innovation Board. ’” said the person in charge.