彭英之:做市商机制革新,流动性如何重塑中国ETF市场生态
Xin Lang Cai Jing·2025-05-19 07:31

Core Viewpoint - The Shenzhen Stock Exchange 2025 Global Investor Conference highlighted the theme of "New Quality Productivity: Investment Opportunities in China - Open Innovation in the Shenzhen Market," showcasing the investment value of Chinese assets and the A-share market [1] Group 1: Market Dynamics - Market makers are specialized institutions that facilitate ETF trading, aiming to provide competitive prices for investors while serving issuers [1] - Over the past 20 years, the development of block trading has allowed institutional investors to utilize market makers for enhanced liquidity [1] Group 2: Skills and Knowledge Requirements - Market makers must continuously improve their skills and knowledge regarding ETF trading costs, cross-border regulations, tax arrangements, and the liquidity of underlying securities [1] - Understanding the entire lifecycle of ETF trading is essential for market makers to enhance product attractiveness and service quality [1] Group 3: Service Commitment - The goal of market makers is to become top-tier service providers, ensuring that investors can rely on them for efficient trade execution and pricing [1]