Analysis of OTC Market Abroad and its Enlightenment
Zhang Yuan-ping & Cai Shuang-li (Tianjin University of Finance and Economics, Tianjin 300222, China)
OTC market is the most essential part in the whole system of capital market. The features of OTC market are different respectively in the United States, Japan and Taiwan, China. The reality of China's domestic market should be considered for the establishment of China's own OTC market. The system of its market access should be set with lower entrance barriers and primary sponsor, the latter being put under strict supervision and control. In terms of model, the disperse OTC market can be combined with modern electronic automated quotation and market maker system.
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