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Announcement of National Equities Exchange and Quotations Co., Ltd. to Amend Certain Clauses of the Provisions of the National Equities Exchange and Quotations on the Administration of the Market Making Business of Market Makers (for Trial Implementation) (2019) [Effective]
全国股转公司关于修改《全国中小企业股份转让系统做市商做市业务管理规定(试行)》部分条款的公告(2019) [现行有效]
【法宝引证码】

Announcement of National Equities Exchange and Quotations Co., Ltd. to Amend Certain Clauses of the Provisions of the National Equities Exchange and Quotations on the Administration of the Market Making Business of Market Makers (for Trial Implementation) 

全国股转公司关于修改《全国中小企业股份转让系统做市商做市业务管理规定(试行)》部分条款的公告

(Announcement No. 141 [2019] of the National Equities Exchange and Quotations) (股转系统公告[2019]141号)

National Equities Exchange and Quotations Co. Ltd. has amended certain clauses of the Provisions of the National Equities Exchange and Quotations on the Administration of the Market Making Business of Market Makers (for Trial Implementation), and the specific content is as follows: 全国中小企业股份转让系统有限责任公司对《全国中小企业股份转让系统做市商做市业务管理规定(试行)》部分条款进行了修改,具体内容如下:
I. One article is added as Article 14: “When a market maker obtains the market making treasury stock, it may reach an agreement with the shareholder of the quoted company to sell or resell the market making treasury stock under certain conditions.   一、新增一条作为第十四条:“做市商在取得做市库存股时,可与挂牌公司股东就一定条件下回售或转售做市库存股作出约定。
The ‘agreement on the sale of market making treasury stock' means the agreement reached by the market maker and the shareholder to sell the shares not exceeding the transferred amount to the shareholder under certain conditions when the market maker agrees to obtain shares of the shareholder of the quoted company under the agreement. The ‘agreement on the resale of the market making treasury stock' means the arrangement reached by the market maker and the shareholder of the quoted company to resell the shares not exceeding the number of shares subscribed for to the shareholder under certain conditions when the market maker subscribes for the shares of the quoted company by private placement.” “做市库存股回售约定,是指做市商在协议受让挂牌公司股东股份时,与该股东约定的在一定条件下将不超过受让数量的股份回售给该股东的协议安排;做市库存股转售约定,是指做市商在认购挂牌公司定向发行股份时,与挂牌公司股东约定的在一定条件下将不超过认购数量的股份转售给该股东的协议安排。”
II. One article is added as Article 15: “Where a market maker and the shareholder of a quoted company reach a sale or resale agreement, they shall comply with the following provisions:   二、新增一条作为第十五条:“做市商与挂牌公司股东作出回售或转售约定的,应当符合下列规定:
“(1) The number of shares sold or resold by the market maker as agreed in one time may not exceed the number of shares transferred or subscribed for this time. “(一)做市商单次约定的回售或转售数量不得超过本次受让或认购的股份数量;
“(2) The number of sold or resold treasury shares obtained before the market maker applies for the market making of the stock shall not exceed the number of initial treasury shares when the application is filed for the market making of the stock, except the part which exceeds the number of initial treasury shares led by the distribution of rights and interests of the quoted company. “(二)做市商申请为股票做市前获取的库存股,回售或转售数量不得超过申请为股票做市时的初始库存股数量,因挂牌公司权益分派导致的超出初始库存股数量的部分除外;
“(3) The market maker shall not fall under any circumstance which may affect the market making price, such as making a commitment on the declared or transaction price, quantity or amount after market making. “(三)做市商不得存在对做市后的申报或成交价格、数量、金额进行承诺等可能影响做市报价的情形。
“The market maker shall disclose the relevant agreement within two transfer days from the date of signing the sale or resale agreement, and disclose the relevant information within two transfer days from the date of the change or termination of the sale or resale arrangement.” “做市商应当自回售或转售协议签署日起2个转让日内披露相关协议,并于回售或转售安排变更或终止之日起2个转让日内披露相关情况。”
Item (6) of Article 16 is amended to read: “(6) Agreeing with the quoted company and shareholders with which it conducts market making on equity repurchase and cash compensation, among others, except the sale and resale agreements prescribed in Articles 14 and 15 of these Provisions.”   三、第十六条第(六)项修改为:“与所做市的挂牌公司及股东就股权回购、现金补偿等作出约定,本规定第十四条、第十五条规定的回售、转售约定除外;”
The amendments shall come into force on March 1, 2019. 修改内容自2019年3月1日起实施。
The content of the Provisions of the National Equities Exchange and Quotations on the Administration of the Market Making Business of Market Makers (for Trial Implementation) shall be amended correspondingly and re-issued in full text. 《全国中小企业股份转让系统做市商做市业务管理规定(试行)》内容作相应修改,全文重新发布。
Annex: Provisions of the National Equities Exchange and Quotations on the Administration of the Market Making Business of Market Makers (for Trial Implementation) 特此公告。
National Equities Exchange and Quotations Co. Ltd. 附件:《全国中小企业股份转让系统做市商做市业务管理规定(试行)》
January 25, 2019 全国股转公司
Annex: 2019年1月25日
Provisions of the National Equities Exchange and Quotations on the Administration of the Market Making Business of Market Makers (for Trial Implementation) 附件:
 全国中小企业股份转让系统做市商做市业务管理规定(试行)
Article 1 For the purposes of strengthening the supervision and administration of the market making business of market makers, regulating the acts of market makers and protecting the lawful rights and interests of investors, these Provisions are developed in accordance with the Business Rules of the National Equities Exchange and Quotations (for Trial Implementation) (hereinafter referred to as the “Business Rules”), the Detailed Rules for Stock Transfer through the National Equities Exchange and Quotations (hereinafter referred to as the “Detailed Rules for Transfer”), the Detailed Rules for the Administration of Lead Brokers of the National Equities Exchange and Quotations (for Trial Implementation) (hereinafter referred to as the “Detailed Rules for Administration”) and other relevant provisions.   第一条 为加强对做市商做市业务的监督管理,规范做市商行为,保护投资者合法权益,根据《全国中小企业股份转让系统业务规则(试行)》(以下简称《业务规则》)、《全国中小企业股份转让系统股票转让细则》(以下简称《转让细则》)、《全国中小企业股份转让系统主办券商管理细则(试行)》(以下简称《管理细则》)等相关规定,制定本规定。
Article 2 For the purposes of these Provisions, “market makers” means securities companies or other institutions that, with the approval of National Equities Exchange and Quotations Co., Ltd. (hereinafter referred to as the “NEEQ Company”), release buy and sell offers on the National Equities Exchange and Quotations (hereinafter referred to as the “NEEQ”) and, within the scope of quantity of quotations, perform the obligations of transactions with investors based on their quotations.   第二条 本规定所称做市商是指经全国中小企业股份转让系统有限责任公司(以下简称全国股转公司)同意,在全国中小企业股份转让系统(以下简称全国股转系统)发布买卖双向报价,并在其报价数量范围内按其报价履行与投资者成交义务的证券公司或其他机构。
Article 3 Market makers and their market making business specialists shall, in accordance with laws and regulations and the relevant provisions of the NEEQ, perform duties in a diligent manner, be honest and have good faith, and accept the self-regulatory management of the NEEQ Company.   第三条 做市商及其做市业务人员应当遵守法律法规和全国股转系统相关规定,勤勉尽责、诚实守信,接受全国股转公司的自律管理。
Article 4 Securities companies shall, before conducting the market making business through the NEEQ, apply to the NEEQ Company for recordation. The specific provisions on other institutions' implementation of the market making business through the NEEQ shall be otherwise developed by the NEEQ Company.   第四条 证券公司在全国股转系统开展做市业务前,应当向全国股转公司申请备案。其他机构在全国股转系统开展做市业务的具体规定,由全国股转公司另行制定。
Article 5 A securities company that applies for conducting the market making business through the NEEQ shall meet the following conditions:   第五条 证券公司申请在全国股转系统开展做市业务,应当具备下列条件:
(1) It is qualified for conducting the proprietary securities business. (一)具备证券自营业务资格;
(2) It has set up a special department for the market making business and assigned necessary personnel for the market making business. (二) 设立做市业务专门部门,配备开展做市业务必要人员;
(3) It has established rules for the management of the market making business. (三)建立做市业务管理制度;
(4) It has a special technical system for the market making business. (四)具备做市业务专用技术系统;
(5) It meets other conditions prescribed by the NEEQ Company. (五)全国股转公司规定的其他条件。
Article 6 A securities company that applies for the recordation of the implementation of the market making business through the NEEQ shall submit the following documents to the NEEQ Company:   第六条 证券公司在全国股转系统开展做市业务申请备案,应向全国股转公司提交下列文件:
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