Trading on legal person shares are prohibited on the Shanghai and Shenzhen
stock exchanges. To satisfy the requirements of legal person investors, the
government authorized the connection of the State Trading Automatic Quoting
(STAQ) system in Beijing in 1992 and the National Electronic Trading (NET)
system in Beijing in 1993. Where the STAQ system operated in a dealer market
environment with the participation of a market-making dealer in every trade, the
NET system operates in an auction market environment without a specialist or
market-makers system ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month, and much more.