STAQ system itself belongs to non-profit membership organization, and the general meeting is the highest authority of the system, and the general meeting elects the Council. The daily affairs of STAQ system are presided over by the Executive Committee. At that time, the establishment of STAQ system promoted the development of the national securities market and facilitated the communication between securities institutions around the country. STAQ system generally adopts market maker system in trading mechanism and strict self-discipline management in market organization.
On July 1992 and 1, the circulation and transfer of legal person shares began trial operation in STAQ system, which created the circulation market of legal person shares. NET system was developed and designed by China Stock Exchange System Co., Ltd. (hereinafter referred to as CSI) and put into trial operation on April 28th. 1993. The center of the system is located in Beijing, and the computer network system connected by satellite data communication network covering more than 65,438+000 cities nationwide provides centralized trading, quotation, clearing, delivery, registration, custody and consultation services for the securities market. NET system consists of three subsystems: trading system, clearing and delivery system and securities business system.
At that time, only seven stocks, such as ZTE, Dongfang, Jianbei Group, Guangzhou Electric Power, Zhanjiang Supply and Marketing, Guangdong Guangjian and Nanhai Development, were traded in the online system, and the market scale was small. According to the relevant regulations, all domestic enterprises, institutions and social organizations with legal person status and valid certificates approved by the civil affairs department can participate in the trading of legal person shares through their legally disposable funds through network securities companies. As a result, China has formed a "two stock exchanges and two networks" securities trading market pattern, which is composed of Shanghai and Shenzhen stock exchanges, STAQ and Internet. However, due to various reasons, STAQ and online trading system are shrinking day by day, and the benefits of listed companies are not ideal.
19/999, these two systems stopped running.