美国债券电子交易平台面面观  

The Overview of the US Electronic Bond Trading Platform

作　　者：庞业军[1] 潘佳琪 

机构地区：[1]中国银行间市场交易商协会交易规范部

出　　处：《金融市场研究》2018年第5期95-105,共11页Financial Market Research

摘　　要：电子交易平台是美国债券市场的主要交易场所,通过向债券交易双方提供价格撮合和交易执行等服务,提高债券交易流动性。经过近30年发展,美国债券电子交易平台已经形成垄断与竞争并存的多层次市场格局,专业分工明确,业务灵活多样,并兼顾经营性与市场服务性,对我国银行间债券市场的发展具有一定借鉴意义。Electronic trading platform is the main trading place of the US bond market. It improves the liquidity of bond trading by providing bond trading partners with price matching and transaction execution services. After nearly 30 years of development, the US bond electronic trading platform has formed a multi-level market structure where both monopoly and competition coexist. The division of labor is clear, the business is flexible and diversified. It also takes into account operational and market service, and it can be reference for the development of the interbank bond market in China.

关 键 词：美国债券市场 电子交易平台 多平台竞争 

分 类 号：F831.51[经济管理—金融学]