China securities regulator approves first batch of market makers for STAR market

(This Sep. 17 story has been refiled to indicate that market makers had been permitted for STAR Market in headline)

SHANGHAI (Reuters) – (This Sep. 17 story has been refiled to indicate that market makers had been permitted for STAR Market in headline)

China’s securities regulator permitted the primary batch of market makers on the tech-focused STAR market, in an effort to enhance liquidity and deepen reform.

Huatai Securities, Guosen Securities, Orient Securities and China Securities are among the many checklist of eight brokers, in response to statements from the China Securities Regulatory Fee (CSRC).

The CSRC mentioned in January it will pilot market-making on the Shanghai Nasdaq-style market, wherein brokerages actively quotes in a safety, offering liquidity and depth to markets, whereas benefiting from the distinction within the bid-ask unfold.

(Reporting by Shanghai Newsroom; Further reporting by Martin Quin Pollard; Modifying by Lincoln Feast.)