129777461964218750_766| Wenhui business to business, as participants of the potential benefits and possible losses, may have to see their lives hard and hard. Such words to describe the dilemma facing the NASDAQ's recent, somewhat cynical, but it is fact. Accompanied by a series of constantly setting off Chinese concept stocks of storm in the United States, represented by NASDAQ United States exchange pursuitListing number of practices are being widely questioned. Why NASDAQ? "Gatekeepers" fail? "While before the company went public in many institutions, such as investment banks, accounting firms, lawyers involved, but the Exchange was the last of the door, still plays a very important role, which is why once the problems of listed companies in the United States, are oftenDubbed ' NASDAQ bubble ' labels such as reason. "For the recent difficulties experienced by the company in China
tera power leveling, people familiar with the case evaluation. The past few months, Wall Street suddenly set off a wave of air. One of many notable companies are mostly concentrated on the NASDAQ stock market. Large numbers in United States listed Chinese stocks is left empty, most of the company's stock declineAt more than 30%. Betting against the logic of Chinese concept stocks, from Chinese listed company "financial fraud" accusations, these responsibilities include making false accounts, fictitious profits, hiding the associated transactions, and so on, China's enterprises "congenitally deficient", also makes the accused was serving with. NASDAQ-listed Chinese companies, even if there are good ideas, could not escape a robbery. Last year, thePotatoes successfully completed an initial public offering (IPO), but publicly traded shares have fallen on the first day of the unit. And potatoes as well as of several companies, such as Kay bio and geo group is the match postponed the IPO process. This is not finished, since March of last year, China stocks, wind suddenly blew, suspension or were ordered to withdraw. Shenzhou mines, China high speed channel and the coast of Tektronix 19 ChineseFirst, "a cold chill". Among them, China's resumption of the high speed channel application is not, and clean up the single market to powder. Grand technology, Eric Tektronix also returned to fan the single market. Even worse is, in the middle of last year, United States broker-interactive brokers "or information disclosure problems of false enterprise in China" announced against customer margin buying for more than 130 Chinese listedShares in the company. Market cannot help but ask: these companies although the difference with, had existed before but were listed, then as a "gatekeeper" NASDAQ is doing what? As we all know, most of the revenue comes from services of Exchange, which means that more listed companies, the NASDAQ Exchange, the higher the yield obtained. Allegedly, on NASDAQMunicipal service costs a year from the original $ 100,000/year of up to $ 150,000/year, while its biggest rival is also on the New York Stock Exchange/year soared from $ 150,000 to $ 250,000/year. Of course, compared with the New York Stock Exchange, NASDAQ has reduced annual fees for all outstanding shares, and United States depository receipt (ADR) the highest annual feeLess than $ 30,000. Under such a situation, to get a better income meant that the number of all. In fact, for the Chinese company on NASDAQ-listed issues, they also have been an absolute increase in the number of considered whether the Chinese team qualifying standard. It is said that NASDAQ China Team at the end of fear is the annual statistical data. BecauseThis means both the past year commitments, to complete the task is completed, get bonuses, also means that next year the pressure even more. Chinese company "financial fraud" to detonate the gunpowder barrels of explosives, and calm down and think about it, deep knowledge of the financial rules of the United States accounting firms and investment banks, rating agencies, shouldn't was blamed for having let the financial vulnerability？ Hard to make China's first generation of "Nasdaq also has a big problem is the problem. "One person familiar with the NASDAQ admits. In fact, in the area of investment, who were all, or networking is everything. Therefore, possess good customer resources, an extensive network of investment professionals is always the best person for the major investment banks, Fund, but the law in Exchange does not applyAt least on the NASDAQ, somewhat embarrassed. People familiar with the matter said, NASDAQ China team composition is not the strongest of the moment, however, experienced a number of personnel changes, NASDAQ injury does not. "Is more deadly, because the exchange of business restrictions, limited income. Exchange on investment banks, lawyers who do not work, are not willing to come. DomesticPersonnel quality are generally inadequate and even do good work at home, may not be able to, and United States markets, such as docking, language, limited business capacity, NASDAQ executive team mobility in China is not very large, because to go up and down is not easy. "Nasdaq executive level personnel in China haven't changed much, but the first generation seat is" you singI took "in recent years, personnel changes several times, and each time you replace the first generation behind are disputed, superposition of mystery, so that people on the Nasdaq" stability "have to heart health puzzle. From the beginning of Harry Huang, later Lawrence pan, and Xu Guangxun low-key secret, to today's first female Chief Representative, NASDAQ TV series can be used to describe the change of personnel. Although eachWorks with its own proud, but seems to be broke up. In fact, this personnel change constant pressure has also appeared on the back of NASDAQ, Act of pursuing quantity it is helpless. But now, more and more Chinese companies are "smart" to select a listed site, rather than these so-called fascination with New York, London's financial centre. Toronto, GermanyBecomes the new selection. More and more Chinese companies like Deutsche Börse, part of the reason is the low cost, high efficiency to reach global investors; the other was because Deutsche Börse covers the entire securities market value chain business model, from the listing
tera gold, the Securities and derivatives trading, clearing, settlement and custody, to the high liquidity of the electronic trading system in action, and the marketData and index into requirements. Of course, for Exchange, and how to bring big payoffs for the company is the company the focus of attention. Currently, there are 3 Chinese enterprises to join the DAX index of the international community, which Asian bamboo AG has entered the 100 most liquid Germany DAX international 100 comprising domestic and international stock index. NETGerman environmental technology in wireless technologies AG and AG has been included in the DAX index of international Mid100, this index contains the DAX international 100 index of 100 of the most liquid after Germany domestic and international companies. And, for example, DB according to listed companies in different stages of development and size of enterprises, including advanced market,Market, as listed on the primary market and access to markets
tera gold, and so the four sections. If the "outside" of competition can also be ignored, competition will directly determine the NASDAQ in New York with the fate of China's first generation. Long time, NYSE often to the enterprise of a lofty impression of China, especially for those with high-growth SMEs, even more so. NYSE high growth marketLaunch brings new opportunities to the Chinese small and medium enterprises listed abroad. Strategy of these enterprises can take two steps, is listed on the NYSE, high-growth market, the company rapidly in a short period, reached after the New York Stock Exchange main Board listing requirements, then go to the New York Stock Exchange main Board. NYSE high-growth markets is a fully electronic stock exchange for growthListed companies to provide an open and fair trading platform in the market, temporarily unable to meet listing standards of the NYSE Board provide a new set of choices. Listed IPO of the company both directly in the market, also from the NASDAQ, United States stock exchanges, and other companies that have Exchange go Board. And, this condition of listed companies can also becomeGo smoothly when cooked to the Board of the New York stock exchange market. Allegedly, cares and the NYSE Nasdaq bosses competition, as in the United States market, many companies tend to be listed until the last minute before deciding whether NASDAQ or NYSE. Therefore, China Team for the NASDAQ, scramble for resources listed at all costs is the only option. (Responsibility seriesReview: Yin Liang)
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