The efficiency of securities market refers to the accuracy of securities liquidity and price, that is, the corresponding reaction speed of the securities market. The securities market has the function of capital allocation, in order to play this function well, we need to have good market efficiency. The current efficiency of the securities market has both external efficiency and internal efficiency, the intrinsic efficiency is the trading and operational efficiency of securities, that is to say, the time and price required to realize a securities transaction in the securities market, which reflects the service function and organizational function of the corresponding securities market to improve the speed and total amount of financial investment, can promote the rapid adjustment of the market structure of the securities market, effectively improve the structure of the securities market, can make the market operation efficiency effectively improve, can reflect the favorable information and adverse information in the market in a timely manner. And then it's reflected in the price of the security.
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