Securities lending will significantly reduce the positions5 that securities market makers have to hold to ensure delivery, thus it can effectively mitigate the risks of such positions and enhance market-making capability.

• 债券借贷工具的引入，大大减少了做市商为保证债券交割而保持的债券头寸，从而有效地降低了头寸风险，提高了做市能力。