当前我国证券市场实行的是以政府监管为主导,集中监管和市场自律相结合的监管制度。但政府监管和自律监管的功能都没有得到很好的发挥,同时政府监管的越位,错位和缺位现象十分明显,自律监管的作用几乎为零。本文从自律监管入手,分析了证券交易所监管在证券自律监管领域发挥重要作用的可能性,并指出目前存在的缺陷以及改进的方法。 At present, China’s securities market is implemented by a government-led supervision, centralized supervision and market self-regulation of the regulatory system. However, the functions of government supervision and self-regulation are not well demonstrated. At the same time, the overshooting, dislocation and absence of government regulation are obvious, and the role of self-regulation is almost zero. This article starts with the regulation of self-regulation, analyzes the possibility of the stock exchange supervision playing an important role in the field of securities self-regulation, and points out the existing defects and the improved methods.