In chapter 1 we shall focus our study on the legal concept , characteristics and definition of the traditional securities so as to establish the contents of the securities law . then , we shall utilize the principles and theories of the traditional securities to enquire the possible challenges that may be brought by the on - line securities trading . these legal issues , will be examined 故在本论文的第一章绪论中先行阐述有关传统证券的法律概念、特征及定义，以期明确证券法律所需要规范的范围，并以传统证券在法律上的意义为理论基础，进行探讨及推论网络证券将可能带来的法律问题。
Its applicability to the on - line securities trading will be discussed in each chapter of this thesis . for the purpose of conducting an in depth research on the legal issues , the following issues will need to be discussed : - 1 . the issues of applicability and enforceability of electronic contract on the first issuance of securities on the internet and on - line securities trading ; 2 网络证券的法律问题是一个复合性及新的法律问题，但是这并不表示所有传统的证券法律就已经过时或必定不适用于网络证券，恰恰相反的是传统证券的法律并不会因此而全然被否定，反之它正是网络证券法律发展的根源，所以在本文各章中讨论研究有关问题时，亦同时会讨论现有传统证券的法律在网络证券法律中的适用问题。
Its development involves advanced knowledge , which includes new technology on the internet law and finance etc . besides , the on - line securities trading is still in the early stage of development having inadequate sources of reference , thus , this thesis may be considered to be one having significant degree of difficulty 此外，因为国外对网络证券仍然处于发展期，很多问题尚在探讨阶段，使可提供参考的成熟经验和研究结果不多，所以这论文在选题上具有较高的难度。
The said business mainly involves the issuance of securities on the internet , on - line information disclosure and propaganda , on - line securities trading , on - line securities clearing and settlement etc . all these on - line activities involve a lot of complicated legal issues , such as legal issues involving electronic contract , electronic payment , jurisdiction of electronic commerce , the security and privacy of electronic commerce 其中主要包括网络证券发行、网络信息披露及宣传、网络证券交易、网络结算和交收等等。以上各项所涉及的法律问题非常繁复，其中有很多地方是传统证券法律无法解决，如电子合同、电子支付、电子商务管辖权、电子商务的安全与隐私等等的法律问题，需要研究另立新的法律来规范其运作。
