National Equities Exchange and Quotations, China's third national equity exchange, announced on Wednesday the launch of its first two equity indexes.

The NEEQ Component Index (with a code of 89901) is composed of the sample shares of 332 small and medium-sized enterprises listed on the board, including equities through agreement transfer or market making. The index will be released after the market closes.

The NEEQ Market Making Component Index (with a code of 89902) is made up of 105 listed SMEs with market making activities. The index was real-time during the whole trading day.

A market maker at NEEQ is mainly a securities company that quotes both a buy and a sell price in the equity in inventory, hoping to make a profit on the bid-offer spread, or turn. It is a way to make the NEEQ market more active.

The two indexes will be adjusted every quarter.

There were 2,113 enterprises listed at National Equities Exchange and Quotations as of March 7 and their total market value totaled 790 billion yuan ($127 billion).

"With the rapid development of NEEQ, developing an equity index has formed a good market basis, and the participants also have stronger demand for an equity index," said Sui Qiang, deputy general manager of the NEEQ.