The conception for the institution of a civil liability system against the manipulation of the securities market is : acts of manipulating the securities market belongs in the category of infringement of rights ; the principle for the liability system is the presumption of fault ; the third party suffering losses as a result of the manipulation can raise claims of compensation ; the cause - effect relationship between manipulation of the market and losses are to be established through two links ; and there must be a reasonable method for calculating the compensation for losses 摘要我國證券市場操縱行為民事責(zé)任制度建構(gòu)設(shè)想是:市場操縱行為民事責(zé)任屬于侵權(quán)責(zé)任;其歸責(zé)原則是過錯責(zé)任原則,實行過錯推定;在人為操縱市場時,因買入或賣出該種有價證券而受損的善意第三人可提起賠償之訴;市場操縱與損害之間的因果關(guān)系是通過兩個關(guān)系鏈建立的;損失賠償額須有合理計算方法。