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the shock wave of transaction "explosive orders" is coming!

on the afternoon and evening of september 27, many securities firms including sdic securities, gf securities, and guohai securities issued announcements stating that the next-day entrustment function would be temporarily closed from september 27, and the specific time for the next-day entrustment function to be opened will be notified separately.

industry insiders told china securities journal that there may be two reasons for brokers to suspend trading entrustment services:

first, it is related to the recent boom in the stock market and the sudden increase in transaction volume. in order to cope with the surge in transaction volume, technical personnel need to make emergency expansion changes to the network broadband and host resources of brokerage transactions;

second, there were trading abnormalities on the shanghai stock exchange yesterday, which affected customer transactions and may require longer liquidation times for securities firms.

several securities firms issued announcements

after the market closed on september 27, many brokerages, including leading brokerages, issued notices suspending overnight entrustment services.

sdic securities announced that the company will temporarily close the next-day entrustment function from 16:30 on september 27, 2024. the specific time for the next-day entrustment function to be opened will be notified separately.

in response, sdic securities said that due to extended liquidation time, system maintenance, system testing and other reasons, the company will temporarily close the "next day entrustment service". investors can pay attention to the company’s mobile securities app, official website, anyi financial terminal, and anyri version online trading software business announcements.

gf securities also announced that the company will conduct trading system maintenance from september 27, 2024 (friday) to september 28 (saturday) after the system liquidation is completed. during the maintenance period, the yitaojin app, online trading terminal, and 95575 telephone channel will suspend transaction entrustment services. if you log in to the system, an error message may be reported, or the securities quotes, market value, and asset display may be inaccurate. normal services are expected to resume in the early morning of september 29, 2024 (sunday). the specific time is subject to actual conditions.

however, gf securities had previously issued announcements on suspension of trading system maintenance on august 23 and september 6.

guohai securities also issued an announcement on the evening of september 27, saying that according to the company’s arrangements, overnight entrustment would be suspended on september 27, 2024.

founder securities also issued a notice to investors stating that in order to provide better services, founder securities will conduct trading system maintenance on september 28, 2024 (this saturday), and night market commissions will be suspended this friday (september 27) serve. during system maintenance, transaction-related services will be suspended.

northeast securities issued a notice on september 26 regarding the suspension of night market commission services from september 27 to 29.

according to reports, for overnight entrustments from securities firms, after investors place entrusted trading instructions, these entrustments will be temporarily stored in the securities company's system and will be uniformly reported to the exchange host during the trading time of the second trading day.

the varieties that support night market entrustment include shanghai and shenzhen stock exchange stocks (ordinary trading, credit trading), bonds, funds, science and technology innovation boards, stock transfers, etc., and price limit buying and selling are allowed.

it is worth mentioning that because the night market commission only temporarily stores the transaction order on the broker's server, there are many restrictions and it cannot be guaranteed that the commissioned transaction will be valid and completed. in addition, if there are force majeure situations such as suspension of trading of the entrusted securities, exceeding the price range limit, system failure, etc., the night market order may be invalidated by the trading system or unable to be submitted to the exchange.

“in response to the sharp increase in transaction volume, securities firms need to urgently make capacity expansion changes during non-trading hours.” an engineer from a brokerage firm in south china told a reporter from brokerage china, “today (saturday), the company’s it staff will return to the company to make capacity expansion changes, including network changes. broadband, host resources, and cloud hosts used on market sites are also planned to be expanded.”

at the same time, due to abnormal trading on the shanghai stock exchange yesterday, many brokerage customers' transactions were affected. "after yesterday's close, some trading problems on the shanghai stock exchange have not been completely resolved, and it may take longer to clear." the above-mentioned brokerage person said.

market conditions are hotter than expected

on september 27, the a-share market was booming, exceeding outside expectations.

as of the close on september 27, the shanghai stock exchange index rose 2.89% to approach 3,100 points, the shenzhen stock exchange component index rose 6.71%, and the chinext index rose 10%. the turnover of shanghai and shenzhen stock markets exceeded 1.4 trillion yuan, nearly 300 billion yuan higher than the previous day, and exceeded one trillion yuan for three consecutive trading days.

in terms of industry sectors, energy metals, batteries, software development, photovoltaic equipment, securities, medical services, computer equipment, semiconductors, brewing industry, and biological products sectors were among the top gainers, while only the banking sector fell.

in terms of individual stocks, the number of rising stocks exceeded 5,200, exceeding the daily limit of 100 stocks.

"in may and june, the average daily turnover of our sales department was about 100 million (yuan). yesterday (september 26) it reached 400 to 500 million yuan, and today (september 27) it is expected to be even higher." a beijing family the person in charge of a sales department of a securities company told china securities journal, "many old customers who had been silent before have also started trading, and some customers have directly added 100 million yuan in positions. inquiries about financial services and financial services have also increased."

under the hot market, there may even be "blocked orders". on september 27, some investors reported that the shanghai stock exchange trading system experienced delays. some brokers reported to investors that trading was active after the market opened that day, and some orders on the shanghai stock exchange took a long time to process. some brokers reported that the shanghai stock exchange's trading system was experiencing "order blocking" and that the brokerage system was unable to trade or cancel orders, and the exchange's backend had no time to process them.

on september 27, the shanghai stock exchange issued an announcement regarding abnormal stock bidding transactions on the exchange. the announcement stated that after the opening of the market on september 27, the shanghai stock exchange's stock bidding transactions experienced an abnormal situation of slow transaction confirmation, which caused the transaction to be affected. after disposal, stock bidding transactions gradually resumed at 11:13. the shanghai stock exchange deeply apologizes for the occurrence of this abnormal situation.