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from brokerage china

the securities times·brokerage china reporter exclusively learned that the shanghai stock exchange is scheduled to organize business tests related to platforms such as bidding and comprehensive industry on september 29, 2024 (sunday). all market participants are invited to participate in the test, which mainly verifies the accuracy of the business and technical adjustments of the relevant technology platform.

on september 27, the shanghai stock exchange issued an announcement on its official website stating that after the opening of the day, the stock bidding transactions of the shanghai stock exchange 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.

shanghai stock exchange is about to launch network-wide testing

according to the notice from the shanghai stock exchange, the test content is to test and simulate trading and clearing on one trading day. the test mainly verifies that the bidding platform business processing runs smoothly when a large number of orders are declared in a continuous bidding period.

the bidding platform business verification test scenario is a scenario verification of centralized declaration of a large number of orders during the continuous bidding period.

specifically, this includes preparing multiple batches of pre-bid bidding platform orders in advance with reference to the actual order scale produced on september 27 (friday), caching them on the counter system, and making cyclic batch declarations. orders placed in advance need to be sent to the bidding platform for declaration at three time points: 9:30, 10:00, and 10:35. batch declarations at other points in time can be chosen by the user based on the size of the pre-embedded order and the order declaration status. centralized reporting in batches. observe the order declaration status, receipt and processing of execution reports to see if they meet expectations.

the comprehensive industry platform business test requires participating market participants to complete the following scenario tests during each trading session of the comprehensive industry platform through the counter system and ezstep, and the results are in line with expectations.

according to the above notice, the etf application and redemption business has verified that various etf application and redemption businesses are expected to be normal. the etf products that can be applied for and redeemed are subject to the etf announcement document of the day. other business verifications, including convertible bond-to-equity swap, exchangeable bond-to-equity swap, bond resale, warehousing and warehousing, bulk transactions (including after-hours fixed price), quotation repurchase, stock pledged repurchase and other business verification, are expected to be normal as well as market verification, expectations are normal.

on september 27, the trading volume of a-shares surged. after the market opened that day, the trading software of many brokerage firms malfunctioned. after 10:10 that day, the shanghai composite index even drew a horizontal straight line.

in the evening of the same day, the shanghai stock exchange announced on its official website that 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.

some brokers analyzed that stock orders are basically executed immediately during the day, but the feedback to investors' accounts is delayed. different brokerage systems have different response speeds, which is also the reason why investors receive confirmation information in different order. under normal circumstances, after an investor places an order, the trading system will quickly confirm the transaction and provide immediate feedback. however, on september 27, there was a delay in confirming the transaction of some stocks on the shanghai stock exchange. however, the delay will not have an impact on the opening index on the second trading day.

several brokerages announced the suspension of next-day orders

after september 27, many securities firms such as sdic securities, guohai securities, founder securities, and northeast securities announced the suspension of next-day orders to maintain the trading system.

oriental fortune securities, which has many online users, also announced that the trading system will be upgraded and maintained, and the account can only be queried. oriental fortune securities stated that in order to provide better services to customers, the oriental fortune securities trading system will be upgraded and maintained from 19:00 on september 27 (friday) to 24:00 on september 29 (sunday). the system will resume normal operation on september 29 (sunday). during the maintenance period, customers can only query their accounts.

on september 28, sdic securities announced that in order to provide investors with better services, it has resumed next-day entrustment services.

according to analysis by industry insiders, there may be two reasons why brokerages have suspended the above-mentioned transaction entrustment services: first, it is related to the recent hot stock market and the sudden increase in transaction volume. in order to cope with the surge in transaction volume, technical personnel need to conduct network broadband and host resources for brokerage transactions. make emergency expansion changes; secondly, there were trading abnormalities on the shanghai stock exchange on friday, customer transactions were affected, and securities firms may need longer clearing time.

"the purpose of a trading system is to maintain a force for a thousand days, and to use it for a day, it must be able to withstand the situation at critical moments. friday's trading volume has put a lot of pressure on the entire industry, and many brokerages also feel the need to conduct a physical examination of their systems." a senior brokerage executive told brokerage china reporters.

in fact, some brokerages have made a lot of preparations in advance for the market outbreak. the relevant person in charge of donghai securities told china securities journal that in recent years, the information technology team of donghai securities has stepped up infrastructure construction and is fully prepared for the arrival of the trading peak. the first is to upgrade the trading system from centralized to distributed. the current maximum capacity is more than 10 times that of the old system, and supports rapid expansion; the second is to push all market prices to the cloud, increasing the concurrent capacity to cope with the bull market; the third is to realize system operation and maintenance monitoring has been systematic and digitalized, and capacity can be configured simultaneously according to daily traffic to cope with the impact of high traffic in the bull market.

"huaxing securities attaches great importance to system stability. with the support of the information technology management department, it conducts emergency drills regularly, and continues to expand servers and bandwidth as the size of its customers grows. the company has always had expectations for this round of market conditions, so we have made preparations for customer acceptance and service. the market sentiment has improved recently, and although there are small queues, it is generally stable and there have been no customer complaints," said the relevant person in charge of huaxing securities.