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the shanghai stock exchange will launch network-wide testing of platform-related businesses such as bidding and comprehensive business from 9:00 to 11:30 am on september 29. amid the hot market conditions and the anomalies that occurred in the shanghai stock exchange’s trading system on september 27, the test, which took place on a non-trading day, attracted the attention of many investors, and many investors were even eager to take part in the test.

as of now, all testing has ended. a reporter from the associated press learned that during this test, the shanghai stock exchange’s bidding trading system received a total of 270 million orders, which was twice the historical peak and three times the number declared last friday (september 27). the exchange test results showed that the overall system performance was normal and in line with expectations.

many investors were enthusiastic about participating in the test. some investors told reporters from the financial associated press that they had made an entrustment in the morning, but it soon showed that the entrustment failed. the plan of ordinary investors to participate in the test failed. in this test, brokers placed simulated orders on behalf of investors.

network transmission stress test chart

according to the requirements of the exchange notice, the participants of this simulated real-time stress test are mainly exchange technology companies, information companies, relevant core institutions and various market participants. this means that in addition to relevant personnel of the exchange and china securities regulatory commission, directly participating institutions such as securities firms and fund companies are the main test participants.

what was the main work carried out in the test on the morning of the 29th? how does it feel for participating institutions? many securities firms and public fund companies gave answers.

brokerage: preparations for testing began on friday night to expand capacity to cope with the surge in transactions

a reporter from the financial associated press learned that securities firms attach great importance to this work and participate in the test work in accordance with the shanghai stock exchange’s test notice and requirements, mainly involving the technical department and trading department. some it leaders reported that this test was not significantly different from usual, but the time was tight, so they were very busy. the test time was from 9:00 to 11:30 a.m., and the person in charge of the it department of the brokerage said that around 8 a.m. this morning, relevant colleagues had already entered working mode. however, overall, after the abnormal trading on september 27 (friday), the it departments of securities companies have begun to work overtime on a large scale.

not only the it department, but also brokerage firms have been busy with transaction clearing, test environment preparation, and transaction gateway changes since friday evening.

"this stress test uses actual production data and maintains a pressure no lower than production. some qualified brokers will print friday's data twice." the it director of a brokerage said that after the test is completed, the brokerage will do a good job in system and data recovery work, carefully check the system and data recovery is correct to ensure normal opening of trading next monday (september 30).

at the same time, most securities firms issued trading reminders. this test will not affect investors’ night market entrustment and business processing through the company’s trading software. investors’ night market entrustment and business handling operations through the company’s trading software are all true and effective. investors are requested to know.

based on the interviews, securities firms have recently taken the initiative to check the capacity redundancy of various trading networks, trading systems, and trading equipment, sort out capacity management risk points, take targeted measures, and improve technical security measures. as of now,some securities firms have set up information technology on-site teams to be responsible for technical emergency response, including incident hazard prevention and control, analysis and diagnosis, emergency decision-making and handling, recovery and switchback.

a-shares have experienced long-awaited market conditions, with trading volume increasing significantly. in the past week (september 23-september 27), the value of a-shares increased by 9.6 trillion yuan, and only from the 25th to the 27th, the consecutive trading volume exceeded one trillion yuan. the reporter learned recently that some securities firms have made changes to the network bandwidth and host resources for transactions, and some brokers have made changes to double the capacity. feedback from brokerage firms said that generally when the market rises, they will proactively expand capacity to cope with transaction peaks, and that twice the capacity expansion is sufficient.

paying attention to the smoothness of etf application and redemption, fund companies said that the overall test ran smoothly

fund companies also worked overtime after the market closed on september 27. also due to slow trading caused by the shanghai stock exchange system, many fund companies failed to conduct transactions as scheduled on friday. a person from a fund company pointed out that active management is relatively good. "if you can't make a transaction, don't buy it now, and wait until the system recovers before trading." however, for etfs, the trading volume of shanghai stock exchange and cross-market etfs has declined, and high premiums and inability to trade on the exchange have been reported. the impact of redemption is greater.

the fund companies participating in the test this time are mainly it departments and departmental trading departments. some companies have added registration, fund accounting and other departments. "the main testing department is still it. each group is forced to dispatch manpower to participate in the testing, and the trading department must also participate." a person from a fund company said,the application and redemption of etfs is the focus of the trading department.

it is reported that in accordance with the requirements of the exchange, this test will in principle use the actual order data and subscription data produced on september 27 as test data. according to the business rules and test plans of other platforms such as bidding and comprehensive industry, including stocks, funds, and block transactions, , etf subscription and redemption and other various order data are tested, mainly to verify the smooth operation of the bidding platform business processing when a large number of orders are concentrated during the continuous bidding period.

a reporter from the financial associated press learned from an it staff member of a company thattoday's test value peak value is relatively high, but the overall operation is smooth, and there is no "downtime" on september 27.

in addition, a relevant person from the fund company said that it is not uncommon for the exchange to notify the test, and it is usually done once or twice a month. the scope of the test includes system organizational structure adjustments, patches, or changes in transaction logic, etc. however, this sudden notification of the stress test is obviously related to the abnormal situation such as slow transactions in the system on september 27.

on september 27, a-shares opened higher and were actively traded. the trading volume increased to 700 billion shortly after the opening in the morning. around 10 a.m., many investors reported that brokerage transactions were experiencing delays in transactions. subsequently, various brokerages reported feedback one after another. the shanghai stock exchange announced at 11 a.m. that after the opening of the stock auction that day, transaction confirmation was abnormally slow, and the relevant reasons were being investigated. by around 11:17, trading on the shanghai stock exchange had gradually resumed.

a reporter from the financial associated press learned that some securities firms have informed their branches that "the company's technical monitoring found that there is currently a delay in order submission. various securities firms have given feedback, which is a common problem in the industry." however, in the afternoon, some transactions were still unavailable. in the evening of the same day, the shanghai stock exchange apologized for the abnormal situation. some investors reported that orders were still being traded late at night on the 27th. on september 29, the shanghai stock exchange announced the launch of network-wide testing.

"judging from the test process, when the market opens on september 30, there should be no slow trading, no transactions, and no order cancellation on friday." the above-mentioned person overall commented on the test.