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after abnormal stock bidding transactions occurred, the shanghai stock exchange launched business testing. on september 29, a beijing business daily reporter learned from the industry that all securities firms received notices that the shanghai stock exchange is scheduled to organize bidding, comprehensive industry and other platform-related business tests on september 29, mainly to verify the accuracy of relevant technology platform businesses and technical adjustments. . it is reported that some securities firms and their technical departments are currently working overtime to conduct business testing. the specific test content and projects include bidding transactions, transaction and order cancellation operations, etc. some brokers said that they have submitted test reports and the test results can cope with similar events on september 27. emergencies. industry insiders said that this relevant test does not involve systemic adjustments, so it will have little impact on the market. it is conducive to the preparation of emergency response plans in advance and enhances the ability of the trading system to withstand risks.

shanghai stock exchange starts simulated trading

the shanghai stock exchange launched business testing. on september 29, a beijing business daily reporter learned from the industry that a number of securities firms have been informed of the news. the shanghai stock exchange is scheduled to organize bidding, comprehensive industry and other platform-related business tests on september 29, mainly to verify the relevant technical platform business and technical adjustments. accuracy.

according to the test plan, the test simulates trading and clearing for one trading day. the main contents of the test include "verification that the bidding platform business process runs smoothly when a large number of orders are declared in a continuous bidding period" and "verification of other scenarios (subject to on-site notification)", etc. .

according to the "plan on conducting business testing on bidding, comprehensive industry and other platforms on september 29, 2024", participating units include the shanghai stock exchange technology company, the shanghai stock exchange information company, relevant core institutions and various market participants.

some brokerage employees said that their brokerage has started business testing, and testing and improvement should be the basic process before the opening of the next trading day.

another brokerage insider told a beijing business daily reporter that on september 29, the company had begun testing and debugging, and the technical department was also working overtime. the specific test content and projects included bidding transactions, transactions, and order cancellation operations. currently, a completed test report has been submitted, and the test results can cope with similar emergencies on september 27. in addition, some brokerages said they were unable to disclose the testing status for the time being.

previously, some brokerages had issued announcements on september 28 and announced that the app trading system would suspend various services during the test period. for example, on the home page of the changjiang securities app, the company reminds that due to participating in the exchange test, the company's trading system will suspend the night market commission service from 18:00 on september 28, and 8:00 to 18:00 on september 29 will be the test time. the trading system various services will be suspended. during this period, the funds, shares and other data queried by logging into the company's online trading, telephone commission, mobile securities and other systems are test data, and transactions or transfer operations will be invalid. the system is expected to resume related services after 18:00 on september 29. the specific time is subject to actual conditions.

conducive to enhancing the ability to resist risks

a reporter from beijing business daily noticed that some securities firms had organized relevant tests in advance before the shanghai stock exchange started testing. on september 27, donghai securities issued an announcement to remind investors that the company would organize a production environment test from 9:00 to 12:00 on september 28. during the test period, online transaction entrustment, telephone entrustment, mobile entrustment, online mall and other systems are in testing state. the account situation and status display are not actual conditions, and all types of transaction entrustment, transfer entrustment and operations are invalid.

wang jianhui, a senior researcher in industrial brokerage, pointed out that usually when the market is expected to fluctuate greatly, the exchange may take action to test the system in advance. this test may be related to the abnormal situation of slow transaction confirmation in the shanghai stock exchange's stock bidding transactions. specifically, this round of testing is mainly based on the requirements of the trading system to test conventional indicators such as the transaction instruction execution process, execution time, and accuracy. in addition, testing under extreme circumstances may also be added to cope with sudden changes in transaction volume. amplify the impact on the trading system.

as mentioned above, after the market opened on september 27, some investors reported that after the market opened, the shanghai stock exchange stock trading system could neither sell nor cancel orders. at that time, the shanghai stock exchange issued an announcement stating that it had paid attention to the relevant situation as soon as possible and was investigating the relevant reasons. in the evening of the same day, the shanghai stock exchange issued another document stating that after handling, stock bidding transactions would gradually resume at 11:13. the shanghai stock exchange deeply apologizes for the occurrence of this abnormal situation.

financial commentator guo shiliang said that the shanghai stock exchange plans to start business tests and improve technology to ensure the normal operation of the subsequent trading system. it is expected that after testing, the stability of the exchange system will be improved, data transmission and work efficiency will be improved, and the risk of system downtime will be reduced.

wang jianhui also pointed out that abnormal stock bidding transactions on exchanges may convey wrong information to the market, and related abnormalities may also cause a lot of speculation in the market, or cause the market to make some wrong judgments. for the market, abnormal stock bidding transactions on exchanges may be a technical problem, but if related issues are not handled properly, it may become a problem of market confidence. therefore, the security, reliability, and timeliness of the exchange system are very critical. this test does not involve systemic adjustments, so it will have little impact on the market. it is conducive to the preparation of emergency response plans in advance and enhances the ability of the trading system to withstand risks.

beijing business daily reporter hao yan