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to face the bull market, the shanghai stock exchange has taken new measures.

on the evening of october 6, the shanghai stock exchange issued an announcement that in order to further improve the efficiency of designated transaction business, the time for accepting designated transaction declaration instructions will be from 9:15 to 9:25, 9:30 to 11:30, and 13:00 on each trading day. to 15:00 will be adjusted to 9:15 to 11:30 and 13:00 to 15:00 on each trading day.

in this regard, a brokerage person explained to the securities times·brokerage china reporter that the key word is "designated transaction", which does not involve changes in the trading system and has no impact on customer transactions. the main purpose of this time adjustment is to facilitate the declaration of designated transactions for new account openings and improve efficiency. this is also a response to the surge in account openings during the holidays and can be regarded as a system optimization of the shanghai stock exchange. the new measures do not cancel call auctions and do not affect the opening time.

call auction has not been canceled

the shanghai stock exchange stated in the announcement that in order to further improve the efficiency of designated trading business, in accordance with the provisions of the "shanghai stock exchange trading rules", "shanghai stock exchange designated trading implementation rules" and other business rules, it has decided to adjust the time for accepting designated trading declaration instructions. .

the time for the shanghai stock exchange to accept designated transaction declaration instructions is adjusted from 9:15 to 9:25, 9:30 to 11:30, and 13:00 to 15:00 on each trading day to 9:15 to 11:30 on each trading day. , 13:00 to 15:00. this notice will be effective from october 8, 2024.

in this regard, a brokerage person explained to the securities times·brokerage china reporter that the key word is "designated transaction", which does not involve changes in the trading system and has no impact on customer transactions. the main purpose of this adjustment to the designated trading hours is to facilitate the reporting of designated transactions for new account openings and improve efficiency. this is also a response to the surge in account openings during the holidays and can be regarded as a system optimization of the shanghai stock exchange.

"in the past, 9:15 to 9:25 was the call auction time, and the next 5 minutes were equivalent to a 'trading pause.' during this period, the exchange did not accept new declarations, and the opening brokerage submitted them to the exchange at 9:30. the exchange processes all declarations in an instant. these declarations include both designated transaction declarations for new account openings and daily trading commission declarations. "a senior brokerage person explained to the securities times·brokerage china reporter that within these 5 minutes, designated transaction declarations are made. there is no longer a suspension, only the transaction order declaration is suspended. the purpose is to alleviate the "order blocking" behavior caused by the increase in designated transaction volume and avoid the congestion phenomenon before the holiday again.

the broker further explained that the so-called designated trading means that investors who engage in securities transactions on the shanghai stock exchange should clearly designate a securities business department in advance as their agency for entrustment and transaction clearing, and designate their securities accounts with that agency. a system in which transactions can only be carried out after the institution’s seat number.

"designated transaction" has no special meaning, does not affect investors' normal transactions, and has no further policy modifications. it is just a conceptual expression in the business process. time adjustment is to facilitate new designated transactions for account opening and improve efficiency.

"the call auction has not been cancelled. the orders for the call auction from 9:15 to 9:25 have not been canceled and will continue as usual. it does not affect the opening time. the market that should have opened at 9:30 will still open at 9:30. there is no impact on the trading time. impact." the aforementioned brokerage person explained to the securities times·brokerage china reporter.

financial industry braces for bull market

during the national day holiday, chinese assets other than a-shares rose rapidly, giving domestic investors more expectations for the post-holiday market.

on october 6, reporters from china securities journal learned that some securities companies have issued internal notices to return to work in advance, requiring all employees in the wealth management and brokerage business lines, including branches, to end their vacation and officially return to work on october 6 in advance. we resumed work and held a business supervision meeting for the wealth business line, aiming to seize the opportunities of the recent hot market conditions.

it is worth mentioning that china clearing also opened the unified account platform and identity information verification system and opened various business permissions in advance on october 6 to cope with the massive number of account opening applications and business permission applications during the holiday period, which was previously notified until october review will resume on the 7th.

in order to seize the opportunity of this rising stock market, some securities companies have adopted the slogan "no closing on national day" and provide account opening applications 24/7. customer service staff and investment education and promotion staff are all on duty, and their shifts have been scheduled during the 7-day national day holiday. conduct account opening review. in addition, wanlian securities’ branches across the country are on-site to receive customer consultation services, outdoor exhibitions, online strategy exchange meetings, and offline investment education activities to seize the rising market.

brokerage china reporters noticed that during the national day holiday, in addition to intensive account opening, password retrieval, and opening of two-financing business permissions, many brokerages were already reviewing a-share and h-share market prices during the second half of the holiday. use live streaming and other means for intensive promotion.

brokerage china reporters learned that although some brokerages have not officially resumed work, due to the hot market, they have launched special national day plans near the end of the holiday. for example, from october 5th to 7th, citic securities research institute launched a series of special live broadcast planning "view the world·see china", with more than ten chief analysts interpreting policies and investment hot spots. changjiang securities wealth management center launched the "national day wealth talk" plan on october 7 to interpret and forecast the a-share market and hong kong stock market, as well as explain investment opportunities.

futures investors have also received "acceleration". futures companies have received notice from the china futures market monitoring center co., ltd. that investors can open futures accounts on october 7. this is the first time in history that futures investors can open accounts during the national day holiday.