Shanghai Stock Exchange begins trading system trial run

Source: Shanghai Stock Exchange

The new trading system of the Shanghai Stock Exchange (SSE), designed to replace its predecessor, was officially launched and on trial run in the wee hours today, the first day for it to take on the task of market trading and operation.

The smooth launch of the new trading system, an overall facelift to the existing one by the bourse, will remarkably improve the system's matching efficiency and ability and strengthen its safeness and reliability. The new system, a booster of the bourse's core competitiveness, will ensure a technical support for the construction of the SSE into a world-class exchange and offer an ideal platform for the SSE's simulated transaction business, custody business, multi-variety-and-platform business in the future. Furthermore, the kickoff of the new system will facilitate a safer, easier, more fair and efficient investor trading participation.

It is learnt that the new system boasts a peak order processing rate of 80,000 orders per second, with an average order delay 30% shorter than the current one. The system's daily bilateral volume of not less than 120 million orders is equivalent to the daily volume of RMB1.2 trillion on a single market and quadruples the maximum peak value ever recorded in the bourse, with a capability of parallel expansion. In addition, the new system provides an easier access to the technical interfaces for all participants at home and aboard, thus laying a solid foundation for the SSE's exploration into international business.

The SSE carried out comprehensive measures to secure the success of the launch of the system. Firstly, it perfected its contingency plan regarding all possible risks during the system launch and perfected its specific measures for each risk and breakdown situation. Secondly, it established the joint contingency mechanism with China Securities Depository and Clearing Corporation Limited to deal with all kinds of risks involving the registration and settlement during the new system launch. Thirdly, it urged the market participants to form the working groups of trading contingency treatment during the trial run period. The working group shall work out the contingency plans and direct the contingency treatment. In addition, investors directly using the business systems of various securities companies will not be affected by the adoption of the new system.

Comments: (0)