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Tech tests complete for Shenzhen-Hong Kong Stock Connect

09 November 2016  |  3285 views  |  0 Source: Hong Kong Exchange and Clearing

Under the guidance and unified deployment, Shenzhen Stock Exchange (SZSE) , together with Hong Kong Exchanges and Clearing Limited, China Securities Depository Limited (CSDC) set on the preparation work of Shenzhen-Hong Kong Stock Connect at the beginning of 2015, launched overall business and technology preparation on May, 2016, and initiated officially the market participants technology preparation after the release of Joint Statement on 16 August, 2016, boosting various of technology preparation work comprehensively.

So far, six-party joint test, business simulation test, and three total network tests were organized, and drill was launched. The testing results showed that the technology operation was overall normal, and identical with the expectation, fully demonstrated that the Shenzhen-Hong Kong Stock Connect all market technology market, business procedures and Shanghai-Hong Kong Stock Connect could co-operate with one another. Based on this background, SZSE and CSDC Shenzhen Branch decided to set the technology system on line first, launching the Shenzhen-Hong Kong Stock Connect related technology system on line after the market closed on 11 November, 2016. Meanwhile, the participants of Shenzhen-Hong Kong Stock Connect business, the first batch that acquired the relevant permission, are required to complete the rollout of relevant technology system before 20 November, 2016.

From 12 September 2016 to 30 September 2016, stock exchanges and settlement companies in Shenzhen, Shanghai, and Hong Kong launched six-party joint test, with 120 market participants (including 95 securities companies, and 17 Fund companies) in Mainland China participated in southward testing. On the basis of two rounds of 66-trading-day simulation test (from 28 December, 2015 to 5 February 2016, from 18 April 2016 to 10 June 2016), a third round of business simulation test from 17 October 2016 to 9 November 2016 was organized, with 128 market participants (including 95 securities companies, and 25 Fund companies) in Mainland China participated in southward testing. The 15-trading-day simulation test will be completed on 9 November. As of 22 October, three rounds of total network test and drill were organized in consecutive weekends via trading production system, with 144 trading participants from Hong Kong market, 125 participants from mainland market (including 95 securities, 24 fund companies) participated in the test until 6 November.

Various of tests, including the southward and northward trading, clearing, non-trading, and corporate actions and all other business scenario of Shenzhen-Hong Kong Stock Connect, specially demonstrated the co-operation of Hong Kong Stocks Through Securities VCM and Hong Kong Stocks Through Securities Closing Bidding Trading Period (CAS). What is more, SZSE has completed stress test and high availability test of Shenzhen-Hong Kong Stock Connect trading system, verified that the performance and capacity of Shenzhen-Hong Kong Stock Connect business in SZSE New trading system are identical to expectation, and that it functioned normally in the scenario of failure of internet line, breakdown of the center of Hong Kong Stock Exchange and the switch of center of SZSE. All the testing result showed that relevant technology system of Shenzhen-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect operation procedure and Shanghai- Hong Kong Stock Connect could co-operate normally, and thus is eligible for setting on line.

After SZSE and CSDC Shenzhen Branch completed the technology setting on-line on 11 November, total network test, all market simulation SZSE and CSDC Shenzhen Branch Shenzhen-Hong Kong Stock Connect technology system seeting on-line in advance, operation of first trading day of Shenzhen Market before the initiate of business (not trading day and clearing day of Shenzhen-Hong Kong Stock Connect) will be organized on 12 November 2016, to confirm the proper operation of market participants and all parts of technology system, after that relevant system will be officially put into operation on 14 November. Meanwhile, the participants who first start the Hong Kong Stocks Through business under Shenzhen-Hong Kong Stock Connect will implement the relevant technology system setting on-line based on their technology setting-on-line plan or scheme, after the closing of market on 11 November or 18 November.

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