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A few days ago, Wang Fenghai, vice president of DCE and president of Dalian Futures Information Technology Co., Ltd. gave an interview by the reporters from “Futures Daily”, concerning the information technology development and innovation in services made by exchanges, with the contents as the follows:
In 2012, the acceleration in the reform and innovation of China’s futures market is reflected in the start of the asset management by futures companies, the permission of fund Separated Managed Account (SMA) to participate in commodity futures and the promotion of exchanges’ preparations for options. In such circumstances, the demands of the market for information technology become more diverse and specialized. In order to understand the detailed conditions of IT development and innovation in services made by exchanges, a few days ago the reporters of “Futures Daily” interviewed Wang Fenghai, vice president of DCE and president of Dalian Futures Information Technology Co., Ltd.
Futures Daily: Financial innovation drives investors to make diverse and multi-level demands for information technology. How does DCE respond to the challenges of IT development?
Wang Fenghai: Diverse businesses in the futures market constitutes both an opportunity and a challenge for the IT development of DCE, and the development of information technology will promote the optimization of trading mode. On the one hand, DCE makes active efforts to guarantee the safe and smooth operation of information systems; on the other hand, it commits itself to improving market operation efficiency through technological innovation. Based on the safe and smooth operation of systems, DCE makes the high-performance and low-latency of trading system as the focus of IT innovation. DCE vigorously advocates and encourages technological innovation, and organizes advantageous resources to do researches into core technologies of trading system. It has developed communication platform with high-performance and low-latency, high-performance memory database, automated test platform (ATF) and other series of core technology products, which will greatly improve the service capability of the system of DCE and that of its members. Meanwhile, DCE also actively expands its cooperation with foreigners in technology and introduces advanced foreign technology to promote the rapid development of information technology in domestic futures market.
Futures Daily: In China’s securities and futures market, exchanges lead the development of industrial technology, and in fact play the role of core technology exporter for brokers, institutional investors and individual professional investors. Can you talk something about the differences between the information technological services provided by domestic and foreign futures exchanges?
Wang Fenghai: In terms of technological services, there is a certain gap between domestic futures market and mature markets. At present, the key task of domestic exchanges concerning information technology is to strengthen the research, development and accumulation of core technologies, so as to strive to improve the competitiveness of core technologies and enhance the capability and level of core technologies exporting to markets. Currently, foreign exchanges have generally exported their core technologies, including trading, liquidation, monitoring, risk control and trade access, quotations as well as basic technology controls. NYSE-Euronext and NASDAQ-OMX, for example, provide other exchanges with their own core systems, such as core transaction system with high throughput and low latency, Data Fabric and other basic technology components, the world's most advanced SMARTS surveillance system and FTEN risk management system.
Futures Daily: What has DCE done with respect to information technological service in markets?
Wang Fenghai: DCE has an information technology research & development team composed of nearly 300 people, and the core technology group of Dalian Futures Information Technology Co., Ltd. has a certain scale and continues to grow. Relying on its professional R&D team, the foreign technological services of DCE has developed rapidly. After nearly two years of efforts, Dalian Futures Information Technology Co., Ltd. has launched several categories of core products and services, including trading software products, business management products, futures information products, a few IT trust services and industry software product testing services.
Currently, Futures Information is actively developing a series of technology products that are suitable for both futures companies and clients, such as the second seat trading system and strategy trading platform targeted at professional investors. It is also actively integrating its unique software and hardware resources and providing its members and clients with the diversified, personalized, custom-made technical services. In the future, Futures Information will further integrate its resources, improve existing product service system, expand technological service scope, strengthen cooperation with overseas partners, strive to increase the company’s core value and provide futures market with more and better services.
Now the demands of market for IT system are increasingly specialized and personalized, and the trading system generally used in the past can not meet the needs of the market for development. Futures Information is actively developing and researching into IT products suitable for investors, such as the programmed trading system and high-frequency trading system required by the individual professional investors and asset management systems needed by institutional investors, to meet the demands of investors, while optimizing and upgrading the exchange’s information system and building a new generation of information system at the same time.
Futures Daily: The Eighth China (Shenzhen) International Futures Conference is going to be held, and Futures Information has participated in the preparations for “IT Technology Development and Programmed Trading Forum” as a co-sponsor of the Conference. What objective does your company expect to achieve?
Wang Fenghai: At present, the products and services provided by Futures Information has gradually had a clear position in the market. After meeting the current needs of the futures market, our company will unify product and service system, adjust marketing strategy and actively cooperate and communicate with each party within the industry. I believe preparing this forum marks that Futures Information begins to actively participate in market and provide technological services for the market. We welcome everyone to make in-depth communication with us at the Conference and wish this international futures conference a great success.
