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Recently, the fourth generation trading supervision system of the Shanghai Stock Exchange (SSE) was formally launched. This is another important step for the SSE to fully implement the new development concept, promote the deep integration of technology and business and build a digital intelligent exchange.
In recent years, the continuous expansion of the securities market, the increasingly diversified trading model and the increasingly complex investor structure call for higher front-line supervisory capacity of stock exchanges. Meanwhile, the constant deepening digital transformation thinking and breakthroughs in digital technology provide extensive development ideas and more abundant tools for the transformation and upgrading of trading supervision information systems. The SSE started the construction of the 4th generation trading supervision system in 2016. The construction was in two phases. Phase I system launched at the end of 2019, which fully integrated business sub-systems and built up a "one-stop" trading supervision platform. Phase II system, which is completed and put into operation, uses more advanced real-time computing technology to finish the back-end computing and substitution and rebuild of storage architecture. Thus, its processing performance and comprehensive analysis capability have been fully upgraded.
Drawing on the advantages of previous generation systems, the 4th generation trading supervision system of SSE pursues independent and controllable technologies and information technology innovation to effectively underpin the ever-changing market supervision requirements in the future. The high performance system is highly reusable and technically extendable. Its real-time processing performance has been substantially improved compared with the existing system, with real-time processing capacity of transaction data expanding to over 500,000 transactions per second (the peak processing capacity of transaction data hit 154,000 transactions per second on the first day of its launch). Besides, as the overall message processing capacity reaches 10 million per second with a sharp decrease in computation latency, it could cope with the continuous growth of transaction volume and complex business needs. By closely integrating with the latest practice of regulation and enriching and improving the regulatory model functionally, the technology empowerment drives further improvement of supervisory capacity.
Going forward, the SSE will focus on the vision of "data makes regulation smarter", continue to strengthen data application capabilities, enhance the level of intelligence and technicalization of supervision and promote the deep integration of technology and business to power the stable and sound development of the capital market.
