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As of the beginning of 2017, Shenzhen Stock Exchange's (SZSE) new generation trading system (i.e. the 5th generation trading system) has been commissioned for about eight months. On January 19, SZSE held a review meeting on the running of the system and commended the outstanding units and individuals contributing to the collaborative construction and rollout of the system. Attendees of the meeting totaled more than 200, including CSRC authority and department leaders, technical principals and representatives of member and fund companies and other relevant units, CSDC Shenzhen’s relevant principals, and representatives of SZSE’s construction project team.
With the joint efforts of multiple market participants, the new generation trading system independently researched and developed by SZSE had its trial run on May 9, 2016 and was officially put into use on June 6 of the year, having safely run for 173 trading days since then. During this period, it supported the collaborative switching online by batches and steps of transaction participants and underwent the test of an innovative business Shenzhen-Hong Kong Stock Exchange. Overall, the system has run stably with sound performance delivered in various performance indicators. The peak order rate exceeded 200,000 orders per second and the average time delay of order processing approximated 1.1 milliseconds, with the expected design target delivered and the safe running record of near 15 years kept.
SZSE started the adaptability improvement of the technical system for market participants in April 2014 and implemented Plan “Pioneer”. During the construction and rollout of the new generation trading system, member and fund companies and relevant units have paid great attention by meticulously organizing relevant work and making active input. According to SZSE’s overall work arrangement and requirements, they earnestly carried out all tasks related to the system, actively participated in all SZSE-organized tests, and completed as schedule the improvement and switching online of collaborative technologies. At the review meeting, SZSE expressed gratitude to the people participating, caring and supporting the construction and rollout of the system, awarded honor certificates to five developers of the market participant system and seven service providers of market information and commended 19 securities companies and seven fund companies participating in Plan “Pioneer”. Meanwhile, the contributors from the 12 member units and four fund companies were granted with “Award of Outstanding Contribution”.
Director Zhang Ye from CSRC Information Center made warm congratulations on and affirmed the construction and successful rollout of the system. He pointed out that the system is not only the embodiment of multiple technical breakthroughs, but also a rewarding trial in implementing industrial safe and controllable requirements, upholding the concept of independent research and development, practicing the open-source and opening-up strategy and achieving opening-up technical transformation, facilitating the mutual improvement and collaborative development of industrial technologies. It is hoped that based on the successful commissioning of the system, SZSE will continue to innovate in technologies to create first-class exchange IT and play a bigger role in industrial technical development, thus providing strong technical support to the stable development of capital market.
General Manager Wang Jianjun of SZSE said constructing and rolling out the new generation trading system is a milestone in the technical development history of Shenzhen securities market and could not have been possible just on SZSE’s own. It is the result of the joint efforts of CSRC authorities, CDSC, securities and fund companies, as well as other market participants! He told that SZSE has always valued highly the development and construction of technical systems and will pursue in the “scientific, safe, efficient and practical” directions by taking the core strategy of “technology lead, independence and controllability, resource integration and constant optimization”. Through realization of new business demands and constant improvement of technologies, SZSE is moving forward the development of the 5th generation trading system. Meanwhile, SZSE will forge leading platforms of application technologies for trading, supervision, information service and business operation by applying mobile internet, big data, artificial intelligence and other advanced technologies so as to enhance the informatization, automation, intelligentization and facilitation level of business handling and services for greatly advancing sci-tech and intelligent supervision. In addition, SZSE will build first-class infrastructure and is to deliver an exchange technology ecosphere featuring aggregation effect and win-win cooperation through Southern Data Center, financial cloud and financial data exchange platform. General Manager Wang wished that member and fund companies as well as relevant units will summarize the experience and spirit in building the fifth generation trading system and keep them up and will energetically continue to support and cooperate on the construction of SZSE technical systems to jointly contribute to building secure, efficient and advanced infrastructure of the securities market.
