久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Policy Watch

Securities watchdog to boost regulations

By Chen Jia | China Daily | Updated: 2013-09-07 10:03

China's top securities regulator is determined to improve market mechanisms and fill the gaps in the regulation system dealing with irregular transactions, after the unprecedented market chaos following Everbright Securities trading error three weeks ago.

After it decided on a final punishment for the securities company, the China Securities Regulatory Commission is reconsidering current regulations, which need to be improved, the commission's spokesman said on Friday.

Securities watchdog to boost regulations

Everbright Securities Co Ltd was given its punishment last week-it was fined 523 million yuan and four of the brokerage's executive managers were banned from the industry.[Photo/China Daily] 

"We will launch official regulations soon to clarify the definition of 'irregular transaction', strengthen the management of the relevant transaction system, improve the pre-trading control system, establish a mechanism that can cancel mistaken deals, and launch an information disclosure system for irregular transactions," the spokesman said.

Analysts and market observers said that the current regulation system may not be able to prevent similar irregular transactions or ones caused by accidental technological flaws at a time when "creative" financial models - including high-frequency trading - are common practice among securities companies.

Three weeks ago, a bug in Everbright Securities' trading software generated 23.4 billion yuan ($3.79 million) worth of mistaken buy orders in the Shanghai Stock Exchange, and it finally completed transactions worth 7.27 billion yuan.

In response, the benchmark stock index jumped 5.96 percent within three minutes, which prompted many investors to buy stocks.

The securities company was given its punishment last week - it was fined 523 million yuan and four of the brokerage's executive managers were banned from the industry.

On Friday, Everbright Securities released a statement on its website saying that the trading error on Aug 16 caused 4.3 million yuan in losses.

"All the stock index futures that the brokerage bought that day to hedge risks have been closed by Friday," the company's statement said.

"After the incident, the company disposed of part of sellable financial assets that led to the big losses," the statement added.

Hu Yuyue, director of the Research Institution of Securities and Futures at the Beijing Technology and Business University, said that despite the brokerage's trading system flaws, the stock exchange's whole transaction mechanism and the CSRC's regulatory system also bear some responsibility for the ensuing market chaos.

"The current system allows securities companies to overdraw capital into investment accounts, which is the main reason why the huge orders were formed. That system should be stopped and we should build a risk isolation mechanism to prevent big mistakes," he said.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 久久久久久久久久久久久久久久久 | 午夜爽爽性刺激一区二区视频 | 日本成年人视频网站 | 韩国一级毛片在线观看 | 草草视频在线观看 | 日韩欧美国产高清在线观看 | 免费看黄色的网址 | 成人欧美一区二区三区 | 一级特黄一欧美俄罗斯毛片 | 男女性生活网站 | 亚洲成av人在线视 | 97sese论坛| 手机看片神马午夜片 | 国产日产欧美a级毛片 | 日韩欧美在线观看视频一区二区 | 免费a级毛片无码 | 国产91丝袜美腿在线观看 | 欧美精品高清在线观看 | 亚洲一级高清在线中文字幕 | 国产美女一区二区三区 | 国产亚洲一区二区在线观看 | 日韩中文字幕免费观看 | 一级片免费网址 | 国产一区二区三区久久 | 三级午夜三级三点在看 | 国产高清在线观看 | 手机国产精品一区二区 | 97影院理伦在线观看 | 特级毛片aaa免费版 特级毛片a级毛免费播放 | 久久在现 | 国产自产自拍 | 九九精品免费观看在线 | baoyu121永久免费网站 | 刺激一区仑乱 | 香蕉视频在线观看黄 | 久久精品99精品免费观看 | 国产成人综合亚洲亚洲欧美 | 美女黄频网站 | 欧美激情视频一区二区免费 | 欧美69色| 91精品国产一区二区三区左线 |