日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

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: 国产日韩欧美在线观看 | 九九精品视频在线 | 亚洲成av| 欧美亚一区二区三区 | 日本欧美一级 | 久久超碰在线 | 99国产精品一区二区 | 日韩在线免费视频 | 日本a级c片免费看三区 | 国产h在线| 天天精品视频 | 国产精品成人国产乱一区 | 国产一区二区三区视频 | 午夜激情网站 | 中文在线日韩 | 成人免费毛片观看 | 国产午夜精品久久久久久久久 | 国产日韩在线看 | 自拍偷拍中文字幕 | 免费中文字幕视频 | 国产一级片在线播放 | 日韩和欧美的一区二区 | 日本黄色免费网址 | 国产一级片免费在线观看 | 中出中文字幕 | 日韩网站视频 | 国产精品久久久精品四季影院 | 亚洲网在线观看 | 日韩在线观看视频网站 | 91免费看黄| 精品九九九 | 黄色草逼视频 | 91一区二区| 手机免费av | 日本国产在线观看 | 国产 日韩 欧美 综合 | 天堂综合 | 亚洲精品亚洲 | 欧美激情影音先锋 | 国产区在线看 | 青青草精品在线 |