国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Error costs Everbright millions

By Chen Jia | China Daily | Updated: 2013-08-31 08:14

According to the leader of the investigative department of the CSRC, the trading system, described as an innovative "high-frequency" trading program, one that makes a large number of trades in a very short time, had been used for fewer than 15 trading days. The brokerage only began designing it in June.

Everbright's strategic investment department had never been included in the company's internal risk control system. The flaws in the technology were not discovered because of insufficient testing, the CSRC said.

Huang Wei, the CSRC legal department's director-general and chief counsel, said on Friday that this is an "extreme"case scenario that had never before occurred in China's equity market, and it alerted the watchdog to the need for better laws and regulations.

"This year, one of our key tasks is to research and modify the Securities Law and prepare to create a Futures Law," Huang said.

To date, there has been no law or regulation specifically dealing with high-frequency trading.

Huang explained that Everbright was not found to have manipulated the market because there was no evidence that employees had acted with the intention of making a huge gain through the buy orders.

Song Yixin, a lawyer from Shanghai Xinwang Wenda Law Firm, suggested building a mechanism in stock exchanges that can immediately stop trading when abnormal signals come out.

He also called on Everbright to set up a special fund that can be used to compensate investors.

As earlier reported in the media, every shareholder who owns Everbright's stock could have lost 4,160 yuan on average on the first day of trading after the incident.

According to the CSRC, investors who suffered losses from the incident can sue for compensation.

"It's good news for the stock market, because the CSRC's quick action showed its determination to keep a tight lid on on illegal trading, which can better protect investors' interests," said Gui Haoming, chief analyst of the Shenyin Wanguo Securities Co.

Everbright Securities, a unit of State-owned China Everbright Group and the seventh-largest brokerage by assets, had net income of 810 million yuan in the first half, a 2.2 percent decrease from the same period of last year.

Previous 1 2 Next

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
 
蒲江县| 教育| 香格里拉县| 武汉市| 台州市| 沈阳市| 贵南县| 九龙县| 丽水市| 喀喇| 宜章县| 二连浩特市| 南投县| 昌都县| 长兴县| 志丹县| 兴国县| 泽库县| 平湖市| 黎平县| 靖宇县| 马龙县| 和林格尔县| 油尖旺区| 潞西市| 洪泽县| 镇雄县| 襄垣县| 来凤县| 宝鸡市| 锡林浩特市| 大竹县| 竹北市| 奈曼旗| 微山县| 百色市| 天峻县| 新民市| 福鼎市| 田东县| 札达县|