The Shanghai Stock Exchange (SSE) launched a network-wide test on Sunday, a non-trading day, to brace for the possible pressure of continuous surge in stock-trading volume.
Over the past week, Chinese stocks rallied after a slew of policies introduced by the government to prop up the economy.
By the close of trading on Friday, September 27, the Shanghai Composite Index increased by 2.88 percent, ending at 3,087.53 points.
On Sunday, the SSE organized financial institutions to conduct tests on platforms for bidding, comprehensive business, and others to verify the accuracy and stability of the trading system.
According to the test plan of the SSE, transactions and clearing for one trading day were simulated. This aimed to verify that the bidding platform would run smoothly when a large number of orders were declared during a continuous bidding period.
The test subjects mainly involve financial institutions such as securities firms and public funds, and was not open to ordinary shareholders.
The entire test ran from 09:15 to 14:00. All the test data was based on that obtained after the market closed on Friday, involving stocks, funds, block transactions, ETF subscriptions, and redemptions to ensure the completion of the test.
Up to date, all tests of the SSE have ended, and the bidding trading system has received a total of 270 million orders, which is twice the historical peak and three times the number declared on Friday. The test results showed that the overall system performance was normal and in line with expectations.
Shanghai Stock Exchange conducts pressure test to ensure smooth trading
