The Shanghai Stock Exchange (SSE) has set a date for the launch of its new trading system, which has been developed following rapid growth of trading volumes in recent years.
The new platform will be implemented on 23 November, subject to approval by domestic regulator, the China Securities Regulatory Commission. According to the SSE, the upgrade will offer improved matching ability, safeness and reliability, and will enable investors to trade in an easier and more efficient way.
The new system will able to handle 80,000 orders per second and cut the average order delay by 30%. The new trading platform will also help the SSE lay the foundations for more international business by ensuring easier access to the technical interfaces of overseas institutions.
Over the last seven years, average daily volume traded on the SSE has rocketed from RMB 7.156 billion in 2002 to RMB 138.8 billion in 2009.