Another futures company "eat red card"!First melting the Futures CTP system abnormally affects customer transactions, and not reported to the alarm instructions in time

China Times (chinatimes.net.cn) reporter Ye Qing Beijing report

Since the beginning of this year, the regulatory level has repeatedly issued punishments against futures companies. In January, the website of the China Securities Regulatory Commission announced the decision of the Beijing Regulatory Bureau on the decision to order regulatory measures to be ordered to correct regulatory measures on Huaxi Futures Co.. Haitong resources and a number of individuals were punished; after entering August, a business department of Guangfa Futures was first ordered by the Beijing Securities Regulatory Bureau for two violations of recording and account management.

Recently, the Chongqing Securities Regulatory Bureau announced another administrative regulatory measure to decide, and CSSC was issued a warning letter for relevant violations.

Industry insiders said that with the formal implementation of the futures law, regulatory supervision of futures companies in compliance management has also become stricter.

CTP trading system is abnormally reported in time

On August 8th, the "Decision on Adopting Alerting Letter Measures on CICC Power Investment Sunday Futures Co., Ltd." released by the Chongqing Supervision Bureau of the China Securities Regulatory Commission shows that after investigation, on June 22, 2022, Xian Rong Futures Co., Ltd. (Here referred to as "first -fry futures", 870115) CTP's secondary trading system Yunda value -for -value personnel use the command language that is incompatible with the system format to query on the server, resulting in abnormal systems in the system.

Although it was investigated and disposal, the failure was not effectively resolved. After the opening of the afternoon (from 13:32 to 15:00), the Dalian Commodity Exchange's entrusted report form was abnormal, and some customer transactions were affected. After the aforementioned incident, the futures fixed futures did not report to the regulatory report in a timely manner. It was not until 15:30 that the Chongqing Securities Regulatory Bureau reported to the Chongqing Securities Regulatory Bureau. There was a late report.

The Chongqing Securities Regulatory Bureau determined that the above -mentioned behavior of the first fusion of futures does not meet the "Measures for the Report and Investigation and Handling of the Securities and Futures Industry Network Security Incident" (announcement of the CSRC [2021] No. 12). The "Measures for the Supervision and Management of Futures Company" (Order 155 of the CSRC) and Article 95 of the CSRC, and Article 32, (No. 82 of the Securities and Futures Industry Information Security Security Guarantee Management Measures ".

"According to Article 109 of the" Administrative Measures for Futures Company "and Article 50 of the" Administrative Measures for the Securities Futures Industry Information Security Security Security Security ", our bureau decides to take administrative supervision measures with a warning letter to your company. Your company In -depth investigation of the cause of the accident, formulate effective and effective rectification measures, and conduct internal accountability of relevant personnel in accordance with regulations. At the same time, your company should carefully learn from the lessons of accidents, deeply reflect, strengthen the awareness of compliance, improve the internal process, strengthen personnel training, and strengthen personnel training. Take effective means to improve the level of network security, "said the Chongqing Securities Regulatory Bureau.

It is understood that the CTP referred to in the above -mentioned alarm letter is the abbreviation of the composition transport platform. It is a set of futures brokerage business management systems developed for futures companies. It consists of three major systems: transaction, risk control and settlement. Due to its high availability, strong confidentiality, and fast transaction speed, the CTP trading system can connect to four domestic futures exchanges at the same time, support the trading settlement business of domestic commodity futures and stock index futures. Margin monitoring documents are currently mainstream domestic futures trading systems.

Regarding the abnormal problem of the trading system, Manager Li, an executive of a futures company in Shenzhen, told the reporter of the Huaxia Times that according to relevant regulations, after a network security incident in the core institutions and business institutions, it should be reported in time, accurate, and complete reports. Reporting, missed reports, lies, or concealed reports. Core agencies and operating agencies shall conduct internal investigations, accountability, and rectification measures for information security incidents, and cooperate with the China Securities Regulatory Commission and its dispatch agencies to investigate and deal with the incident. Software and hardware products or technical service providers related to core agencies and business institutions should cooperate with relevant investigation.

In actual operation, the futures company can be resolved in time for the general information system failure, and it is usually not reported to the regulatory authorities or the exchange. It is understood that generally speaking, system failures include system failures caused by the operation of the network, software, hardware, and related staff.

However, Manager Li said that the time to merge the futures CTP's secondary problem was from 13:32 to 15:00, which means that the problem from opening from the afternoon to closing the market has not been thoroughly resolved, causing customers' complaints. Futures company CTP is generally only provided to programmatic transactions and large institutional customers, so it only affects the transactions of some customers.

"This also shows that the futures company should strengthen the management of information technology personnel, strengthen the learning and strengthen the process, do a good job of emergency plans, and take serious emergency drills. At the same time, we should strengthen communication with the regulatory authorities, report the situation in a timely manner, and effectively maintain investors Legal rights and interests. "Manager Li said.

In September last year, the "Administrative Measures for the Futures Company (Trial)" was promulgated. The transition period was one year, and the futures company was required to regulate the behavior of intermediaries and clean up the intermediary who did not meet the requirements. The transition period of September this year was over. Keep inspections on the standards of futures companies. The "People's Republic of China Futures and Derivation Laws" was officially implemented on August 1, 2022. The futures company has followed up the relevant provisions of the "Futures and Derivation Laws of the People's Republic of China" in accordance with laws and regulations. Losses in 2021 470.439 million yuan

The official website shows that the Futures Futures was established in 1995 and registered Chongqing with a registered capital of 1.01 billion yuan. There are many branches or business departments in Beijing, Nanjing, Hangzhou, Shenzhen, Guangzhou, Chongqing and other places, and the business covers the country.

Since 2020, affected by the epidemic of new crown pneumonia, the fluctuations in the commodity market have been abnormal, and the demand for hedging in physical enterprises has continued to rise. In this context, from January to December 2020, 149 futures companies across the country did not have a net profit of 8.603 billion yuan, an increase of 42.20%year -on -year. Affected by the booster industry, it first merged the futures to achieve operating income of 7.166 billion yuan in 2020, a year -on -year increase of 31.67%; the net profit attributable to the company's shareholders was 70.497 million yuan, an increase of 10.23%year -on -year.

However, in 2021, the performance of the firing futures reversed. In 2021, the futures revenue realized operating income of 2.89 billion yuan, a decrease of 59.67%year -on -year; net loss attributable to the owner of the parent company was 47.049 million yuan. The net profit of 70.4972 million yuan in the same period last year was from profit to loss from the same period last year. During the reporting period, the net cash flow generated by operating activities was 1,095,083,063.21 yuan, and as of the end of 2021, the net assets attributable to the company's shareholders were 1,477,926,423.68 yuan.

In response to the sharp decline in operating income, the reporter of the Huaxia Times sent an interview letter to inquire about the relevant matters, but as of press time, the futures futures did not reply to this.

The reporter found in the annual report of Xian Rong Futures 2021 that the company's operating income decreased by 4,275,693,400 yuan compared with the previous period, a decrease of 59.67%. Among them, other business revenue decreased by 427,87,500 yuan compared with the previous period, a decrease of 61.20%; mainly due to the adjustment of business models during the reporting period of the firing fan company, and the basis of trading revenue decreased.

However, the decline in net profit did not give an explanation in the annual report.

According to the 2021 annual report, in the composition of revenue, according to the business category, the operating fee income was RMB 562,200, accounting for 1.95%of the operating income. Last year's futures brokerage business revenue was 47.4658 million yuan, an increase of 18.47%year -on -year. It is mainly due to the steady development of futures brokerage business, and futures customer rights and agency transactions have increased. The income of asset management business was 9.573 million yuan, accounting for 0.33%of operating income. In the previous year, asset management business revenue was 16.5104 million yuan, a year -on -year decrease of 42.02%.

At the same time, the income of investment consulting business was 584,200 yuan. Last year's investment consulting business income was 28,300 yuan, a year -on -year increase of 555,900 yuan. However, risk management business revenue was 27,958,400 yuan, accounting for 93.74%of operating income. Last year's risk management business revenue was 699,931,300 yuan, a year -on -year decrease of 61.24%.

From the composition of income, the decline in the asset management business and risk management business is the largest, which may be related to the decline in the performance of the two subsidiaries. According to the official website, Xian Rong Futures has two wholly -owned subsidiaries on Shanghai and Tianjin, and CICC Investment Xianrong (Shanghai) Asset Management Co., Ltd. and Zhongdian Investment Xianrong (Tianjin) Risk Management Co., Ltd. At present, the futures futures mainly rely on the asset management business of the first financing management, and the risk management business is carried out to rely on the fusion of the air management.

In addition, the reporter also found that the two subsidiaries were also regulated in 2021. On November 19, 2021, the Chongqing Securities Regulatory Bureau made a decision on "Decision on Organizing Correction to Correction" (hereinafter referred to as "Decision" ")," Decision "pointed out The related methods of related transactions are not complete, and the process and other contents are not complete.

"The individual asset management plan of the financing management company as a manager is investing in the shares issued by relevant related parties. It has obtained the consent of investors in advance and informed the custodian and investors afterwards. The bureau made the aforementioned decision on the financing management company. "Decision said.

In December 2021, the financing management was not enough to submit a rectification report to the Chongqing Securities Regulatory Bureau for the "Decision". One is to improve the affiliated trading system, adjust the division of labor of the management department, and clearly define the related parties and company related parties of the product. The relevant affiliated transactions are specified; the second is to improve the approval process of related affiliated transactions, distinguish the approval path of related company and products, and optimize the "related transaction approval form"; the third is to improve the disclosure of related affiliated transactions. Announcement, mail and other ways to optimize the disclosure of advance and post -after -to -the -after -to -the -after -to -after -to -after -to -the -after disclosure list; the fourth is to continue to improve the list of affiliated transactions and set up in the investment management system to strengthen transaction execution supervision.

As early as July 9, 2021, the CSRC publicly solicited opinions on the "Interim Measures for Management of Futures Company (Draft for Opinions)" (hereinafter referred to as "" Subsidies Measures ").It should be noted that the Securities Regulatory Commission stipulates that the futures company has established, transferred, and acquired subsidiaries or operating agencies participating in shares. The business scope and levels that do not meet the requirements will be rectified within 36 months.

The "Subsidies Measures" has further standardized the establishment of the subsidiaries of the futures company's subsidiaries, and compacting the futures company's responsibility for the management and control of the subsidiary.

Futures veteran Wang Yong told a reporter from Huaxia Times that the "subsidiary" may further connect with the futures law. The purpose is to better standardize the business development of futures company subsidiaries and improve their capital strength and anti -risk capabilities.

Editor -in -chief: Ma Xiao Chao Editor: Xia Shencha

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