With the increasingly active trading on the securities market, excessive short-term scalping becomes more and more obvious. In its trading supervision, the SSE has found many times that some accounts have large-volume and continuous trading at the order prices much higher than the market prices, thereby pushing up prices rapidly to the daily maximum trading limit. All this, a severe impact on the normal supply and demand of the securities market, has violated the system of market trading. After several rounds of investigation, the SSE targeted an individual account at the Baoqing Road Business Department in Shanghai of Orient Securities Co., Ltd. Upon analysis, the account had greatly influenced the stock prices, with repeated large-volume trading of several stocks that led to their daily maximum trading limit recently. In line with the supervision guidelines of the China Securities Regulatory Commission, the SSE, to further strengthen its punishment according to the trading rules, decisively imposed trading restriction on the account that did not listen to prior warning. In the future, the SSE will take more measures including trading restriction to crack down on illegal trading for protection of the market order.
Source:Shanghai Securities News
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