This article comes from WeChat public account: China Business Daily (ID: chinabusinessjournal) , author: Chen Jialing, from the title figure: Figure worm
The word is the word of the word of the word
“Failure to meet regulatory requirements” and “close access permissions”, Wenhua Finance, which occupies the largest share of the domestic futures market, suffered a round of “collective blockade.”
According to incomplete statistics, as of the publication of the manuscript, more than 20 futures companies announced that they would suspend the trading access of Mandarin Finance due to regulatory compliance issues.
From the surprise “charge” in September 2018 to the system upgrade “adding patches” costing 1 million yuan; from “small futures companies don’t want to invest” to the early morning announcement “provide a full set of products and technical support for free”, In this round of fierce battles with futures companies, Mandarin Finance finally softly compromised, and also dropped negative comments such as “arrogance” and “overestimation of itself.”
As the first batch of service providers to provide futures information systems and occupy 97% of the market, what is the bottom line for Mandarin Finance and how does it go from being “hard” to soft?
Start of technology: once occupied 97% market share
Wenhua Finance’s official website wrote: “Wenhua Finance is a fintech company founded in 1996 by a computer engineer who is obsessed with technology and believes that technology can change lives.” Its founder Shang Shouzhe, from Liaoning , Graduated from the University of Electronic Science and Technology of China, is a standard technology-based entrepreneurship.
The reporter learned that Shang Shouzhe wanted to be a securities consulting software, but at that time there was great wisdom in the market.