Participants in various markets:
In order to further improve the trading system, with the approval of the China Securities Regulatory Commission, the Shanghai Stock Exchange (hereinafter referred to as the Stock Exchange) revised the “Shanghai Securities Exchange Risk Warning Board Stock Trading Management Measures (hereinafter referred to as “Administrative Measures”). The relevant matters are hereby notified as follows.
1. The second paragraph of Article 8 of the “Administrative Measures” is amended to read: “Except for the first day of listing of re-listed stocks after delisting, risk warning stock exchange If the hand rate reaches or exceeds 30%, it is abnormally fluctuating. The Exchange may temporarily suspend it according to market needs, and the suspension period will continue until 14:57 of the day. “
< / div> 2. Article 9 of the “Administrative Measures” is amended to read: “Stocks that resume listing after the suspension of listing, and there is no price limit on the first day of resumption of listing. The temporary suspension of trading will be implemented.
The stocks that are re-listed after delisting will not be subject to any increase or decrease restrictions on the first day of re-listing. Yes, the Exchange temporarily suspended trading:
(1) The intra-day trading price rose or fell by 30% or more than the opening price for the first time;
(2) The intra-day trading price rises or falls to or exceeds 60% for the first time compared to the opening price of the day;
( (3) Other conditions that the China Securities Regulatory Commission or the Exchange believes should implement a temporary suspension of trading during the trading day. “
3. Article 10 is newly added: Stocks that are subject to temporary suspension of trading in accordance with the provisions of the preceding article shall be implemented in accordance with the following provisions:
(1) The duration of a temporary suspension of trading in a single session shall be 10 minutes;
(2) If the suspension time exceeds 14:57, the trading resumes at 14:57 of the day;
(3) During the temporary suspension of trading, you can continue to declare or cancel the declaration. When resuming trading, you must implement collective bidding to match the accepted declarations. “
: “After the temporary suspension of intraday trading, the Exchange will pass the officialFang’s website (www.sse.com.cn) and satellite transmission system make announcements.
The specific suspension and resumption time shall be subject to the announcement of the Exchange. “
V. New Article 12:” Stocks that are re-listed after delisting, the limit price declaration of the continuous bidding stage on the first day of re-listing shall meet the following requirements :
(1) The declared bid price shall not be higher than 102% of the purchase benchmark price; 2) The declared selling price shall not be lower than 98% of the selling base price.
The benchmark price for buying (selling) referred to in the preceding paragraph is the declared price of the lowest selling (highest buying) revealed immediately; the lowest selling without immediate disclosure The (highest bid) declared price is the highest bid (lowest sell) declared price disclosed immediately; the highest bid (lowest sold) declared price without immediate disclosure is the latest transaction price; if there is no transaction on the day, Is the previous closing price.
The price limit declaration in the stage of collective auction and suspension of trading during the market opening period has no price restrictions. ”
Sixth, the full text of the revised“ Administrative Measures ”is republished (see the attachment for details) and will be implemented as of the date of publication. The Notice on Amending Article 8 of the “Shanghai Stock Exchange Risk Warning Board Stock Trading Management Measures” (Shangzhengfa [2018] No. 61) issued on the same day is repealed.
Notice here.
Shanghai Stock Exchange
May 29, 2020
(Original title: Notice on Amending the “Shanghai Stock Exchange Risk Warning Board Stock Trading Management Measures”)