◎ Reporter Liang Yinyan

After the introduction of the new "National Nine Articles"3pokerAt the first "May 15 National Investor Protection Publicity Day" event3poker, the China Securities Regulatory Commission issued the "Regulations on the Management of Processed Transactions in the Securities Market (Trial)"(hereinafter referred to as the "Administrative Regulations"). As a normative document of the China Securities Regulatory Commission, the "Management Regulations" mainly clarify the regulatory framework for "general management" and authorize stock exchanges, industry associations, etc. to make special provisions on specific measures, gradually forming the "Management Regulations", implementation rules, exchanges and associations. A three-dimensional rule system that connects the specific business rules of the association.

At present, the stock exchange is working hard to draft implementation rules and will publicly solicit opinions after they are basically mature. In the next step, the Shanghai and Shenzhen North Stock Exchanges, the Securities Industry Association, and the Fund Industry Association will also issue relevant business rules to clarify abnormal transaction monitoring, value-added market charges, differentiated charges for high-frequency transactions, model entrustment agreements, and northbound procedural transaction supervision. Specific arrangements such as emergency handling, technical system management, host hosting, and system access are expected to mature and be launched one after another.

Promote the construction of a three-dimensional rule system for programmatic transactions

It is reported that the "Management Regulations" closely focus on the main line of strengthening supervision, preventing risks, and promoting high-quality development. It is the first time that the China Securities Regulatory Commission has issued rules for the supervision of procedural transactions and initially established a general framework for the supervision of procedural transactions. In the future, the China Securities Regulatory Commission will continue to promote the construction of a three-dimensional rule system for procedural transaction supervision.