Futures companies announce closure of Mandarin Finance software
Previously, Wenhua Finance upgraded software to meet penetrating regulatory requirements, and then required futures companies to bear the costs, which caused dissatisfaction among many futures operating agencies.
Repeated increase in charging requirements has caused contradictions. Since January 2 this year, some futures companies have stated that there is a compliance issue with Mandarin Financial's trading software, and if the requirements are not met before January 21, the related software will face the risk of suspension. On the 6th, Wenhua Finance responded that the technical upgrade of penetrating supervision requires capital investment, and some small futures companies refuse to upgrade because they do not want to invest.
This dispute appears to stem from software compliance issues, and is actually triggered by the new charging policy of Mandarin Finance . Previously, Wenhua Finance issued a notice that, starting from October 10, 2018, all domestic futures and option contract transaction orders commissioned through the Wenhua Portable App and other fees will be charged. On May 16 last year, Mandarin Finance also issued a notice to start charging for the data provided by the four exchanges of the CME Group, that is, users who need to use real-time market data, must download software such as wh7 from the Mandarin website and purchase Authorized account. Recently, due to software upgrades, Mandarin Finance once again asked futures companies to pay.
The chief risk officer of a futures company said that because the industry usually buys software for customers, futures companies charge transaction orders and market software, which is equivalent to charging the futures company in disguise, increasing the futures company's customer acquisition costs. Large profit futures companies may still be able to afford it. If small and medium futures companies do not spend this money, they will face the problem of customer loss.
Futures company raises compliance issues. On January 3 this year, Guangzhou Futures issued an announcement saying that the Futures Exchange, China Securities Regulatory Commission, and China Market Monitoring Center successively issued notices such as the implementation of penetrating regulatory requirements. Futures companies were required to conduct regulatory requirements. Relay agent software management and certification.
Guangzhou Futures will point directly at Mandarin Finance , "After investigation by our company, among the trading software currently provided, Mandarin Finance's trading software (including Mandarin Winshun, Mandarin Walkman, Mandarin Wins, etc.) is not in compliance with supervision for the time being. Requirement. Our company will continue to follow up the rectification of Mandarin Financial's trading software. If it fails to meet the regulatory requirements before January 21, 2020, it will face the risk of deactivation. "
Yesterday, a number of large futures companies such as Yongan Futures , CITIC Futures, Guotai Junan Futures, Nanhua Futures , Haitong Futures announced that they will close the software series of Mandarin Finance .
Taking Wing On Futures as an example, its official website announcement shows that Wing On Futures will close access permissions for other software, including Wenhua Financial Trading Software (Wenhua Winshun, Wenhua Portable, Wenhua Ruiqi, Wenhua Yingzhi and Wenhua Kuan, etc.). At that time, investors using such software will not be able to log in to transactions, and will not be able to use functions such as inquiries and transactions.
Mandarin Finance responds to a change in attitude. For previous announcements issued by several small and medium-sized futures companies, Mandarin Finance has responded on January 6 this year, stating that: " The Mandarin Finance Trading Software has not met regulatory requirements and may stop in the market." "Use" is a rumor, and Mandarin has given a solution and has sent it to various futures companies. But technology that meets the requirements of penetrating supervision requires economic investment, and some small futures companies do not want to invest and refuse to upgrade. As a result, customers of small futures companies that are just individuals who do not want to upgrade will be affected. Regulatory requirements require that upgrades be completed by January 20 this year, and some large companies are upgrading their systems. Before January 20 this year, Mandarin Finance will announce on the official website that it will continue to support its futures companies.
On January 8 this year, Wenhua Finance issued an upgrade announcement on penetrating supervision, saying that it had previously ignored communication with the upstream and downstream of the futures industry, resulting in differences between the division of responsibilities and input allocation and the futures company. Bringing trouble to the market and investors. The announcement also stated that Mandarin Finance is working on a special plan and new software for small futures companies, and is working overtime to develop it for completion by January 20.
Yesterday, before many futures companies issued announcements, Wenhua Finance also issued a notice to various futures companies. The content was that the directly connected version of wh6, which was developed in full compliance with penetrating regulatory requirements, had been developed, and a new version of wh6 had been developed. Gateways that support trading communications directly connected to futures companies no longer pass through the Mandarin transit system. However, the futures companies did not buy it.
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