Date: December 18, 2013
Source: Futures Daily

　　The 2nd IT Symposium for (Beijing) Futures Companies”, co-sponsored by the Beijing Futures Association and the Tianjin Futures Association, was held in Beijing on December 14, 2013. Yi Zhiquan, Head of the Beijing Regulatory Bureau IT Group of the China Securities Regulatory Commission (CSRC) said in his address at the meeting that information technology system is the cornerstone of the securities and futures industry as well as the core link of safe and stable securities and futures market. In the backdrop of innovative development of securities and futures industry, securities and futures companies should size up the situation of information safety.
　　According to Feng Tianning, Deputy Director of Futures Division of the Beijing Regulatory Bureau, in recent years, the CSRC has done all it can to boost the safeguarding abilities of futures industry. To achieve that end, the CSRC has kick-started relevant information technology work while launching wide-ranging construction of information system backup capabilities and full deployment of information system safety rating security work. Meanwhile, information technology safety inspection across the industry has been conducted in nearly 400 small items and several big items such as system safety, data security, maintenance management and emergency management. The effective implementation of these initiatives concretes overall security and stability of China's futures industry information technology. At present, futures industry information security task remains arduous with the grim information security situation at home and abroad, coupled with investors' low tolerance of information security accidents.
　　“We will see more business and technology-based innovations, overlap between securities and futures business, intercommunication and interconnection between futures and spot market, ongoing strengthening linkage of cross-market, cross-industry and cross-border business, with the continuously emerging innovative activities including products innovation, transaction mechanism innovation and services innovation. The best historical opportunity for developing China's futures industry will fall on in the next 5 to 10 years, which also calls for higher demand on the information system construction,” said Liu Tiebin, Director of Information Division of the China Futures Association, at the meeting.
　　“The emerging opportunities for capital market information system owes much to the following factors: the rapid development of information technology and communication technology; significant enhancement of computer processing power, storage capacity and network communication capability; extensive application of new technologies such as the open-source technology, cloud computing, mobile internet, large data processing and XBRL; the introduction of latest trading technology including automated trading; the innovation and development of new industry such as internet finance,” said Liu Tiebin.
　　Liu said that seven tasks are listed on the next year’s work agenda of information technology for futures industry: to strengthen technical standards across the industry; to implement the newly revised “Management Guidelines on Information technology of Futures Companies”; to reinforce contingency drills so as to improve the capability of contingency response; to intensify online training and facilitate technology training overseas; to build and complete an inter-exchange linkage mechanism and strengthen software testing; to reinforce the construction of intensive disaster backup; and to facilitate talents cultivation.