65438+1On the morning of October 26th, HKEx announced that due to software problems of external suppliers, the Hong Kong Futures Exchange Limited suspended the market fluctuation adjustment mechanism of Hang Seng Index Futures, hang seng china enterprises index Futures, Hang Seng Technology Index Futures, Small Hang Seng Index Futures and Small hang seng china enterprises index Futures for the current month and next month's contracts until further notice.
On the evening of the same day, HKEx announced that after detailed investigation with external suppliers, the root cause of the software problem that caused the suspension of the market fluctuation adjustment mechanism of Hang Seng Index futures products had been found.
The survey found that in some cases, the reference price has not been updated, and the outdated reference price will touch the market fluctuation adjustment mechanism.
The relevant situation occurred at1the early morning of October 25th 1 1: 22, which triggered the market fluctuation adjustment mechanism and the five-minute cooling-off period. The relevant reference price is only used for the market fluctuation adjustment mechanism, and has no influence on other transactions or other parts of the trading system.
"External suppliers are currently preparing to update the software and will conduct rigorous testing before using it. We will announce the progress of restoring the market fluctuation adjustment mechanism of Hang Seng Index futures products in due course. " The Hong Kong Stock Exchange said.
It is understood that the market fluctuation adjustment mechanism aims to ensure that the market maintains orderly trading during the period of large price fluctuations. If the contract price changes by more than 5% compared with the last transaction price (reference price) five minutes ago, a five-minute cooling-off period will be triggered. During the cooling-off period, market participants are still allowed to trade within the predetermined price range of 5% of the reference price. Since 20 17 was introduced into the derivatives market of the Hong Kong Stock Exchange, the market fluctuation adjustment mechanism has never been triggered.