Penetrating management is a management model. Its first meaning is to intervene step by step and leave traces at each level. It can most directly convey the leadership will to each level and avoid the emergence of different levels. There are situations where misinterpretations lead to artificial interference with work tasks. The second level of penetrating management means breaking down departmental barriers to achieve cross-departmental integration of business and efficient integration. Penetration itself involves two considerations. The first is investor suitability requirements, and the second is regulatory arbitrage. From a legislative perspective or from the perspective of financial business risks themselves, penetration should be understood as end investors having full knowledge of the underlying assets and objectively having the risk tolerance to invest in the assets. Penetrating management is a management model. Its first level means to intervene step by step and leave traces at each level. It can most directly convey the leadership will to each level and avoid misinterpretations at different levels that lead to artificial tasks. interference situation. The second level of penetrating management means breaking down departmental barriers to achieve cross-department integration of business and efficient integration. Penetration itself involves two considerations. The first is investor suitability requirements, and the second is regulatory arbitrage. From a legislative perspective or from the perspective of financial business risks themselves, penetration should be understood as end investors having full knowledge of the underlying assets and objectively having the risk tolerance to invest in the assets. Penetrating management is a management model. Its first level means to intervene step by step and leave traces at each level. It can most directly convey the leadership will to each level and avoid misinterpretations at different levels that lead to artificial tasks. interference situation. The second level of penetrating management means breaking down departmental barriers to achieve cross-department integration of business and efficient integration. Penetration itself involves two considerations. The first is investor suitability requirements, and the second is regulatory arbitrage. From a legislative perspective or from the perspective of financial business risks themselves, penetration should be understood as end investors having full knowledge of the underlying assets and objectively having the risk tolerance to invest in the assets. 1. Penetrating supervision, which is a supervision method of the China Securities Regulatory Commission, means that the regulatory authorities can see through investors’ securities accounts and clearly understand the situation of each account. Don’t look at orders, order cancellations, or transactions, because the login information covers all your transaction information, and the information will be collected several times after logging in several times. 2. Penetrating supervision, including see-through supervision, has little impact on the normal transactions of most investors. It has a greater impact on self-developed programs, such as programmed and high-frequency trading. Key see-through supervision frequently reports withdrawals and multiple transactions. Account and trading behavior that violates trading rules and disrupts the market. 3. Penetrating supervision requires futures companies to certify and manage the trading terminal software used by investors to ensure that the software has the function of truly, accurately and completely collecting and reporting investor trading terminal information. The terminal information can be encrypted and collected by the trading counter, and submitted to the futures market monitoring center through encrypted channels. The monitoring center will establish an information analysis and trading behavior analysis system based on the collected big data information!

4. Why should the China Securities Regulatory Commission implement see-through supervision: It will help futures exchanges strengthen front-line supervision and the China Securities Regulatory Commission’s regulatory enforcement, maintain the order of the futures market, and protect the interests of investors. For example, some related accounts that use advanced trading software programming technology to manipulate the market can be supervised to form a deterrent so that they do not dare to manipulate the market at will. Recommended other related content 21. Penetrating supervision is a supervision method of the China Securities Regulatory Commission, which means that the regulatory authorities can see through investors’ securities accounts and clearly understand the situation of each account. Don’t look at orders, order cancellations, or transactions, because the login information covers all your transaction information, and the information will be collected several times after logging in several times. 2. Penetrating supervision, including see-through supervision, has little impact on the normal transactions of most investors. It has a greater impact on self-developed programs, such as programmed and high-frequency trading. Key see-through supervision frequently reports withdrawals and multiple transactions. Account and trading behavior that violates trading rules and disrupts the market. 3. Penetrating supervision requires futures companies to certify and manage the trading terminal software used by investors to ensure that the software has the function of truly, accurately and completely collecting and reporting investor trading terminal information. The terminal information can be encrypted and collected by the trading counter, and reported to the futures market monitoring center through encrypted channels. The monitoring center will establish an information analysis and trading behavior analysis system based on the collected big data information!

4. Why should the China Securities Regulatory Commission implement see-through supervision: It will help futures exchanges strengthen front-line supervision and the China Securities Regulatory Commission’s regulatory enforcement, maintain the order of the futures market, and protect the interests of investors. For example, some related accounts that use advanced trading software programming technology to manipulate the market can be supervised to form a deterrent so that they do not dare to manipulate the market at will.