SSE is neither a state-owned enterprise nor a central enterprise. It is a member legal person who provides places and facilities for centralized securities trading, organizes and supervises securities trading and implements self-discipline management. It is supervised and managed by China Securities Regulatory Commission. Shanghai Stock Exchange has developed into a comprehensive stock exchange with four kinds of securities trading: stocks, bonds, funds and derivatives, and has established a self-regulatory system to ensure the standardized and orderly operation of the Shanghai stock market. In order to continuously improve the user experience of market players, the Shanghai Stock Exchange has optimized the business rule system architecture based on market demand, and formed a brand-new business rule system with four major markets as the core modules, cross-border interconnection and transaction innovation as the characteristic modules, and articles of association, member management, punishment and charging matters as the general modules. At the same time, after comprehensive cleaning and integration, the numbering and hierarchical division of business rules have been greatly simplified, and a light framework with basic rules as the main part, rules application guidelines as the branches and leaves, and business operation guidelines as the supplement has been formed, and business rules and guidelines have been continuously classified and numbered.