NEEQ News Text
Public offering, Continuous Auction and Other Business Systems To Be Launched on March 30
2020-03-28 A - A +


According to the overall work plan of the CSRC on the reform of the NEEQ, the NEEQ organized on March 28, 2020 to carry out the technical system clearance test of the public offering and continuous auction and other services involved in the second phase of the comprehensive deepening reform. The core technical systems of all participating institutions have met the requirements for going online. On March 30, 2020, business systems such as the public offering and continuous auction will be officially launched.

On December 30, 2019, the adjustment of the call auction frequency of the Base and the Innovation Tier and the management of investors' suitability classification was launched. The relevant businesses have been successfully launched. As of March 30, 2020, the subscription and allocation of stocks of the NEEQ Select companies and continuous auction transactions will be ready for technical development. At the same time, the minimum number of shares per order is adjusted to 100 shares, eliminating the integer multiple requirement; block trading can be acquired all-day and the range of transaction prices can be adjusted; market making trading operates according to the adjusted rules.

IT systems are ready for application, acceptance and review of public offering, and for underwriting business. The NEEQ will start related business in due course. Accordingly, the NEEQ has upgraded its official website, a column named "Public Offerings and Listings on the NEEQ Select" will be launched simultaneously on March 30, 2020. The project dynamics and information disclosure documents regarding the public offering of stocks and its listing on the NEEQ Select will be presented in the column.

This NEEQ reform involves a wide range of technical system revamps related to public offerings and continuous auction. In order to ensure that related businesses go online smoothly, under the leadership of the NEEQ Reform Leading Group of the CSRC, under the guidance of the Information Center of the CSRC, the NEEQ successfully completed the transformation of its internal technology system. More still, NEEQ has worked together with other institutions to steadily advance the technology preparation work for the entire market. As of January 6, 2020, in cooperation with China Securities Depository and Clearing Corporation, Shenzhen Securities Communication Co., Ltd., China Securities Index Co.,Ltd., Securities Association of China, 96 Securities Companies, 12 fund companies and 10 key information providers, 3 rounds of mock tests, 4 rounds of the entire network tests, 2 stress tests, 1 disaster recovery switchover drill were carried out. On-site or video inspections of the technical preparations of 19 securities companies and 9 major developers were carried out, laying a solid foundation for the success of the clearance test.

In the next step, the NEEQ will, under the leadership of the CSRC, fully organize the implementation of various reform measures, including the stock public offerings to unspecified qualified investors, while continuously improving technology to facilitate the market system, improve user experience, and ensure technical support.