Funds rushing in! ICBC Securities Transfer Net Value Index hits a new high since 2021! Brokerage IT Department: May have to work overtime during the National Day holiday

The A-share market has been rising for consecutive days, activating market sentiment. Under a series of heavyweight policies, this week (September 23 to September 27), the stock market saw a significant rally, with related stock indexes hitting multiple historical records, igniting investors' enthusiasm and attracting a large amount of funds into the market. According to data from Industrial and Commercial Bank of China (ICBC), the net value of investor bank-securities transfer funds on September 27 (referred to as the "ICBC Bank-Securities Transfer Net Value Index") soared to 7.04, significantly higher than the previous 4 trading days of 0.66, 2.15, 1.4, 4.4, with a weekly average of 3.13, reaching a new high in the past three and a half years since 2021. The ICBC Bank-Securities Transfer Net Value Index is defined as the ratio of the net transfer of funds from ICBC accounts to the securities market on the corresponding trading day to the daily average amount of net transfer of funds to the securities market from ICBC accounts in 2017, reflecting intuitively the situation of the net transfer of funds to the securities market by all ICBC investors on the trading day. From a structural data perspective, the participation of individual investors is particularly prominent. Data shows that from September 23 to September 27, the ICBC individual investor bank-securities transfer net value index remained positive, with a peak of 5.2 on September 27, which is 2.83 times that of the ICBC institutional investor bank-securities transfer net value index, highlighting the enthusiasm of individual investors for the current market surge. Industry insiders point out that despite the recent market heat, there is still a large amount of off-market funds yet to enter, indicating that there may still be room for further upside in the market. Earlier on September 27, after the market opened, the Shanghai Stock Exchange experienced a slow confirmation of transactions in the stock auction trading, which affected trading. The exchange gradually resumed stock auction trading starting from 11:13. The Shanghai Stock Exchange announced late on September 27 that they deeply apologized for the occurrence of this abnormal situation. Many A-share investors have reported that some stocks on the Shanghai Stock Exchange still cannot be traded or canceled after placing orders. On September 28, investors continued to report that they saw "delayed transactions" on their brokerage trading systems. According to feedback from investor Mr. Wang in the Shanghai area, "I noticed a strange situation. On the 27th, I placed several trades during trading hours, some were stocks, some were ETFs, all of which were listed on the Shanghai Stock Exchange. I refreshed several times during the day, and the brokerage system showed no transactions. I thought it might be due to an exchange malfunction that prevented transactions that day." "However, I now see from the settlement statement that most of these orders on the 27th have been executed. However, according to the brokerage system's order records, these orders are still in an unexecuted state," Mr. Wang said. In addition, on some social platforms, reporters from "National Business Daily" also saw investors expressing similar situations as described above On this unusual phenomenon, an IT professional from a securities firm analyzed, "This should be the exchange's transaction report delayed to the securities firm after trading hours on the 27th, so investors cannot see the transactions during trading hours. In the evening, after the securities firm clears the actual transaction data from the exchange, investors can see it." Due to the above situation, the IT (Information Technology) department of securities firms was busy on the 28th and 29th. An IT professional from a securities firm in central China told a reporter from "Daily Economic News" that they have noticed these issues and are currently working overtime to address them. According to a report from Yicai, the Shanghai Stock Exchange is scheduled to conduct bidding and other platform-related business tests on September 29th (Sunday). At three time points: 9:30, 10:00, and 10:35, pre-embedded orders will be sent to the bidding platform. All market participants are invited to participate in the test to mainly verify the accuracy of related technical platform business and technical adjustments. According to the Shanghai Stock Exchange's notice, the test content includes simulating trading and clearing for one trading day, with a focus on verifying the smooth operation of the bidding platform business when a large number of orders are concentrated during the continuous bidding period. Upon learning about the business test conducted by the Shanghai Stock Exchange, the aforementioned IT professional from a securities firm responded, "We're used to it. Eighty percent of our weekends throughout the year are spent working overtime to cooperate with various tests." The IT department professional from the securities firm in central China mentioned, "We will have to work overtime during the National Day holiday. After the National Day holiday, on the first trading day, the trading volume might reach a new high again."