Design Of Clearing System In Securities Centralized Trading

With the rapid development of securities market, the brokerage business of securities companies has shifted from decentralized management to intensive and large-scale managemen. Because the class of business and the size of management increase continuously, securities companies need to establish a stronger, safer, more efficient platform of business so that they ean carry out the centralized management of business, and the centralized processing of trading and clearing for all their securities business departments. Furthermore, the platform is very necessary for securities companies to reduce their cost of expansion, to control their business risks, to carry out financial innovations, to improve their service level and so on. A securities centralized system involves billions of assets of RMB and large numbers of customers, moreover, and large amounts of real-time concurrency and batch computing will both appear in its runtime, so the efficiency and the stability of system are very important. From the viewpoint to the basic logic of business processing, the business system of a securities company includes two kernel parts, that is, the Real-Time Trading and the Day-End Clearing. The content of my design corresponds to the latter, it will be used in the clearing process for margin and share between the closing-time of every trading day and the opening-time of the next trading day.A clearing system in securities is essentially data processing for funds and shares, which establishes processing logic according as fixed rules and regards the received clearing data as basic data source. The main characteristic of a clearing system is large and dense computing in its runtime. Considering the main characteristics of securities market in China, such as wide participator, active dealing and large amounts of bargaining, it can be confirmed that those conventional or simple clearing modes have not already sufficed for the actual requirements. On the other hand, from the point of view of practice, a clearing system will also be confronted with some risks, such as a time-consuming processing, a false transaction, destroying trading, leaks in safety and so on. So it will be the most important objective for us to design a efficient, stabile, accurate and secure clearing system, which also costs suitably and is easy for its upgrading and maintenanceBased on the practice and problem in my work, the article analyzes and designs the clearing system deeply. This paper mainly carries on the following several works:1. To finish the user requirements analysis basing on the comparison between a centralized system and a decentralized system, the analysis of the problem in old system, and communication with business personnel.2. To finish the preliminary design according to the user requirements analysis.3. To finish the detailed design basing on the preliminary design.4. To make a integrated test and analyze the result of the test.5. To think over improving the system farther and conceive of its development trend...