华鑫证券信息技术部总经理崔宏禹、华鑫证券信息技术部副总经理张林方、华鑫证券信息技术部夏雨 随着证券交易产品种类的显著增长和交易策略的日益多元化，证券市场中的异常交易行为愈发难以察 觉，其手段亦愈发复杂隐蔽。当前，异常交易监控体系利用分时交易数据来实现对异常交易行为的监 控，面对一些高度复杂的投资策略，频繁出现计算偏差，导致对某些异常交易行为的识别疏漏，传统监 控体系难以应对。与此同时，国际主流风控系统受限于监管自主性与数据安全等问题，在国内证券机构 的应用面临诸多制约。 随着国家相关技术自主战略深入推进、新"国九条"发布及证监会程序化交易监管规则的逐步完善，为证 券行业风险防控技术升级提供了政策导向。国产化软硬件强调数据安全与关键核心技术自主可控目标， 程序化交易监管规则不断完善，对交易监测系统提出"国产化、可审计、低时延、可解释"的系统化要 求。在此背景下，本文将聚焦FPGA赋能异常交易检测检测与风险防控，剖析多技术融合在异常交易风 险防控中的理论机制与应用价值，为证券行业构建自主可控、高效精准的风控体系提供参考。 一、证券异常交易风险防控的现状与问题 当前国内证券行业在异常交易风险防控领域仍面临多重挑战， ...

Summary of Conference Call Notes Industry Overview - The discussion revolves around the low-altitude economy, focusing on communication, navigation, and surveillance systems for efficient management of low-altitude flights [1] Key Technologies and Their Characteristics Radar - Coverage range: 50 to 300 kilometers - Positioning accuracy: 10 to 100 meters - High real-time capability and all-weather operation - Suitable for aviation control and military early warning - High maintenance costs and interference issues [2] ADS-B (Automatic Dependent Surveillance–Broadcast) - Coverage range: 200 to 300 kilometers - Positioning accuracy: 10 to 30 meters - High data accuracy and low cost - Compatible with global civil aviation standards, mainly used in civil aviation monitoring and airport traffic management [2] 5G Technology - Coverage range depends on base station density - Positioning accuracy: 1 meter - High real-time capability and low latency - Supports massive device connectivity and AI analysis - Limitations in remote areas due to base station dependency [3] Beidou Satellite System - Positioning accuracy: 1 to 5 meters (higher with enhanced services) - Global coverage and strong anti-jamming capabilities - Suitable for drone navigation and maritime search and rescue - Accuracy affected by obstructions like buildings and weather [4] Electro-Optical and Infrared Technology - Coverage range: 1 to 10 kilometers - High precision and real-time capability - Suitable for security, anti-drone operations, and nighttime monitoring [5] Trends and Future Developments - Integration of communication and radar functions in 5G base stations is a key trend, enhancing low-altitude monitoring capabilities [10] - The development of a multi-layered perception and defense network for low-altitude management is underway, with various technologies being combined for better coverage and efficiency [12][13] - The market is seeing a push towards the commercialization of radar systems for various applications, including public safety and low-altitude monitoring [14] Company Initiatives - The company has developed various low-altitude monitoring radar systems and solutions, aiming to create a comprehensive low-altitude management system [12] - New products targeting low-altitude threats have been introduced, including K-band dual-polarization active phased array radars [14] Important Notes - The conference call content is intended for internal use only and should not be shared externally [15]