Core Viewpoint - The China Securities Association has drafted the "Guidelines for Pressure Testing of Securities Company Trading and Settlement Systems" to enhance the reliability of trading systems and protect investors' rights amid increasing trading volumes and system performance issues [1][2]. Group 1: Guidelines Overview - The "Testing Guidelines" consist of six chapters and twenty-eight articles, covering general principles, basic requirements for pressure testing, testing processes and methods, reporting and application of test results, self-regulation, and supplementary provisions [1]. - The guidelines aim to solidify the responsibility of securities firms in pressure testing and improve the management mechanism for such tests [1]. Group 2: Management Mechanism - Securities firms are required to establish a robust pressure testing management mechanism, clarify personnel responsibilities, and provide necessary technical support and resources for effective testing [2]. - The guidelines mandate that firms conduct at least one pressure test annually in production-like environments, while key infrastructure units must conduct at least two tests per year [2]. Group 3: Testing Process - The guidelines detail the steps for conducting pressure tests, including defining test objectives, preparing test plans, executing tests, analyzing data, and submitting reports [2]. - Specific requirements and operational methods are provided for each step to ensure the standardization and effectiveness of the pressure testing process [2]. Group 4: Application of Results - Firms must promptly identify system performance issues and potential risks, taking effective measures for resolution [3]. - Regular evaluations of the effectiveness and applicability of pressure testing methods are required, along with the use of standardized report templates for documentation [3]. Group 5: Self-Regulation - The China Securities Association will conduct at least one annual assessment of the pressure testing of trading and settlement systems [3]. - Firms failing to comply with testing requirements or submitting inaccurate reports will be subject to corrective actions and notifications to local regulatory bodies [3].

中国证券报·中证金牛座记者2月12日从业内独家获悉，中国证券业协会近期再次就《证券公司交易结算 系统压力测试指引（征求意见稿）》（下称《测试指引》）征求行业意见。 据悉，为进一步建立健全交易结算系统压力测试体系，并加强《测试指引》与《证券期货业交易结算系 统压力测试指南（修订版）》之间的衔接，中证协在结合前期反馈意见的基础上，对2025年9月下发的 《测试指引》初稿进行了修改完善，形成了第二稿。 记者梳理发现，与2025年发布的初稿相比，二稿在测试频率、环境要求、责任归属、监管联动等核心环 节进行了多达十余处的重要修订与补充，呈现出监管要求全面细化、风险管理更趋主动、自律与行政监 管衔接紧密的鲜明导向。在业内人士看来，此次修订标志着证券行业交易结算系统压力测试监管正 从"有章可循"向"精准施策"逐步演进。 最引人注目的变化在于压力测试的触发机制。初稿仅要求证券公司每年至少开展一次测试。二稿则明 确，证券公司使用生产环境或者与生产环境配置相当的测试环境，每年至少开展一次交易结算系统压力 测试，关键信息基础设施单位每年至少开展两次交易结算系统压力测试。 "二稿对测试频率要求的变化体现了分类监管、抓住关键的思路。" ...

9月26日，《证券日报》记者从券商处获悉，为规范券商的交易结算系统（以下简称"系统"）压力测试 管理，识别系统稳定性潜在瓶颈，发现隐藏问题，提升系统稳定性保障能力，保护投资者合法权益，中 国证券业协会（以下简称"中证协"）近日就新起草的《证券公司交易结算系统压力测试指引》（以下简 称《测试指引》）征求意见。 原标题：中证协拟出台新规助力券商交易结算系统可靠性再升级 《测试指引》旨在提升券商对压力测试工作的重视程度，推动其持续完善交易结算系统压力测试管理机 制，从而增强证券行业交易结算系统的可靠性。 近年来，随着证券市场交易量快速放大，券商交易系统性能不足的问题频发。在此背景下，证券行业亟 须切实提升性能容量管理能力，以有效应对市场波动带来的冲击。从内容框架来看，《测试指引》分为 六章，共二十八条，分别为总则、系统压力测试基本保障与要求、系统压力测试流程与方法、系统压力 测试报告与应用、自律管理、附则。 在建立健全压力测试保障机制方面，《测试指引》对券商提出了明确且具体的要求。一方面，规定了券 商要健全压力测试管理机制，完善相关管理制度，明确人员职责与分工，并为压力测试工作提供必要的 设备和技术支持，确保测试环 ...