Financial security is an important component of national security and a crucial foundation for stable and healthy economic development. The trading system is the fundamental core system of the securities industry and a key information infrastructure for national financial security. Currently, it is mostly built using foreign technology and heavily relies on foreign suppliers, facing the risk of being "stuck". As the substitution of information and innovation in the securities industry enters a deep water zone, how to achieve comprehensive substitution of information and innovation in the core trading system of securities companies poses significant challenges to the work of information and innovation. In 2023, Guotai Junan will take the lead in completing the construction of a full chain and full stack distributed securities core trading system (see figure). The company has independent intellectual property rights, advanced substitution, performance indicators, and disaster recovery capabilities that have reached the international first-class level. It is the first in the industry to achieve large-scale full stack innovation applications in complex production scenarios with complete core transactions and full links. It has successfully explored a smooth implementation path for a large-scale core system and driven the industry's innovation work to deepen. Inclusive finance enables ordinary customers to enjoy a fast trading experience. Leading the transformation and taking the lead in upgrading the core transaction technology architecture. Jointly research and build, drive the transformation of information and creative products from "usable" to "easy to use" on the industry side.
Autonomous and controllable, advanced substitution
Guotai Jun's secure chain full stack Xinchuang distributed securities core trading system fully realizes independent and controllable core trading, horizontally upgrades the full chain Xinchuang from mobile, desktop, branch, access services, core trading to disaster recovery, vertically replaces the full stack Xinchuang from servers, switches, storage to operating systems, databases, virtualization software, and middleware, and fully adopts Kunpeng servers, Huawei switches, Huawei storage, Galaxy Kirin operating system, GoldenDB distributed database, OceanBase distributed database, SmartX virtualization software, AMI distributed message middleware, as well as Xinchuang KCXP and KCBP middleware.
Guotai Jun's secure chain full stack Xinchuang distributed securities core trading system achieves advanced substitution while being independently controllable, and its performance reaches the international first-class level.
The core transaction realizes the decoupling of trading and clearing, and has the characteristics of low latency, high throughput, high reliability, and smooth horizontal scalability. The transaction has been upgraded to a full stack Xinchuang distributed low latency architecture with message bus as the core, resulting in a 90 fold increase in transaction speed. The throughput capacity has been increased by 8 times, and the capacity has been increased by 6 times. A low latency core trading system has been implemented on the Xinchuang equipment, allowing ordinary customers to enjoy a fast trading experience, improving customer commission rates and transaction efficiency, and achieving inclusive finance. The all business centralized clearing platform adopts full stack Xinchuang technology, based on a distributed architecture such as one household, multiple tenants, sharding, and virtualization cloud platform, covering standardized securities business, personalized company business, over-the-counter business, etc. It supports day end batch clearing, real-time daytime clearing, and multi batch clearing modes, and can clear according to different dimensions such as files, markets, varieties, and currencies. Implementing real-time credit trading night market commission based on transaction clearing decoupling technology architecture, providing multi-mode and multi-dimensional clearing services, supporting public bank insurance, proprietary business QFII、 Innovation in clearing businesses such as income swaps and interbank bond market counter services.
The mobile end is based on the HarmonyOS operating system, and it is the first application market to be launched in the industry, taking the lead in replacing mobile based innovation. Design a modular and pluggable front-end architecture based on technical and business components, which solves the problem of traditional securities app iteration delivery efficiency, functional experience, and flexible updates that cannot be achieved simultaneously. By combining native and mini programs, as well as H5 diversified mixed development, we ensure the stability and security of the app while achieving rapid launch and flexible application of business functions.
The desktop is based on a self-developed cross platform innovation framework, with an overall architecture design that is platform based, low coupling, modular, plugin based, multilingual, cross platform, and cloud based, thus achieving one-time development of desktop trading software and multi platform operation. By adopting innovative solutions such as memory sharing and asynchronous calling, the performance has been improved by 200%. The first desktop trading software in the industry to support Kirin and Tongxin UOS innovation systems.
The network achieves full replacement of information and innovation equipment, full adaptation of application systems, and full coverage of service channels. Based on the Xinchuang framework, we provide counters and self-service through SDWAN network and intelligent applications, and have established the industry's first fully Xinchuang branch for business processing.
The Internet access service exclusively adopts the SSL gateway, cooperative signature service and CA certificate of multi commercial password access technology to ensure the security and high availability of access. Adopting the Xinchuang Cloud Container Platform for deployment, the system resources are flexible and scalable, ensuring easy and rapid access and expansion. By using ProtoBuf serialization protocol and asynchronous bidirectional streaming technology, efficient data compression and fast parsing are achieved, improving access performance, achieving full link tracking, fuse current limiting, and monitoring and warning, with stable and controllable access.
The transaction disaster recovery system is based on the high-speed message bus one send multiple receive and state machine mechanism to achieve high availability mechanism innovation in two locations and three centers. Switching RTO within the same city takes less than 10 seconds, RPO=0。 Remote disaster recovery (RTO)<1 minute, RPO<1 second, and disaster recovery capability increased by 30 times, solving the long-standing problems of high availability dependent databases for core transactions, long interruption times for disaster recovery switching, and frequent data loss in the industry. The industry has pioneered a real-time backup mechanism for heterogeneous trading systems, which allows customers to seamlessly switch back to the original system within 3 minutes to continue providing services and maintain the bottom line of core trading and innovation substitution for safe production.
Real for real, fully online
Guotai Jun's secure chain full stack information and innovation distributed securities core trading system has completed a true horizontal full chain and vertical full stack information and innovation replacement, achieving breakthrough progress in industry information and innovation replacement work. It has taken the lead in realizing large-scale information and innovation applications in complex production scenarios throughout the entire core trading chain, successfully exploring a smooth implementation path for ultra large scale core systems, and driving industry information and innovation work to deepen. Actively participating in the construction of the HarmonyOS ecosystem, Junhong App, as the first pure HarmonyOS native application to be launched in the financial industry, won the "HarmonyOS Thousand Sails Pioneer Partner Award".
In August 2022, the new generation of Xinchuang distributed core trading system based on hybrid deployment architecture completed the full customer switching of the company, and for the first time in the industry, the new generation of Xinchuang distributed core trading system with millions of customers was launched. Explored the feasible implementation path for the online switching of the core trading system of securities companies' full chain and full stack innovation, and innovatively proposed a gray scale online publishing mechanism based on business and customer. The experience of online switching is highly replicable, driving the industry's innovation work to deepen. In 2023, the full chain and full stack Xinchuang core trading system will be launched. The full stack Xinchuang trading node, clearing full stack Xinchuang partition, and full stack Xinchuang trading disaster recovery have all carried over 19 million customers in operation. The number of people who have opened the mobile commercial security account is 2.518 million, with a 100% online gray scale ratio and an 8.6% commercial security transaction ratio 2%. Mobile Xinchuang Hongmeng has over 2.5 million monthly active users, and the mobile access center Xinchuang node carries approximately 2.5 million monthly active users and approximately 1.5 million users on the mobile end. The desktop access middleware has completed the one-to-one construction and operation of full stack Xinchuang local disaster recovery, with Xinchuang nodes accounting for 88.7% and a cumulative user base of about 2.35 million. The proportion of desktop Xinchuang access has exceeded 78%. In April 2023, the innovative plan for the construction of Xinchuang branches was officially launched in the Daduhe Road branch in Shanghai, becoming the first securities branch in the industry to achieve full Xinchuang business processing. Currently, it has been promoted and applied in nearly 8 branches including the Shanghai Lingang Branch and Shanghai Maoyuan Road. Since 2023, all 5 newly built branches have achieved 100% Xinchuang.
Leading the transformation, co researching and co building
In August 2022, the new generation of Guotai Junan distributed core trading system based on hybrid deployment architecture was successfully launched, achieving decoupling of trading and clearing, with the characteristics of low latency, high throughput, high reliability, and smooth horizontal scalability. In June 2023, the China Securities Association released the "Three Year Plan for Improving Network and Information Security of Securities Companies", which explicitly encourages securities firms with conditions to actively promote the construction of a new generation of core systems, actively transform from centralized proprietary architecture to distributed, low latency, and open architecture, and possess characteristics such as high availability, high performance, low latency, easy scalability, and loose coupling. The construction ideas and industry orientation of Guotai Junan's new generation of distributed core trading system are completely consistent. Guotai Junan also serves as the leader of the WG2 working group of the Information Technology Application Innovation Alliance in the securities and fund industry, leading the special technical research and development task of the core system of the securities and futures industry.
Guotai Junan has signed strategic cooperation agreements with Huawei, ZTE, Huarui Technology, Kirin Software, and other companies to establish a joint innovation laboratory for joint research and development, promoting the rapid optimization and maturity of Xinchuang products, and driving Xinchuang products from "usable" to "user-friendly". For the first time in the securities industry, ZTE GoldenDB distributed database has been used as the core system database, and more than 30 functions and performance improvements have been promoted. The processing capacity of batch business has been increased by more than 60%, and the execution efficiency of complex query statements has been improved by more than an order of magnitude. Promote the optimization of multiple core parameters for Huawei low latency switches, and for the first time, use Huawei low latency switches to build the world's largest transaction multicast network with nearly 10000 multicast table entries. Promote the improvement of more than ten aspects of Huarui AMI, including its large-scale deployment capability, high availability capability, and operation and maintenance monitoring capability. Promote a series of optimization, iteration, and upgrading of information and innovation products such as Kirin operating system, Kunpeng server, SmartX, and OceanBase distributed database.
Summary
Guotai Jun's secure chain full stack Xinchuang distributed securities core trading system is the first in the industry to complete the Xinchuang replacement and technological architecture upgrade of the core trading system, with independent controllability and advanced substitution. Equipped with a low latency core trading system on the Xinchuang equipment, ordinary customers can also enjoy a fast trading experience, improve customer commission and transaction efficiency, and achieve inclusive finance. Jointly research and build, drive the transformation of information and creative products from "usable" to "easy to use" on the industry side. Take the lead in realizing the large-scale application of Xinchuang software and hardware in complex production scenarios of core trading systems, achieving true substitution for true use. Since the end of September 2024, the securities market has experienced a comprehensive outbreak, with trading volume reaching a historic high. The core trading system of Guotai Jun's secure link full stack Xinchuang has responded to market conditions with ease, continuously and stably providing low latency trading services to customers. It has fully tested the Xinchuang solutions for core trading, boosted confidence in the replacement of Xinchuang in the industry, and driven the deepening of Xinchuang work in the industry.
(This article was published in the first half of January 2025 issue of Financial Electronics)