The Shenzhen Stock Exchange ("SZSE") has recently promulgated after revision such business rules as the Trading Rules of the Shenzhen Stock Exchange (Revised in 2016) (the "Rules"), the Implementing Rules of the Shenzhen Stock Exchange for the Trading, Purchase and Redemption of Securities Investment Funds (Revised in 2016), the Implementing Rules of the Shenzhen Stock Exchange on Bond Trading (Revised in 2016), the Implementing Measures of the Shenzhen Stock Exchange on Securities Lending for Refinancing (for Trial Implementation) (Revised in 2016), the Implementing Rules of the Shenzhen Stock Exchange on Network Voting at General Meetings of Shareholders of Listed Companies (Revised in 2016) and the Guidance of the Shenzhen Stock Exchange on the Provision of Network Services: Identity Authentication Services for Investors (Revised in 2016), with effect as of May 9.
Compared with the original rules, the Rules involve the revisions in the following four aspects: 1. the mainframe of the SZSE will no longer accept any declaration for auction trading from 9:25 AM to 9:30 AM; 2. negotiated block trading will not be adopted for pledge-type repurchases of bonds and combined orders anymore; 3. negotiated block trading of bonds will be subject to the real-time deal confirmation and market information disclosure; and 4. the SZSE will no longer accept any declaration for negotiated block trading of any securities subject to temporary suspension of trading or suspension of trading until closing.