The second draft of the guide for stress testing of securities trading and settlement systems has been released, seeking feedback from the industry.

On February 12th, it was exclusively learned from the industry insiders that the China Securities Industry Association recently sought industry opinions again on the "Guidelines for Stress Testing of Securities Firm Trading and Clearing Systems." It is reported that in order to further establish and improve the stress testing system for trading and clearing systems, and to strengthen the connection between the "Testing Guidelines" and the "Guidelines for Stress Testing of Securities and Futures Trading and Clearing Systems," the CSIA, based on feedback from previous consultations, has made modifications and improvements to the initial draft of the "Testing Guidelines" issued in September 2025, forming the second draft. A review by a journalist found that compared to the initial draft released in 2025, the second draft has made significant revisions and supplements in more than ten key areas such as testing frequency, environmental requirements, responsibility allocation, and regulatory coordination, demonstrating a clear direction of comprehensive refinement of regulatory requirements, more proactive risk management, and closer integration between self-regulation and administrative supervision. In the view of industry insiders, this revision marks a gradual evolution of regulatory oversight of stress testing in the securities industry from "following established rules" to "implementing precise measures."