(turn) information--4 of securities companies

Incredibly still people are interested in my series, the first two days someone asked me the core of the 4th where. In fact, skipped the 4th is the time when the number of negligence, but just give a vacancy, leaving the most important content.

Let's talk about a digression.
It was very early to hear the employees of Guotai Junan IT development department complain that the development work cost brain, but in the company's status is not as busy as the running Maintenance department colleagues. I've been feeling it lately. Why, supposedly, engage in development, it sounds pretty technical content, how even ordinary system maintenance personnel are inferior, wages are low, bonuses are low.
The reason for this is that within the securities company, the core value of the IT department is that it maintains an automated trading system, lacks the system, or even a little bit of fault in the system, which can cause uproar. Maintenance of this trading system is too important, the leadership is too concerned about this work, the leadership of the leadership of the eyes of it value is to maintain the smooth operation of the trading system, natural so around the work of the technical staff will be 12 points of attention, natural can get high-paying water.

This system is what we are talking about today as a counter trading system, the core of it value for each security firm.

Morgan Stanley, America's second-largest securities firm, used a large-scale recruiting of it developers in China 2 years ago to recruit workers for its Asia-Pacific securities trading system. Explain a phenomenon: in foreign big investment banks, its core trading system is basically self-developed. But in China, the counter system mainly consists of two developers: Hangzhou's Hang Seng and Shenzhen's Gold Card (of course, Goldstar, root nets and so on, but the scale is much smaller, there are some securities companies claiming to develop their own trading system, but more or less with the two companies "cooperation" completed). Securities companies only need to spend money to buy a complete set of trading system, by the Hang Seng and Gold card engineers to adjust the system, according to the existing functions of the system to carry out business.

3 years ago, most of the securities company's counter system was based on sales department as the basic unit. That is, each business department has its own independent counter server, telephone commissioned, online commissioned, silver card transfer and so on are based on this sales department, dozens of sales department each of the various, unrelated. Now the basic focus is on corporate headquarters. Below the image superficial description of this core trading system, give everyone a more macro and emotional impression.

There is a building in Shanghai Waigaoqiao that has a close relationship with the Shanghai exchange, which has a lot of empty rooms for rent, and the various securities companies have rented a lot of room here, and most of the counter-trading core servers are placed here. These buildings are often referred to as "IDC" Internet data centers, professional computer room management companies to provide commercial standards of the computer room and the environment, users (securities companies) spend millions of yuan a year to rent a room of different sizes. In addition to the computer room, IDC also provides ordinary office rooms for each company to manage the use of IT staff in their respective rooms. As a result, the maintenance staff of the counter trading system of many securities companies are actually working in this building. Their job-hopping was to jump from the house to the other room.

The core server of the counter system is a small server with a minimum value of more than 1 million (relative to the PC server, the concept of minicomputer is more upscale and more expensive), these servers generally run this oracle9i database operating system (also useful SQL2000, appear lower grade A little), This database is a hundreds of-sheet data sheet designed by Hang Seng (or Golden card) company.

The most important forms are (for example, the Hang Seng system):
1, the client table, this by BRANCH_NO (Sales department number), Fund_account (Customer Fund account), Client_name (Customer name), Id_no (identity card number), Rate_kind (Commission rate); Here, Fund_account only specified the customer. We say that opening an account is the fund_account of the opening.
2, fund table, deposit the balance of customer funds (current_balance), currency (Money_type, is the renminbi or the United States dollar, Hong Kong dollars? ）
3, Stockholder table, indicates the customer's fund account (Fund_account) corresponding to those shareholder account number (Stock_account), also explained this stock_account, is which Exchange (Exchange_type). Fund_account is a securities company to open an account, and Stock_account is the Exchange (registration company) to open an account, a shareholder to open a new account must be opened in Shanghai Shenzhen to register the company account (before the introduction remember? ), open the counter system account Fund_account generally have to stock_account (usually two Shanghai a Shenzhen a) to tell the account-opening lady, Miss recorded in the computer, is actually put in this table.
4, Stock table. Store the customer's stock balance. There are mainly Fund_account/stock_account/stock_code (stock code), Current_amount (share balance) and so on. A shareholder who has a stock of how many shares is determined in this table.
5, Fundjour table. Statement of changes in capital. Each shareholder's capital changes are recorded here. (Jour means to be in a running account.) ）
6, Deliverjour table. Statement of changes in shares. A record of the trading movements of each shareholder's stock is stored here. (Is this deliver word a little strange?) I wonder why it's not called the Stockjour table. ）

All right, all the same. All securities companies ' client transactions are carried out around these 6 tables, Of course, in addition to these 6 basic books Hang Seng 6 in the trading system also has more than 300 supporting tables, database system is constantly on the hundreds of data sheet using thousands of different business behavior constantly updated AH update AH updates, or continuous query query and query.

After all, that's what happened.

This most important counter database server, generally has a dedicated to data writing and updating, and several backup servers, using data synchronization software for real-time data synchronization, a large number of queries can be from several other backup servers to read data.

These are the most important data servers in the room most important location, by the most stable backup UPS power supply power, placed in the black 2 meters high, 60CM wide cabinet, fan sound, colorful small lights desperately glitter glitter blink.

Take the counter data server as the core, expand outward in several directions.
1, Exchange. The Exchange provides a dedicated data-reporting system, which is connected to the Exchange room by a high-level line. As a core component of the counter trading system, Hang Seng (Golden Card) provides the offer procedure (called trans?). The details of the trading system are really unclear. , this program constantly forwards the contents of the Entrust (Client Commission) from another important form in the counter database to the Exchange Offer system, or vice versa. Trans's nonstop work in milliseconds. The investors who do warrants short-term are concerned with these milliseconds (a bit exaggerated, but they absolutely care about seconds, 1 seconds, they can definitely feel it.) ）
2, Hang Seng (Golden Card) provides a complete business data routing network. The architecture of this network is the core part of the counter trading system in addition to the core database.
A) in the previous few, I mentioned that the counter trading system has two core functions: A: Customer book function, record the complete accounting book information (do not underestimate the function of this accounting, it is the core of business liquidation, the front mentioned that our counter system is not purely "trading" system, but also a complex "liquidation" System, our country before a lot of problems on the "transaction" and "liquidation" of the one, we are not clear, we also do not understand, to the supplier to provide the counter system to complete the securities company's own business process analysis planning and management. Second: The transaction data routing function, is in the real-time trading process how to ensure that the customer's buying and selling is accurate to the correct position, this is the meaning of "transaction". Especially after 2000, three layers or even multi-layer transaction routing mechanism, this flexible configuration of business data routing function has been played to the extreme.
b) Let's talk about it briefly. Initially in order to meet the separation of the trading network and the office network, in the cross-network segment of the machine to install data forwarding software (so-called transaction Gateway), can be less secure on the outside of the client delegation records through the transaction gateway to the core database server in the intranet. Later, the gateway can also connect to another gateway, and then the next gateway, which has a routing function, by setting the routing table on the routing software (indicating which types of business data from which sales department should go to the next one of the routing Business Gateway). And, now in the outside of the database is a layer called Business application services (these nouns are fashionable in the internet craze in the end of the last century), there is no database concept, completely blocked by the application server software, for example, I want to buy a stock, used to directly call the database stored procedures, Now just provide some standard parameters to the application server (as), and then it is generally embedded into the C language of the SQL statement to complete the business task (implementation of business logic. ）
At the moment this understanding does not matter, perhaps half a month to look back can understand what I mean. Life is the art of imperfection!
3, the Internet. Sales department has become more and more as a marketing site and the opening of the account, more than 75% of the transaction is actually the customer through the online commissioned. Software companies such as nuclear new and TONGDA have developed a solution that can be downloaded from the client software (which is the software that we often see on the Securities Company's website) to the server. These services are then entered into the network world of the trading system through the AR (application routing) software of the above mentioned counter system.
4, Sales department. Now the function of sales department more and more toward the direction of marketing center development. In addition to the market system itself, the trading network has been completed to become the entire company by the AR and as the end of the business data routing world. For example, the Counter account function, customer rate settings, designated transactions, and so on, through the Hang Seng (Golden Card) provided by a Windows interface client software completed. In addition there are traditional card software, big room hot self-help software, telephone commissioned and so on. As the end-data acquisition system in the background of the routing world.
5, Banks. Oh, this is an important partner. The original silver card transfer was suddenly replaced in 2007 by a nationwide, completely revolutionary three-way depository. The significance of the three-way depository is that the client's financial data has finally been fully mastered by a third party outside the securities firm, in the finest detail. The Securities company finally has no way to monopolize the customer's financial details to obtain its privileges (such as misappropriation of margin, because the securities company blocked the customer's financial details, it can always come up with tricks to engage in the money of shareholders, especially after the securities company chairman moved this idea). In this way, the exchange of data between banks and securities companies is an important part of the digital flow of securities information.

I suddenly thought of some interesting ideas here specifically to emphasize:
A), and the business flow of the bank, in fact, the same as the counter system customer book function as the data registration and settlement link, belongs to the "liquidation" content category, and "transaction" is two different things. This is what I have repeatedly stressed.
B), our national securities companies do not separate individual clients and institutional clients completely. In banks, personal retail (savings Bank) and business banking (accounting business of sales offices) are completely different departments, using completely different business rules, IT systems are completely different. In the field of securities, a muddled account.
C), transaction-related business data exchange protocol, called "fix" in foreign countries, I believe many people have heard of fix. In fact, the reason why we do not have a similar fix in our country is because our country this kind of data exchange is too casual. The data interface business between software vendors is just some of the bottom-up programmers themselves. These interfaces are strange, and even employee job-hopping can lead to changes in the interface. There is China's software is not valuable, the standard agreement this kind of thing is to reduce costs, if you are already a manual workshop, it is necessary at a lower cost, because that is more expensive.
D), the swift agreement is a standard interface between foreign banks or between enterprises and banks to transfer funds. To our country has become a strange interface, each bank has so-called "enterprise electronic Banking", each bank in the securities company installed a variety of their handlers to take the skull to figure out the data interface, to achieve the electronic transfer of bank data.
E), China's retail investors too much, the institutions are also retail, trading frequently, a single trading model, securities companies are not independent innovation business Management development mode, regulatory agencies have never been assured that the securities companies themselves, so the operation of the Guide is incomparable rules, make everyone a kind, Everyone expects a set of IT systems to do everything automatically. The Gold Card (Hang Seng), also made them, they have become a business consultant.

How to find, said to run the problem, do not know where to fly.

Come back and talk about our trading system. Use a specific case to tell how the message is communicated.

Investors Lao Zhang saw PetroChina break, can no longer bear their own cost shrinkage, decided to toss 500 shares. He turned on the computer and ran the online commissioned software he had been using (called What is the new client software), enter the code, price, number of shares, and so on. The delegated data is packaged and sent to an Internet-based IP (seen in the online delegation software settings.) ）。 This IP may be physically in the hosting room of a telecommunications company in a high-tech campus in a big city, and this IP address is bound to a single NIC on a server. This server runs this online trading service-side software.
After accepting this packet, nuclear new company's online transaction processing program, and then forward the data to the Gold Card company's trading system of an AR program, the AR program by retrieving the local hard disk routing table, found that should be handed to the center of another AR program, so the data through the internal WAN came to the central room. (You can actually forward this request in countless AR rooms, as long as you're willing to bother configuring their routing table.) It sounds a bit like CCNA's online course. Yes, the forwarding of these application routes is in fact a justification for IP routing. ）
This aggregate AR re-analysis data request, found that the request to sell the stock, to an application server (as), the as through the requested function number to trigger the contract to a DLL file, the executable code, the request finally put in the Oracle database in the Entrust table.
Another offer, scanning every millisecond of this entrust table, once a new delegate is found, is immediately removed and written to the Exchange's interface table (possibly a file called order.dbf). The exchange's offer process is also constantly scanning the order.dbf table, once the new Commission is found, immediately through the DDN line to the Exchange Communications Center, know the exchange host.
Because of the kind of retail investors are born to seize the character weakness, he must be cut meat on the floor, mercilessly by the dealer eat chips. Deal.
OK, in turn, this data flow again. Late, tired, not much to write. Anyway Lao Zhang, saw his deal return. And immediately regretted that he had thrown the stock. If he hears a news broadcast at night that reduces the stamp duty, it means that the mood is too bad to go with his wife. (Why is this old Zhang so like me?!) ）

Woo ~ It's midnight again. Hopefully this logically confusing article will give you some sense of a little bit of sensibility about the counter trading system. 886.

(turn) information--4 of securities companies