On February 20, Ningbo Lingjun Investment Management Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Lingjun") was punished by the Shanghai and Shenzhen Stock Exchanges for automatically generating trading instructions through computer programs and placing a large number of orders in a short period of time due to the automatic generation of trading instructions through computer programs for multiple ** accounts under its name. It is reported that the Shanghai and Shenzhen stock exchanges have restricted Ningbo Lingjun's trading and launched a public censure procedure.According to the report of the Shanghai and Shenzhen Stock Exchanges, from 9:30:00 to 9:31:00 on February 19, multiple product accounts managed by Ningbo Lingjun sold a large number of Shanghai market **, selling a total of 119.5 billion yuan, accounting for a relatively high proportion of market turnover during the period, during which the Shanghai Composite Index increased from 288659 points** to 286807 points, down 065%；From 9:30:00 to 9:30:42 on February 19, a number of ** accounts under the name of Ningbo Lingjun automatically generated trading instructions through computer programs, placed a large number of orders in a short period of time, and sold a total of 137.2 billion yuan, during which the Shenzhen Stock Exchange Component Index fell rapidly.
*From the WeChat official account "Shanghai Stock Exchange Release".
*From the WeChat official account "Shenzhen Stock Exchange".
The Shanghai and Shenzhen Stock Exchanges believe that Ningbo Lingjun's relevant behavior has seriously affected the normal trading order, and decided to take trading restrictions on the relevant ** accounts under the name of Ningbo Lingjun from February 20 to February 22, restricting them from trading all ** listed on the Exchange during the above period, and initiating the procedure of public reprimand and disciplinary punishment against Ningbo Lingjun.
In response to this matter, the Shanghai Stock Exchange said that it will adhere to the main responsibility and main business of supervision in accordance with the deployment requirements of the China Securities Regulatory Commission, adhere to the investor-oriented, and strictly manage violations of laws and regulations that affect the smooth operation of the market and damage the legitimate rights and interests of investors. At the same time, investors are reminded to trade in accordance with laws and regulations, and jointly maintain the normal trading order of the market.
The Shenzhen Stock Exchange said that it will follow the unified deployment of the China Securities Regulatory Commission, resolutely implement the requirements of "long teeth and thorns" and angular supervision, adhere to the main responsibility and main business of supervision, continue to strengthen transaction supervision, and always maintain a strict tone and a high-pressure posture of "zero tolerance" for violations of laws and regulations that affect the normal trading order of the market and damage the legitimate rights and interests of investors, and respond quickly and strike hard. At the same time, investors are reminded to participate in transactions in accordance with laws and regulations, and jointly maintain the normal trading order of the market.
*From the "Shenzhen ** Exchange Trading Rules".
Lingjun Investment is one of the well-known quantitative private equity giants in China. Founded in June 2014, Ningbo Lingjun is a private equity management institution focusing on quantitative investment, and is a private equity investment manager (registration number P1004526) registered in China Investment Industry Association and a member of the association. Since its establishment, it has won more than 100 top private equity honors in the industry, such as the "Golden Bull Award" of "China ** News" and the "Yinghua Award" of China ** News for many consecutive years.
It is reported that Ningbo Lingjun has exceeded 10 billion yuan in 2018, and the asset management scale has exceeded 60 billion yuan by 2022.
In addition, Ningbo Lingjun ranked first in the "Private Equity Star 2024-01 National Scale of More than 10 Billion Yuan** and Derivatives Strategic Income List" of the private placement network.
Integration: Nandu reporter Shi Li.