Closer Look: No Rewind Button for Everbright Securities

The Everbright Securities trading error, which led to a jaw-dropping A-share spike on August 16, has left many questions unanswered. At the core of this is the company's risk control system.

An investigation report released August 18 by the China Securities Regulatory Commission and an internal review from Everbright offered the following explanation for the incident: a malfunction in Everbright's internal proprietary trading system triggered the placement of unintended 'buy' orders totaling 23.4 billion yuan, of which 7.27 billion yuan was actually traded.