Friday's trading glitch at Everbright Securities in China has prompted the China Financial Futures Exchange to impose restrictions on the company's ability to establish fresh stock index futures throughout this Tuesday.

 

　　At the same time, the China Securities Regulatory Commission says it is launching a formal investigation into the case.

 

　　In addition, Everbright has been banned by the Shanghai securities authorities for conducting proprietary stock trades on the spot market for three months.

 

　　Everbright has also gone on record vowing any profits yielded from the massive index shorting on Friday will be dealt with legally.

 

　　Last Friday, Everbright Securities placed buy orders worth some 23-billion yuan due to an alleged system error.

 

　　This saw the Shanghai Stock Exchange increase by well over 5-percent in intra-day trading before giving up all the gains.

 

　　For more on the issue, we're joined live now by Mark Hughes, Executive Business Editor of China Daily.