To all participants concerned,
The Shanghai Futures Exchange (SHFE) will conduct the market-wide test of level-2 market data on August 12, 2023 (Saturday）. SHFE plans to formally release the real-time level-2 market data (4 snapshots per second at price depth of 5 best bid/asks) on the first trading day of 2024 after a four-month trial from August 28, 2023 (starting from the night session of continuous trading on August 25) to the end of 2023. Please take note of the following matters:
1. Licensed users that have completed SHFE level-2 system connections are requested to make the necessary preparations for the test.
2. Users planning to apply for access to the SHFE level-2 market data are requested to make preparations in accordance with the attached guidelines.
Technical contact: Mr. Xiong Tel: 021-68400918
Business contact: Mrs. Liu Tel: 021-68400929
Email: marketdata@shfe.com.cn
Attachments:
1. Test Guide for Level-2 Market Data System
2. SHFE Application Guidelines for Non-Display Use of Level-2 Market Data in Designated Server Rooms

Shanghai Futures Exchange
August 11, 2023