AN E-COMMERCE APPLICATION IN CHINA
Yong Xu
School of e-Business, South China University of Technology, Guangzhou, 510006, P. R. China
Chin E. Lin
School of e-Business, South China University of Technology, Guangzhou, 510006, P. R. China
Keywords: Stock exchange, e-commerce system, short message service, pub
lic switched telephone network.
Abstract: This paper proposes a new stock-jobbing system named Stock-Master system which based on the SMS(Short
Message System) of PSTN. For the real-time Stock Exchange, this system expands the system and the
protocol of PSTN(Public Switched Telephone Network) SMS. It adds the trade module of CTSI(Chinese
Terminal Service Interface) server, operation trade gateway and professional CP(
Content Provider) system.
This system adopts the terminal ID（Identification）identification, encrypted 3DES, and the exclusive
connection serial number. All these techniques are used to ensure the security of the stock exchange. This
paper describes the frame, the physical topology structure, the function and the security design of this
system, and analyses its advantages and disadvantages in detailed.
1 INTRODUCTION
In recent years, many stockjobbers in China have
offered many stock-jobbing tools to promote stock
exchange convenience and elevate the operation
efficiency. Those tools are mostly developed based
on communication system for takeover bid using
telephone, network and PDA to assist the customer
in improving on takeover bid for easier and more
convenience operation.
Telephonic takeover bid system is a real time
syste
m with facility approved by most of stock
investors. However, investors have to stay in a long
time waiting to get a long-winded prompting
message to access. Such a system is a lower
efficiency.
The network takeover bid system and PDA
takeover
bid system are not easily and widely
accepted by investors due to their costs, network
bandwidth and availability, investor’s location and
capability in despite of its display text.
Aiming at such circumstance of stock market,
si
nce 2001, a new Stock-jobbing System based on
SMS of PSTN had been widely applied in China.
Terminals of the stock exchange system are not only
a telephone, but can also be treated as stock-jobbing
text display terminals for customers. All
stock-jobbing menu and instant information can be
displayed on terminal screen. Alternatively, the
terminals can also provide the investors or
customers to receive and send short stock message
and takeover bid message. The investors can
subscribe the message to master stock market trends.
The Stock-Master system also could push the
message subscribed by investor to his (her)
Stock-Master terminal from Internet or other media.
The new service offers a feasible concept to
adopt SMS in
PSTN to create a new way and easier
method to assist stock-jobbing for many stock
investors and customers.
2 SYSTEM FRAME
Stock-Master’s protocol is based on short message
industry standard by the Ministry of Information
Industry of China and Enterprise Standard of China
Telecom, referring to the international SMS
standard of ETSI (Europe Telecommunications
Standard Institute). For the system development,
the access program in the proposed Stock-Master
system is expanded form these reference protocols
177
Xu Y. and E. Lin C. (2006).
AN E-COMMERCE APPLICATION IN CHINA.
In Proceedings of the International Conference on e-Business, pages 177-181
Copyright
c
SciTePress
Figure 1: PSTN SMS system structure for case study.
and standards on real time demand of stock takeover
bid.
The propose system can support the standards or
protocols, such as CTSI (industry standard of
Ministry of Information Industry), EC protocol of
CTSI (Enterprise Standard of China Telecom),
SMPP(short message point to point), SMGP(short
message gateway protocol), RADIUS(Remote
Authentication Dial In User Service) and some other
national or industrial standards about PSTN in
China.
PSTN SMS system is constitutive of ten modules
as shown in Figure 1. They are FSK (Frequency
Shift Keying) Server, CTSI server, AAA
(Authentication, Authorization, and Accounting)
server, SMC (short message center) server, SMGW
(Short message gateway) server, terminal, database
server, maintenance node and service development
node. Physical configuration of the Stock-Master
system is different from the PSTN SMS. It should
add a business module of CTSI Server and a
professional service gateway module that could be
independent from or a member of the SMS gateway
and professional CP subsystem. The CP subsystem
is an EC service provider, such as stockjobber and
bank.
In Figure 1, the interface and protocol of the
Stock-Master system consist of two major
contributions of the significance. An expanded
SMPP between CTSI server and service gateway,
and an expanded SMGP between service gateway
and professional CP subsystem are added into the
original system to improve the overall operation.
Just because of these two improvements, the system
is able to adopt the real-time trade system for
stockjobbers, and to change the storage and
transmitting functions of SMS. The two
improvements is the most contribution for the
real-time Stock Exchange, and it is also the soul of
Stock-Master system.
To make the K curve showed in the terminal of
Stock-Master real-time, the system expands the
CTSI protocol, which increases a transmitting order
for the operation data. The operation data are
defined.
Table 1: The define of operation data filed.
Field A=Order code: B1
Field B=Length: the real data length
Field C=Sign: 0(invariable)
Field D=Parts number: 0xFE represents the
transmission of operation data. This part does not
exist actually, and the data processing depends on
the special operation type.
Field E=The format of data parameter
Table 2: The format of data parameter data filed.
Field A1=Operation type: represents different
operations.
Field B1=Operation subtype: represents the
different types of data in the operation
Field C1=Data length: the length of the operation
data
Field D1=Operation data: formats of the
operation data differs according to different
operations.
The definition of the operation types (Field A1)
of Stock-Master in the corresponding information
downloading order:
Stock-Master operation type (Field A1) is
defined as 0x01
Operation subtypes (Field B1) are:
Length
( Byte)
1 1 1 1 Variable
length
Content A B C D E
Length
(Byte)
1 1 1 ≤240
Content A1 B1 C1 D1
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Table 3: The filed define of Curve K paragraph data.
A2 B2 C2 D2 E2
F21（5B） F22（5B）
F2n（5B）
G21(4B) G22(4B) G23(4B) … G2n(4B)
Table 4: Fields define of dealing count.
0x01—stock name 0x02—stock code
L(1B) B3
C3（5B） D3（5B）
0x03—stock title 0x04—K curve paragraph
E31(1B) E32(1B) … E3n(1B)
0x06—dealing count
L: length of the dealing count data
0x07——average curve、trend paragraph
Field B3=type of deal count (1B): binary, 0=the
deal count on curve K, 1=the deal count on trend
curve
0x08——real-time trend paragraph
Curse K paragraph data(Field D1=0x04):
definition of the data format is as follows in table3
Field C3=the highest point in the area of
coordinates: symbolizes the highest value in the area
of coordinates. It takes up 5 bits of ASCII. Usually
the unit is 100 stocks, and it has no radix point.
The significations of each field in table3 are:
Field A2=length: the total amount of bytes
expects this one.
Field B2=the type of curve K (1B): binary value
1=5minutes, 2=15minutes, 3=30minutes, 4=day,
5=week, 6=month;
Field D3= the lowest point in the area of
coordinates: the representation is ibid.
Field E31~E3n=deal number: b7=0 represents
broken line, b7=1 represents real line, the last 7
bytes represents the height h
Field C2=start the date of curve K (3B): the first
byte represents the year (0-99), the second byte
represents the month (1-12), while the third
represents the data (1-31). The decimal number 100
is the module of year. The three bytes are all binary
code.)
In general, to compose a curve K paragraph,
the orders should be transmitted to the terminal
orderly via CTSI server. The terminal identifies the
orders according to the protocols above, and draws
the whole curve K in the screen.
Field D2=end the date of curve K (3B): the first
byte represents the year (0-99), the second byte
represents the month (1-12), while the third
represents the data (1-31). The decimal number 100
is the module of year. The three bytes are all binary
code.
For other curves: real-time stock quotations
paragraph can be expanded similarly, so all kinds of
stock curves can be displayed on the terminal. The
following two paragraphs in figure2 are the curve K
paragraph and the real-time trend paragraph.
Field E2=the dot number on the coordinate: it
represents the dot number on the y-axis, and usually
the neighborhood size is equal. So the dots on the
coordinate are not too much. When the high four
bytes is 0000, curve K represents the stock, while
1000 represents it is exponential.
Field F21~F2n =coordinate value: 5 bytes,
denoted by ASCII. The radix point also takes up one
byte. The decimal format is like that “xx .xx”or
“xxx .x”, and the exponential format is like “x.xEx”
and so on.
Figure 2: Curve K and Real-time Trend Paragraph.
3 SECURITY MEASURE
Field G21~G2n=curve K. curve K is denoted by
4 bytes. Each curve has fixed width (4 points), the
highest bit of ha is b7. When b7 is 0, it represents the
curve is a broken line; while 1 represents the real
line.
There are many kinds of encrypt arithmetic.
Considering the terminal’s operational ability of
CPU, this system uses the 8bits or the 16bits CPU,
and adopts the 3DES for the encryption of data.
During the tests, we find that it only takes 350 ms to
encrypt the stock account and the password when
using the 8 bits CPU.
The fields of the dealing count curve (Field
Operation subtype is 0x04) are defined as:
3DES has a 112 -bit-long encrypt key which is
AN E-COMMERCE APPLICATION IN CHINA
179
used to encrypt the 64-bit-long data. The arithmetic
of 3DES has a high speed, and it overcomes the
disadvantages of DES whose encrypt key is only 56
bits long.
The CTSI server will inquire the terminal ID
numbers to decide whether it is Stock-Master
terminal, or whether it contains the encryption
function. If positive, the server generates a 16 bite
unique serial number to establish the connection.
The Stock-Master terminal ID which includes the
information of stock-jobbers that such information
is unique in the process. Each stockjobber has his
own information which is different from the others.
The Stock-Master terminal can keep the
information from expose to the others at the same
time.
4 SYSTEM ANALYSES
While the specialized CP system of the
stockjobbers is connected, the CTSI server can
directly perform better access than the preliminary
one. For security concerns to the accounts, the
cryptograms of the stock investors and the key data
of operation are encrypted by the proposed
Stock-Master system through ID recognition,
encryption and others. This kind of system has
better security quality. It solves the security
problems, and accomplishes the requirement to
meet the national standards.
The technique of graphic display is embedded
into the proposed Stock-Master terminals for stock
information inquiry through the real time curve line
displayed. This system has more direct and
convenient functions than the telephonic takeover
bid system by applies the FSK modulation and
expanding its protocol from the traditional fixed
network telephone calls. The result enables to
display the stock curve in real time.
The swift key operation promotes the
stock-investors to catch up with time. The utilization
of swift key is recognized as a main contribution of
the proposed system by the stockjobbers after
practical tests.
The proposed Stock-Master system is combined
with the stock-jobbers and the information providers
together in different kinds of business through the
business gateway, telecom gateway, and operator
service departments. The plat of the proposed
Stock-Master system achieves function capability
and conveys its business service to the information
terminals.
The proposed Stock-Master terminal adds visible
display on the conventional telephone, which can
refresh the stockjobbers and provide convenient
operation. The proposed system offers an easier and
convenient solution. The convenience of application
is an important factor in promotion. The
conventional telephonic takeover bid system can be
transformed into the proposed Stock-Master system
easily.
From the above analyses, the advantages of the
proposed Stock-Master system can support potential
improvement in stock exchange.
5 CONCLUSION
The proposed Stock-Master system provides a new
stock-jobbing e-commerce system. It utilizes the
feature that the stock investors are also the
customers of telecom operators, and takes
advantage of the stockjobber and the telecom
operators. The proposed system has many
advantages of easy operation, high security and real
time performance. The proposed system takes the
convenience of operation into account, and enables
the stock investors to trade in and off at a lower
cost. It is a simple aspect of stock-jobbing EC
system, and suitable for promotion in stockjobbers
as a tool in stock exchange using telecom.
From our preliminary tests and analyses, the
proposed Stock-Master system is a feasible and
rational design to improve the stock exchange by
adopting advanced technology as to create
convenient system in practice. The proposed
system is potential for easy promotion into wide
application in stock exchange e-commerce system.
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