HKEX unveils plans to boost bourse's market infrastructure

The new securities trading system, which will launch in February, can support 60,000 transactions per second.

The Hong Kong Exchanges and Clearing Limited (HKEX) has unveiled a series of initiatives and major trading system changes designed to enhance the bourse’s overall market infrastructure and boost its competitiveness in the global arena.

According to a press release, this includes the launch of the new securities trading platform, the Orion Trading Platform – Securities Market (OTP-C), which is set to replace the current AMS/3.8 system on February 5.

OTP-C is a high-performance system powered by open systems technology that can handle as much as 60,000 transactions per second – up by 100% compared with the capabilities of AMS/3.8.

Moreover, the inclusion of equity index option contracts to after-hours derivatives trading and the introduction of an investor identification regime for Northbound trading under Stock Connect is slated to be launched in second and third quarter respectively.

HKEX has also expressed its commitment to continuously upgrade its trading and clearing systems for derivatives and work on new margining model that will deliver stronger protection at lower market costs.

This comes amidst a major listing regime reform when the HKEX moved to widen its listing by allowing companies from innovative sectors to list on the Main Board and revising requirements for secondary listings.

“We had a fantastic 2017, but many of the accomplishments were the result of our hard work a few years ago. As we reap the rewards from our earlier efforts, we have to plant for future harvests,” said HKEX Chief Executive Charles Li.

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