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Stabilisation Period Following the Implementation of AMS/3.8 Concludes

Market Operations
16 Dec 2011

Hong Kong Exchanges and Clearing Limited (HKEx) announced today (Friday) that the stabilisation period for its upgraded securities market trading system, AMS/3.8, has been completed.

The two-week stabilisation period, which began when AMS/3.8 was rolled out on 5 December this year, was a prudent measure to ensure that HKEx, Exchange Participants (EPs) and Information Vendors (IVs) were prepared in the unlikely event that fallback arrangements had to be triggered after the upgrade.  AMS/3.8 has been operating smoothly and successfully so no fallback arrangements were required during the stabilisation period.

As a result of the upgrade, the trading system’s processing capacity has been increased by about 10-fold to 30,000 orders per second, scalable to 150,000 orders per second, and latency has been reduced to 2 milliseconds on an average trading day, about 70 times faster than before.  AMS/3.8 processed an average of 7 million orders and 716,000 trades a day over the past two weeks, and the average host processing latency was 1.5 milliseconds.

Market transparency has been enhanced as AMS/3.8 displays the 10 best price levels compared to the five best price levels in the previous trading system, AMS/3.5.  In addition, the market data broadcast rate has doubled from 1,000 to 2,000 stock page updates per second and some legacy system functions have been streamlined to improve EPs’ operational efficiency.

HKEx would like to thank EPs and IVs for their support during the rollout of AMS/3.8.


Ends

Updated 16 Dec 2011

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