The Hong Kong Futures Exchange (HKFE) said today that it has decided to set a new date for the upgrading of its Automated Trading System (ATS) from OMex version 12.6 software to OMex version 15.2 to accommodate the Hong Kong futures and securities industries' street-wide Y2K tests.

The new date also allows further analysis of the Exchange's regression testing and will help the Exchange ensure the smooth operation of the upgraded ATS system when it is in place.

The Exchange will confirm the new upgrade date - it will be 7 April at the earliest - with Members next week. It had been set for 15 March.

The system-wide simulated trading session in the ATS environment operating on OMex 15.2 software set for tomorrow, 10 March will proceed as scheduled.

The following Exchange products, which are currently trading on the ATS, will move to the upgraded system on the new date: Red-Chip Futures and Options, HS 100 Futures and Options, HKFE Taiwan Index Futures and Options, One-Month HIBOR Futures, Three-Month HIBOR Futures, stock futures and Rolling Forex. And the Exchange's flagship HSI Futures and Options products, which are scheduled to migrate to the ATS in May and June respectively, are expected to make their electronic trading debut on the upgraded system.

HSI Futures accounted for 79% of the Exchange's total turnover in January of this year and HSI Options accounted for another 11%.

The Hong Kong Futures Exchange is a leading futures and options marketplace in the Asia Pacific Region, with a membership of over 130 companies, including a number of major international institutions. The Exchange is actively diversifying its product base, which now includes currency, interest rate and equity-based products.

For further enquiries, please contact HKFE Corporate Communications Manager Miss Chiu Yeung on 2842 9322.