The Hong Kong Futures Exchange (HKFE) marked the end of an era today as the closing bell for the Hang Seng Index (HSI) Futures and Options markets signalled the end of floor trading at the HKFE. On Monday, HSI Futures and Options migrate to the HKFE's electronic trading system, HKATS (Hong Kong Futures Automated Trading System). All other HKFE products have been trading on HKATS since September 1997.

Chief Executive Frederick J. Grede rang today's closing bell and the Exchange held a reception after the HSI markets closed to honor floor traders and floor staff for their contributions to the Exchange.

"Floor trading has made a tremendous contribution to the development of the Hong Kong Futures Exchange," Mr. Grede said. "And the people who have worked on the floor over the years have played a key role in the success of the Exchange.

"I've spent my career around floor trading and there is nothing like it," Grede added. "But something better has come along and all the growth opportunities are now with electronic trading. This is the end of an era and a time of transition, but there are a lot more opportunities on the other side."

* Please note: A brief history of floor trading at the HKFE has been sent with this release.

For further enquiries, please contact HKFE Corporate Communications: Miss Chiu Yeung on 2842 9322 or Mr. Scott Sapp on 2842 9421.