Electronic trading at the Hong Kong Futures Exchange
Market Operations
05 Jun 2000
| Nov. 1995 |
Electronic trading introduced on ATS (Automated Trading System). (Rolling Forex - a currency futures product - was the first product traded on ATS. Rolling Forex was introduced as a screen-traded product; it was never traded on the floor.) |
| Sep. 1997 |
HIBOR futures migrated to ATS. Hang Seng Index (HSI) Futures and Options became the only two products not traded electronically. |
| Dec. 1997 |
Board decided that the Exchange should become fully electronic. |
| Apr. 1999 |
HKATS (Hong Kong Futures Automated Trading System) replaced ATS as part of preparations for migration of HSI Futures and Options to HKATS. |
| May 22, 2000 |
HKATS software upgraded for HSI Futures and Options migration. |
| June 5, 2000 |
HKFE becomes fully electronic with the migration of HSI Futures and Options to HKATS. |
Market participants' comments on the first day of HSI Futures and Options trading on HKATS:
"Customer feedback from the first day of electronic trading has been very positive, trading is faster, more efficient. Some customers were sceptical before the migration but they feel comfortable now with electronic trading."
Eugene Law - COO, Celestial
"(HSI) Index options are trading very well on the electronic platform. Now you can really see where the market is and act swiftly."
Gilbert Langner - Director, Timber Hill
"Customers are very satisfied and trading is much faster. We did more than two times normal business today."
Sammy Lo - Dealing Director, ASG Futures