The Hong Kong Futures Exchange (HKFE) has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to place HKATS (Hong Kong Futures Automated Trading System) terminals and automated order-routing systems connected to HKATS in the U.S., effective immediately.

As a result of the approval, affiliates of Exchange Participants that are properly registered in the U.S. or exempt from registration there will be able to use U.S. based automated order-routing systems connected to HKATS to trade the following products for proprietary or customer accounts: Hang Seng Index (HSI) Futures and Options, HIBOR (Hong Kong Interbank Offer Rate) futures and Rolling Forex. In addition, Participants would be able to enter orders directly through HKATS if the Exchange decides to make terminals with CLICK software available in the U.S.

"This approval will allow for the distribution of major HKFE products to investors in the U.S. through the OM Application Programming Interface (OAPI)," Chief Executive Frederick Grede said. "As a result, this effort, which was initiated by the Exchange in June of 1999, will enhance the distribution of our products in the U.S. and increase liquidity for all market users. Coming soon after the successful migration (of HSI Futures and Options to HKATS), this action positions the Exchange for significant international growth."

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