The Stock Exchange of Hong Kong will conduct two more market rehearsals for Exchange Participants for the Third Generation Automatic Order Matching and Execution System (AMS/3) in order to ensure the highest standard of system performance.

The market rehearsals are tentatively scheduled for 7/8 October, and 14 October. The first market rehearsal will involve the fallback to AMS/3 backup system. Mocked trading under normal business circumstances will be rehearsed in the second market rehearsal. Detailed arrangements for the two market rehearsals will be announced to Exchange Participants shortly.

The four market rehearsals held in the past four consecutive weekends were completed with generally satisfactory results, but a number of minor technical issues have been identified. The technical issues were largely related to slow system response during traders' bulk order cancellation operation and in the market data update of the Multi-workstation System under extremely heavy trading situations. A delay in re-connecting about 80 terminals to the AMS/3 backup system was also identified at the third market rehearsal.

The Stock Exchange is addressing these technical issues and fine-tuning the system this week. It will conduct internal tests on 30 September to verify that all technical issues have been addressed satisfactorily.

Mr Lawrence Fok, Chief Executive of the Stock Exchange, said: "The Stock Exchange will decide whether further market readiness activities are needed in the light of the results of the two further market rehearsals."

"The four market rehearsals were generally smooth and satisfactory results were achieved. Exchange Participants have demonstrated a high degree of professionalism and commitment in the market rehearsals. I thank them for their devoted efforts and I look forward to their continuous support in the further rehearsals," he added.

Results of all market rehearsals have been reported to the Securities and Futures Commission.