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HKEX Sets Launch Date for New Securities Trading System

Market Operations
23 Jan 2018

  • OTP-C will replace AMS/3.8 on Monday, 5 February
  • New system to initially support up to 60,000 order transactions per second
  • OTP-C completes a major investment programme to transform HKEX’s securities market infrastructure

 

Hong Kong Exchanges and Clearing Limited (HKEX) will introduce its new securities trading system for the Hong Kong market, the Orion Trading Platform - Securities Market (OTP-C), on Monday, 5 February 2018, replacing the current AMS/3.8 system, an upgraded version of the AMS/3 system rolled out in 2000.

The rollout of OTP-C was confirmed after successful completion of market rehearsals and Exchange Participants’ (EPs) confirmation of their readiness.

The launch will mark the final phase of the Hong Kong securities market infrastructure’s transformation to support new business and meet capacity requirements in the next decade.

OTP-C is a scalable high performance system based on open systems technology that gives it flexibility to support a variety of new functionalities.  The system is designed to initially support up to 60,000 order transactions per second, up 100 per cent compared with AMS/3.8, with scope for further increases.

“OTP-C has demonstrated its readiness following a comprehensive preparation process that was closely monitored by the Securities and Futures Commission and the Stock Exchange.  We thank all EPs, as the market rehearsals would not have been successful without their cooperation and support,” said Roger Lee, HKEX’s Joint Chief Operating Officer and Head of Markets.

“We conducted exhaustive testing ourselves and with the market to ensure we delivered a system that is reliable, resilient and efficient,” said Richard Leung, HKEX’s Deputy Group Chief Information Officer and Chief Technology Officer Hong Kong.  “As a prudent measure, there will be a two-week stabilisation period from 5 to 15 February, during which fallback procedures will be in place to allow us to return to AMS/3.8 in the unlikely event we need to do so.”

OTP-C is the final phase of a major investment to transform HKEX’s market infrastructure. The programme began in 2012 and has included building a world-class data centre and networks, as well as upgrading the core trading infrastructure. 

 

Ends

Updated 23 Jan 2018

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