Hong Kong Exchanges and Clearing Limited (HKEx) has enhanced its securities market trading system, AMS/3 (Third Generation of the Automatic Order Matching and Execution System) following the successful completion of weekend market rehearsals. The changes will improve Exchange Participants’ efficiency and the order input capacity in AMS/3.
“These changes demonstrate our commitment to ensuring our major market systems are robust and reliable, and that our trading facilities continue to meet the needs of our customers,” said HKEx Deputy Chief Operating Officer Gerald Greiner, who is also Head of the Exchange Division.
During the rehearsals, a volume test was also conducted to verify that AMS/3 has the capacity to handle further rises in order and trade volume from current levels.
“The volume test verified that AMS/3 is capable of handling 1.5 million trades in a trading day within the benchmark response time*,” said Alfred Wong, HKEx’s Chief Technology Officer and Head of Information Technology.
“The rehearsal also provided an opportunity for Exchange Participants with Broker Supplied System (BSS)# and information vendors to verify the capacity and performance of their systems and associated infrastructure under high market activity and ascertain their readiness for further growth in trading volume,” Mr Wong added. “The readiness of the intermediaries’ systems is important because their performance will directly affect their services to investors.”
A large majority of Exchange Participants using BSS and all information vendors maintaining direct connections with HKEx participated in the weekend market rehearsals.
“Exchange Participants have demonstrated a high degree of professionalism and commitment in the market rehearsals. HKEx thanks them for their efforts and we look forward to their continued support," Mr Greiner said.