Orion Derivatives Platform

Overview

ODP is a market-leading platform under development by HKEX that will deliver greater flexibility, consistency and efficiency to derivatives market clients.

ODP is part of our technology advancement journey to position our business and our markets for the future. Through the use of modular architecture, ODP will enable HKEX to enhance service offerings and more rapidly respond to the needs of our international client base.

ODP underscores our commitment to driving innovation in our markets, cementing Hong Kong’s role as Asia’s risk management centre and an IFC.

Richard Leung

Group Chief Information Officer, HKEX

Platform Benefits

When completed, the ODP platform will deliver a range of benefits.

Technical
Excellence

Creating a best-in-class, data-rich and reliable technology platform

Capital
Efficiencies

Offering capital-efficient risk models aligned with international practices

Agility for
Growth

Capturing unique market opportunities, delivering timely, tailored solutions and offering flexibility for new asset classes

Smooth, Orderly Transition

Providing backward compatibility for market participants

HKEX’s Technology Journey: Precision Engineering

In this podcast, HKEX’s Group Chief Information Officer Richard Leung and Group Chief Technology Officer John Hsu take us through HKEX’s technology journey, discussing why we are making long-term investments in our market infrastructure.

Listen to the podcast

ODP enables us to better support our clients’ needs, unlock operational efficiencies and connect global opportunities, elevating HKEX’s competitiveness as a global exchange.

John Hsu

Group Chief Technology Officer, HKEX

Timeline

We aim to materially complete development in 2026, reach technical readiness by 2027 and roll out to market in 2027 and 2028 in phases to ensure a smooth transition.

FAQ

What is ODP?

How will this transition impact our market participants?

Where can I find updates about the ODP enhancements? 

Latest Updates

HKEX hosted the first Orion Derivatives Platform (ODP) Townhall on Wednesday, 6 August 2025 at HKEX Connect Hall. There were around 200 guests attended, including Exchange Participants (EP), Options Trading Exchange Participants (OTEP), Clearing Participants (CP), their software vendors, industry bodies and regulator.

The session covered the ODP overview, timeline, roadmap, and introduced the API specifications and ODP Preview Paper. For details, refer to the Resources section or contact odp_support@hkex.com.hk.

Resources

ODP Overview

Briefing Materials

Technical Documents

Circulars

News and Insights

Contact

For further information about the Orion Derivatives Platform, please contact us: odp_support@hkex.com.hk