HKEx plots derivatives upgrade with Nasdaq OMX
Hong Kong Exchanges and Clearing (HKEx) will install a new Nasdaq OMX-supplied platform next year to support its derivatives market.
Q4 2013 HKEx will update its HKATS trading engine and DCASS clearing system to
Nasdaq OMX’s Genium INET technology.
The agreement included a five-year extension of an existing support contract that
HKEx has with the US exchange operator. HKEx has used Nasdaq OMX technology to
support its derivatives market since 1994.
new platform will support trading and clearing of stock futures and options,
currency futures, interest rate futures, fixed income futures, commodity
futures, volatility index futures and dividend futures. It will also offer
microsecond latency and throughput improvements, according to Nasdaq OMX.
adoption of the Genium INET technology will move our long and fruitful
partnership with Nasdaq OMX into the next phase and strengthen the global
competitiveness of the Hong Kong capital market,” said Bill Chow, chief technology
officer at HKEx.
Hong Kong exchange has identified improvements to technology as one of the key
priorities in its three-year plan that was initiated in March 2010.
March 2012, HKEx unveiled Orion, a US$380 million technology improvement
programme that included the development of a new data centre at Hong Kong’s
Tseung Kwan O industrial estate and improvements to connectivity and market
data. The bourse also upgraded its proprietary equities trading platform at the end of last year.