Trading communications company IPC Systems, has extended its pan-Asian financial optical network with connectivity to Hong Kong Exchanges and Clearing (HKEx), the holding company for The Stock Exchange of Hong Kong, Hong Kong Futures Exchange and Hong Kong Securities Clearing Company.
Users of IPC's Electronic Connectivity Services will be able to access equities, exchange traded funds as well as derivatives products such as Hang Seng Index futures and options using a direct low-latency connection.
According to the World Federation of Exchanges, HKEx's was the world's tenth biggest stock exchange in 2010, in terms of value of share trading on its electronic order book, with US$1.496 trillion, a rise of 5.7% on 2009. HKEx is currently in the process of realising a three-year plan set out by chief executive Charles Li, in March 2010, which has included the introduction of co-location facilities in November 2010 and the development of a new trading platform, due to be launched by the end of 2011. The firm is also preparing for the listing and trading of renminbi denominated transactions as the internationalisation of the Chinese currency gains traction.
“Extending our global connectivity by working with major trading communications partners such as IPC will be crucial in bringing new trading partners to our venue, and positioning Hong Kong and HKEx as the ideal destination for international traders keen to take advantage of our connectivity within Asia,” said Li.
The move is part of IPC's network connectivity expansion programme across the Asia Pacific region. The firm added connectivity to Japanese derivatives venue Tokyo Financial Exchange, in March 2011, which became the first Japanese exchange to admit trading membership of overseas investors in September 2010. IPC also connected to the Korea Exchange in February.
To support its Asia-Pacific operations, IPC now has 12 offices across the region, providing sales, implementation, integration and support services for its trading floor communications solutions and enhanced services.