Hong Kong Exchanges and Clearing Limited (HKEx) has upgraded the trading and clearing systems for its derivatives market.
The two systems to which changes have been made are HKATS (Hong Kong futures automatic trading system) and DCASS (derivatives clearing and settlement system).
HKEx has adopted Genium INET, a new technology platform that HKEx says will provide better performance and support the further development of the market.
The upgrade has multiplied the clearing and trading capacity of the systems, by equipping HKATS with ultra-low-latency trade processing capability and improving DCASS’ clearing processing by shortening batch running times.
The new platform also offers new functionalities such as a new trading function for investors to execute option strategies with multiple legs at one net price.
In addition to the derivatives market’s system upgrade to Genium INET, HKEx introduced the Orion market data platform at the end of September and is working on installing a central gateway for the securities market.
The upgrade is a further step in HKEx tech initiatives. It is part of HKEx’s “Orion” project, which last year witnessed the introduction of a new data centre, hosting services and SD/Net2, a low-latency network for trading, clearing and market data systems.