More detail has been revealed regarding the Hong Kong Exchanges’s (HKEx) new Orion Central Gateway, which will provide faster broker access and greater capacity for hosting services.
To drive the Orion Central Gateway, HKEx has selected Millennium SOR, a multi-asset class platform from the London Stock Exchange Group’s technology subsidiary, MillenniumIT.
In August, the exchange confirmed a launch date of Q4 2013 for Orion, with the first phase of relocation to the firm’s new data centre on track to be completed by the end of this year.
So that brokers can migrate at their own pace, the bourse said the new gateway will be introduced in parallel with HKEx’s existing access infrastructure, and the existing architecture will remain in operation until at least 2015.
The new ultra-low latency and high throughput platform will give brokers the choice of a binary interface or standard FIX 5.0 interface. It is hoped the implementation will simplify HKEx’s market access architecture, with brokers able to reduce infrastructure costs to access HKEx’s securities market systems by consolidating telecommunication circuits and eliminating physical hardware in their premises.
“The HKEx Orion Central Gateway is a further step in our aim to provide a more efficient trading infrastructure for our trading community, and to boost competitiveness for the overall Hong Kong market,” said Julian Ragless, senior vice president of platform development and strategy at HKEx.