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HSI Futures, Options Migrate to E-trading System
The Hong Kong Futures Exchange (HKFE) launched electronic trading of the Hang Seng Index (HSI) Futures and Options Monday, marking the beginning of a new era in the HKFE since its founding in 1976.
The migration of HSI Futures and Options to the Hong Kong Futures Automated Trading System (HKATS) ended the 24-year history of open outcry trading at the HKFE. All other HKFE products have been trading on HKATS since September 1997.
The advantages of the HKATS include a Compaq Alpha Server 1200 back-end that has processing power 10 times greater than the Exchange's original electronic trading system and higher bandwidth internal network with a transmission rate up to 200M Bit per second.
The electronic trading will bring about fairer price and quicker access, but it will take several weeks or months for the traders to get accustomed to the new system, said Chief Executive of the HKFE Frederick J. Grede at the launch ceremony.
Grede said the HKFE plans to provide more products, and serve not only the Hong Kong market but also the regional and international market.
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