23 September 2017
visit www.avoka.com

HKEx embarks on US$380m tech overhaul

28 March 2012  |  4767 views  |  0 Hong Kong Conf Centre

Hong Kong Exchanges and Clearing (HKEx) is betting US$380 million on a three year technology programme designed to boost the island's standing on the world's financial stage.

The bourse says its HKEx Orion programme will revolutionise its core trading platforms, covering connectivity networks, a state-of-the-art data centre and systems providing order matching, market data dissemination and market access services.

The new infrastructure and platforms will be implemented in stages over the next three years at a cost of HK$3 billion. Work on the data centre - which will support up to 1200 racks with a total power load of 8MW, making it the highest capacity service offered by any exchange in Asia-Pacific - is already underway.

Meanwhile, the hosting services, enabling participants to co-locate their systems next to HKEx's core platforms for low latency, will be launched at the end of the year. New market data services will be rolled out in 2013, with other platforms to follow.

Charles Li, chief executive, HKEx, says: "Hong Kong is part of a global and very competitive financial system, and technology drives financial markets. HKEx is investing in technology initiatives to ensure Hong Kong retains and strengthens its position as a leading financial centre. This investment will enable us to face increasing competition from other exchanges in Asia and around the world, and will be a platform to drive our future growth.

"We also aim to create an environment where brokers, technology suppliers, information vendors and network service providers can gain synergies and efficiencies by working together in an efficient ecosystem."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

HKEx poaches Chi-X Global CTO

HKEx poaches Chi-X Global CTO

22 September 2011  |  6731 views  |  0 comments
HKEx Web site hit by hackers

HKEx Web site hit by hackers

10 August 2011  |  7384 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.temenos.comvisit www.vasco.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13086 views comments | 27 tweets | 42 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
9105 views comments | 13 tweets | 27 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8457 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8076 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
7852 views comments | 31 tweets | 45 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job