Hong Kong Exchanges and Clearing Limited (HKEx) and OMX, the leading expert in the exchange technology industry, signed the support and maintenance agreement for HKEx's derivatives trading, and clearing and settlement systems – HKATS and DCASS – for another five years.
"OMX's technology has assisted HKEx to deliver efficient and reliable systems in supporting our derivatives market," said Paul Chow, Chief Executive of HKEx. "Furthermore, the technology system partnership with OMX allows HKEx to realise the advantages of global derivatives market technology advancement. I am confident that HKEx's joint efforts with OMX will continue to offer investors worldwide an effective and efficient marketplace for the trading, clearing and settlement of derivatives products in Hong Kong."
HKEx has been using OMX's technology solutions for its HKATS trading system for over 12 years since 1995. In 2004, HKEx deployed the OMX DCASS clearing and settlement system. Since then, HKEx has implemented an integrated platform for the trading, clearing and settlement of all derivatives products in Hong Kong. Chow said, "HKEx's scalable and robust technical infrastructure and IT operations, in conjunction with OMX's technology solutions, have enabled us to smoothly handle the rapid growth in our derivatives market, particularly in the past two years."
"Hong Kong Exchanges and Clearing is one of the world's largest markets with very high trading volumes and we are very proud to have them as a customer. We look forward to continue building our long-term partnership by delivering highly efficient systems and services", said Markus Gerdien, President, Market Technology, OMX.