Source: Hong Kong Exchanges and Clearing
Hong Kong Exchanges and Clearing Limited (HKEx) announces today (Monday) that the software for the trading system and the clearing and settlement system used in its derivatives market will be upgraded to Release 19.1 on 3 March 2008 (Monday).
The Hong Kong Futures Automated Trading System (HKATS) and the Derivatives Clearing and Settlement System (DCASS) currently use the Release 17.1 software product supplied by OMX in Sweden and have done so since October 2003 and April 2004 respectively.
The forthcoming upgrade to Release 19.1 will allow HKEx to leverage the new functional and technical capabilities of the upgraded software for the further development of its derivatives market. The implementation of Release 19.1 will also align HKATS and DCASS with the OMX product support roadmap to secure quality support from the software supplier and safeguard the reliability and stability of HKEx's derivatives trading and clearing platform.
The rollout date was set after a series of market briefings and two rounds of rehearsals. Exchange Participants, Clearing Participants and information vendors of the derivatives market have confirmed their readiness to support the Release 19.1 software.
As a prudent measure, a two-week stabilisation period will begin on 3 March when the HKATS and DCASS software are upgraded. During the stabilisation period, arrangements will be in place for an unlikely event requiring fallback to the Release 17.1 software.