This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Hong Kong Exchanges & Clearing (HKEx) Goes Live With NASDAQ OMX's Genium INET Trading & Clearing Platform

NEW YORK and HONG KONG, Nov. 6, 2013 (GLOBE NEWSWIRE) -- Hong Kong Exchanges and Clearing Limited (HKEx) announced the successful launch of NASDAQ OMX's (Nasdaq:NDAQ)  trading and clearing exchange technology platform, Genium INET, for HKEx's derivatives market. The launch, which occurred in mid-October, was a full month-and-a-half ahead of the original planned roll-out schedule.

"A key factor in making our launch successful was the ability to establish a true partnership with NASDAQ OMX," said Bill Chow, Chief Technology Officer, HKEx. "The new project methodology with early joint testing proved to be highly effective and an important element in the delivery approach, resulting in high quality and close collaboration between the delivery teams. This ultimately contributed to shortening the time to market. We are very proud of this launch."

The system upgrade multiplied the clearing and trading capacity, equipped the Hong Kong Futures Automatic Trading System (HKATS) with ultra-low-latency trade processing capability and improved Derivatives Clearing and Settlement System's (DCASS) clearing processing by shortening batch running times. Additionally, new central gateways for exchange and clearing participants were introduced to reduce the hardware footprint and network bandwidth requirements at participants' premises. The new platform also offers new functionalities such as Tailor-Made Combination (TMC) orders, a new trading function for investors to execute option strategies with multiple legs at one net price, with auto-matching capability.

"We are very proud of this significant launch and delivery in both the major technology improvements to HKEx derivatives market systems and developing true teamwork between the two organizations leveraging our new Genium project methodology," said Lars Ottersgård, Senior Vice President, Market Technology, NASDAQ OMX. "HKEx is one of the largest and most advanced financial markets in the world and growing. HKEx, its participants and investors will enjoy a significant performance and capacity boost from our Genium INET technology, and it has been a true pleasure supporting HKEx's technology initiatives."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs