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HKATS Upgrade to OMex 17.1 Media Briefing 提升 HKATS 電子交易系統軟件至 OMex 17.1 傳媒簡布會

HKATS Upgrade to OMex 17.1 Media Briefing 提升 HKATS 電子交易系統軟件至 OMex 17.1 傳媒簡布會. 24 -09- 2003. Agenda. Introduction Objectives & Benefits Project Overview External Test Programme Results of Simulated Trading Rehearsal (STR) Fallback Contingency Plan Q & A. Introduction.

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HKATS Upgrade to OMex 17.1 Media Briefing 提升 HKATS 電子交易系統軟件至 OMex 17.1 傳媒簡布會

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  1. HKATS Upgrade to OMex 17.1 Media Briefing提升HKATS電子交易系統軟件至OMex 17.1傳媒簡布會 24-09-2003

  2. Agenda • Introduction • Objectives & Benefits • Project Overview • External Test Programme • Results of Simulated Trading Rehearsal (STR) • Fallback Contingency Plan • Q & A

  3. Introduction • Hong Kong Futures Automated Trading System’s (HKATS) OMex System Upgrade • From Ver. 15.2 to Ver. 17.1 DC • Previous Upgrade • January 2002 • Software upgrade from Click 3 to Click 5 • Prerequisite for DCASS, Derivatives Clearing and Settlement System

  4. Objectives • Improve infrastructure of the derivatives market • Higher performance • Higher efficiencies • Prerequisite for implementation of DCASS

  5. Benefits • Erroneous Order Protection • Availability of Central Order Size Limit • Default account by instrument type • Customised Tick Size • Compatibility with DCASS for an integrated trading & clearing operation • Others

  6. Project Overview • Requirement Analysis Completed (Nov. 02) • System Development Completed (Apr. 03) • Internal Testing Completed (May ~Jun. 03) • Test contents reviewed by an Completed (Jul. 03) independent third party • External Testing Completed (Aug. ~ Sep. 03) • OMex System17.1 DC Go-Live 6 October 2003

  7. External Test Programme • 2 Production Readiness Tests (PRT); • 9 August 2003 : 1st PRT with Fallback Test from 17.1 DC to 15.2 • 16 August 2003 : 2nd PRT with Backup System Failover Test • Selected pilot Exchange Participants were invited to join these PRTs • One-day Simulated Trading Rehearsal (STR); • 6 September 2003: 2 Market Rehearsals with Fallback Test from 17.1 DC to 15.2 • 117 Exchange Participants (EP) had participated in these rehearsals

  8. STR Results • 117 Exchanges Participants had participated • System stressed to 3 times peak loading • System stressed highest to 5 times peaking transactions • Performance normal, no abnormality was identified

  9. STR Results Favourable evaluations from participating EPs: • Average 97.5% did not encounter any PC or network problems in both MRs • Average 98.5% viewed that system response time was comparable to current production standards in both MRs • 97% viewed that the services provided by the HKATS Helpdesk meet their level of satisfaction • Over 99% believed that the OMex 17.1 DC was ready to be put on production

  10. Fallback Contingency Plan • Overview • A stabilisation period of 2 weeks after software upgrade • Occurrence of “unexpected” system failure that is unlikely be resolved within 24 hours • Fallback from OMex v. 17.1 DC to v. 15.2-3 in 3 hours • Intra day fallback: before 11:00 am, fallback in afternoon session • Next day fallback: after 11:00 am, fallback in next day

  11. Fallback procedure Participants Exchange IT Price Reporting System 15.2 15.2 Click 5.2 OMex 15.2 17.1 17.1 Clearing Houses Click 5.3 OMex17.1 Network Gateway Tunnel Server

  12. Fallback Contingency Plan Communication: • Exchange Participants will be notified via • Market Message Window • HKATS Email System • Exchange News System • Participants Email System • Group Paging System • Public investors will be notified via • Press announcement • HKEx Website (www.hkex.com.hk)

  13. Fallback Contingency Plan Preparation: • Well tested and drilled by the Exchange • Well rehearsed by Exchange Participants • Briefings, practices, drilled in PRTs/STR • Valid for 2 weeks until 17 October 2003

  14. Scheduled Launch DateMonday, 6 October 2003

  15. Q & A

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