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Order Routing System for AMS/3

Order Routing System for AMS/3. Lawrence Fok Deputy Chief Operating Officer Hong Kong Exchanges and Clearing Limited 13 February 2001. AMS/3 Rollout Schedule. Launch of AMS/3 trading host and terminals Launch of MWS in batches (93 MWS introduced as of 12 Feb 2001).

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Order Routing System for AMS/3

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  1. Order Routing System for AMS/3 Lawrence FokDeputy Chief Operating OfficerHong Kong Exchanges and Clearing Limited13 February 2001

  2. AMS/3 Rollout Schedule • Launch of AMS/3 trading host and terminals • Launch of MWS in batches (93 MWS introduced as of 12 Feb 2001) Migration of AMS/2 to AMS/3 trading network • Launch of BSS in batches (89 BSS introduced as of 12 Feb 2001) • Launch of new order types and revised trading parameters Launch of ORS 12 Feb 2001 10 Jun 2000 23 Oct 2000 10 Nov 2000 23 Feb 2001

  3. AMS/3 Rollout Broker Trading Facilities Investor Access Channels Terminal Approach AMS/3 Trading Host Proprietary Network System (PNS) Order Routing System Trading Network Internet Trading Terminals (On-floor) Gateway Approach Open Gateway (OG) Open Gateway (OG) Multi- workstation System (MWS) Mobile Phone Internet Broker Supplied System (BSS) Trading Terminals (Off-floor) Terminal OG/MWS OG/BSS Terminals launched on 23 Oct 2000, MWS launched in batches on the same day Launch of BSS on 10 Nov 2000 in batches Launch of ORS on 23 Feb 2001

  4. ORS Purpose To provide the market and investors with the infrastructure for more electronic trading channels, including more Internet channels

  5. ORS Function Enables investors to place stock market orders electronically through : • HKEx Online Trading Service • Proprietary Network System channels provided by vendors • Fast Track link from HKEx Online Trading Service to Broker Supplied Systems

  6. ORS Main Benefits • Open system • Available to all Stock Exchange Participants • One-stop shop for investors

  7. ORS Rollout • ORS and HKEx Online Trading Service introduced February 23 • Approx. 100 Stock Exchange Participants (including MWS and BSS brokers) have registered interest in using the service • 21 to offer the service from February 23 • Others to offer the service in batches from late March • Additional Participants welcome • Proprietary Network Service channels to be introduced according to vendor timetables

  8. Outlook for Online Trading • Short term: Brokers and investors need time to get used to new services • Long term: Great potential

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