PCCW will design and implement the AMS/3 trading network upgrade. When the upgrade is completed, HKEx will improve market efficiency and will be able to increase the throttle rate, or the order throughput, of its Stock Exchange Participants' Open Gateways to AMS/3. Stock Exchange Participants transmit and receive transactions and data through Open Gateways.
"As Hong Kong continues to evolve as one of the world's leading financial centers, a robust and advanced securities trading structure is key for maintaining success," said PCCW Commercial Group Managing Director Aloysius Lee. "The entire network upgrade will involve 1,500 circuits and is expected to be completed in six months."
HKEx Chief Executive Kwong Ki-chi said the company had a long-standing relationship with PCCW and its predecessor, Cable & Wireless HKT. "They have worked closely with us since the development and introduction in 1993 of the first generation of the AMS," he said.
"We chose them to develop and implement the Order Routing System, the Multi-Workstation System and the trading network of AMS/3. Last year, we also selected PCCW to supply system hardware and software for the host end platform to support DCASS, the Derivatives Clearing and Settlement System. PCCW's responsibilities include installation and configuration, planning, control and management of various implementation tasks," Mr. Kwong said.
PCCW has a team of system integration engineers that can plan, design and implement information technology and telecommunication solutions specific to an organization's needs.
