The Stock Exchange Of Hong Kong Conducts More AMS/3 Market Rehearsals

The Stock Exchange of Hong Kong will conduct two more market rehearsals for Exchange Participants for the Third Generation Automatic Order Matching and Execution System (AMS/3) in order to ensure the highest standard of system performance.

The market rehearsals are tentatively scheduled for 7/8 October, and 14 October. The first market rehearsal will involve the fallback to AMS/3 backup system. Mocked trading under normal business circumstances will be rehearsed in the second market rehearsal. Detailed arrangements for the two market rehearsals will be announced to Exchange Participants shortly.

The four market rehearsals held in the past four consecutive weekends were completed with generally satisfactory results, but a number of minor technical issues have been identified. The technical issues were largely related to slow system response during traders' bulk order cancellation operation and in the market data update of the Multi-workstation System under extremely heavy trading situations. A delay in re-connecting about 80 terminals to the AMS/3 backup system was also identified at the third market rehearsal.

The Stock Exchange is addressing these technical issues and fine-tuning the system this week. It will conduct internal tests on 30 September to verify that all technical issues have been addressed satisfactorily.