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

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

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

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

Benefits 1. Erroneous Order Protection  Availability of Central Order Size Limit 2. Default account by instrument type 3. Customised Tick Size 4. Compatibility with DCASS for an integrated trading & clearing operation 5. Others

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

External Test Programme 1. 2 Production Readiness Tests (PRT);  9 August 2003 : 1 st PRT with Fallback Test from 17.1 DC to 15.2  16 August 2003 : 2 nd PRT with Backup System Failover Test  Selected pilot Exchange Participants were invited to join these PRTs 2. 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

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

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

Fallback Contingency Plan Overview AA stabilisation period of 2 weeks after software upgrade OOccurrence of “unexpected” system failure that is unlikely be resolved within 24 hours FFallback from OMex v DC to v 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

Click 5.3 Click 5.2 ParticipantsExchange IT OMex 15.2 OMex 17.1 Fallback procedure Network Gateway Tunnel Server Price Reporting System Clearing Houses

Fallback Contingency Plan Communication: Exchange Participants will be notified via 1. Market Message Window 2. HKATS System 3. Exchange News System 4. Participants System 5. Group Paging System Public investors will be notified via 1. Press announcement 2. HKEx Website (

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

Scheduled Launch Date Monday, 6 October 2003

Q & A