HKATS Upgrade to OMex 17.1 HKATS Upgrade to OMex 17.1 Media BriefingMedia Briefing

提升提升 HKATSHKATS 電子交易系統軟件至電子交易系統軟件至 OMex 17.1OMex 17.1傳媒簡布會傳媒簡布會

24-09-200324-09-2003

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. 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

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 : 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

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 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

Click5.3

Click5.2

Participants Exchange IT

OMex 15.2

OMex 17.1

Fallback procedure

15.2

17.1

15.2

17.1

NetworkGateway

TunnelServer

Price Price Reporting Reporting SystemSystem

Clearing Clearing HousesHouses

Fallback Contingency PlanCommunication:

Exchange Participants will be notified via

1. Market Message Window2. HKATS Email System3. Exchange News System4. Participants Email System5. Group Paging System

Public investors will be notified via

1. Press announcement2. HKEx Website (www.hkex.com.hk)

Fallback Contingency PlanPreparation:

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 DateScheduled Launch Date

Monday, 6 October 2003Monday, 6 October 2003

Q & A