Mixed results for securities trading system rehearsals

Stock Exchange of Hong Kong maintains that AMS/3 will be ready by the end of the year.

Elton Cane

September 11, 2000

Another round of market rehearsals for the Stock Exchange of Hong Kong’s (SEHK) new trading infrastructure took place over the weekend, and grumbling is emerging from some quarters about the readiness of the system that SEHK had hoped to have operational sometime in the third quarter this year.

The new Automated Order Matching System version 3 (AMS/3) has been described in less than glowing terms by people within some of the larger brokers involved in the pilot group. Although some of this frustration might be compounded by having to deal with incomplete technology on a weekend, some are suggesting there may be a substantial delay in the roll-out of the system that will have a big impact on the way Hong Kong brokers do business.

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