HONG KONG--(BUSINESS WIRE)--WTT HK Limited (WTT), a leading ICT service provider in Hong Kong, is pleased to announce it is operating and maintaining the enhanced network infrastructure of the Orion Trading Platform – Securities Market (OTP-C) for Hong Kong Exchanges and Clearing Limited (HKEX) after designing and building the new network infrastructure.
To meet evolving business needs and future market growth, a scalable, flexible and high performing trading system is required for Hong Kong securities market, which OTP-C aims to offer. OTP-C is part of a major technology upgrade (the “Orion Technology Initiatives”) to transform HKEX’s market infrastructure. The launch of OTP-C to replace the AMS/3.8 system in February 2018 marked the successful transformation of the Hong Kong securities market’s infrastructure to support new business and meet capacity requirements in the next decade.
Reformed Network Infrastructure for Swifter Exchange and Greater Operational Flexibility
HKEX has planned a network infrastructure transformation from the SDNet/2 backbone network shared by trading and clearing related systems to the SDNet/3 backbone network. The new backbone network, in addition to lower latency, higher bandwidth, better scalability and other improvements, is equipped with improved partitioning capabilities. Each partition hosts an individual system which works in a highly independent manner. This greatly reduces the likelihood for a network problem to pass from one partition to another, affecting systems running in other partitions. OTP-C network is the first phase of the transformation and WTT was appointed for the implementation.
OTP-C network is carefully engineered in all aspects, with WTT providing a managed service. WTT’s professional team took charge from design, implementation and tests to assistance in a series of simulations and market rehearsals with Exchange Participants (EPs). A prudent migration approach was developed, tested and executed to ensure a successful cutover. 24/7 support and monitoring service, regular health check and instant response are provided to ensure high network stability.
Successful implementation of the OTP-C network was a significant achievement benefiting the securities market community. It also helps maintain and enhance Hong Kong’s position as a leading international financial centre.
Exhaustively Tested Technology Reinforces Hong Kong’s Competitive Edge
“Technology plays a vital role in HKEX’s operation. WTT is proud to be the technology partner of HKEX providing end-to-end support from designing, building, operating, implementing to maintaining the network infrastructure of this mission-critical trading platform that processes millions of dollars per minute. Sophisticated domain know-how and profound IT experience are prerequisites enabling us to be the entrusted technology service provider again to enhance HKEX’s securities market network infrastructure, facilitating a reliable and efficient connectivity to its EP community.” said Vincent Ma, CEO of WTT HK Limited.
“Comprehensive testing has been conducted with the market to ensure the delivery of a system that is reliable, resilient and efficient.” said Richard Leung, HKEX’s Deputy Group Chief Information Officer and Chief Technology Officer Hong Kong. “OTP-C is a scalable high performance system based on open systems technology that gives it flexibility to support a variety of new functionalities. The system is designed to process many more order transactions per second than AMS/3.8, with scope for further increases.”
HKEX’s “Orion Technology Initiatives” marked a major technological transformation in market access, connectivity, speed and efficiency which benefits the Hong Kong economy, consolidating Hong Kong’s role as a premier international financial centre.
Formerly known as Wharf T&T Limited and acquired by MBK Partners and TPG Capital in 2016, WTT is the only enterprise-focused fixed telecommunication services operator with significant fixed line infrastructure in Hong Kong. WTT has already invested over HK$7 billion in its network to create a leading fibre-optic end-to-end network in Hong Kong covering 5,300 commercial buildings. Its Fibre-To-The-Desk (“FTTD”) coverage reached more than 83% of the buildings in its network. Together with a robust in-house service engine offering a comprehensive range of ICT products and bespoke services, WTT is a trusted partner of its diverse base of over 56,000 business customers serving their mission critical needs. For more information about WTT, please visit www.wtthk.com.