Hong Kong Bourse Plans $380 Million Upgrade to Technology
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Hong Kong Exchanges & Clearing Ltd. will spend HK$3 billion ($386 million) on technology upgrades over three years to boost trading speeds and expand its derivatives business amid increased competition from regional exchanges, the bourse operator announced today.
The world’s largest bourse by market value is calling the technology initiative, which will also offer connections to mainland Chinese markets, Orion, after the constellation also known as the hunter. ABN Amro Bank’s clearing unit and Credit Suisse Group AG’s foreign-exchange unit are among 22 founding tenants of a new co-location center, which will allow traders to put their servers in the same place as the bourse’s for faster access.