新證券交易設施 - 第二輪發佈會 New Securities Trading Device Second Series Briefing. March 2014 Cash Trading, Global Markets Division

Transcription

1 新證券交易設施 - 第二輪發佈會 New Securities Trading Device Second Series Briefing March 2014 Cash Trading, Global Markets Division

2 Agenda 1 Project Background 2 High Level Migration Details 3 Indicative Migration Charges 4 Tentative Implementation Schedule 5 Presenting ET Trade Speed Station by ET Trade 2

3 Project Background HKEx believes that greater innovation comes from leaving trading devices to specialist technology vendors Approach Adopt an outsource model with an Independent Software Vendor for a 5 year term Arrangement Long Term ET Trade( 交易通 ) (with group company ET Net( 經濟通 )) will provide the New Securities Trading Device (NSTD) and support services to EPs at a fixed price HKEx will manage the migration with ET Trade for EP HKEx will monitor the software and service quality of the vendor After 5 years, if the solution is proven, HKEx will step back New Securities Trading Device aim to provide: Smooth transition for MWS and AMS Terminal users High quality solution and services from a reliable vendor System compatible with new HKEx Orion platforms Orion Central Gateway (OCG) & Orion Market Data (OMD) 3

4 New Securities Trading Device ET Trade Speed Station 4

5 Agenda 2 High Level Migration Details 5

6 EP Migration Planning ET Trade Speed Station Architecture ET Trade Speed Station EP Office 2 SDNet/2 ET Trade Speed Station 1 EP Decisions: 1. Number of ET Trade Speed Stations (New and/or migrate from MWS and AMS Terminals) 2. Bandwidth and number of SDNet/2 circuits (by PCCW or Wharf T&T) HKEx 3 4 OCG 5 ETSS Server AMS OMD-C Trading Hall ET Trade Speed Station 3. Number of OCG sessions (Consolidate OGs or not) 4. Number of throttles and Broker ID(s) assigned to each OCG session Note 1: Standby Terminal will not be migrated Note 2: Dealing desk at the Trading Hall will be separately migrated 5. Optional Cross Device Enquiries Module 6

7 Cross Device Enquiries Backup BSS EP Office ET Trade Speed Station Cross Device Enquiries Order/Trade flow for Broker ID 1111 Order/Trade flow for Broker ID 2222 Copies of Orders and Trades for Broker IDs 1111 & 2222 SDNet/2 Not needed if EP only has ET Trade Speed Station under one OCG Session HKEx OCG Session 1 ETSS Server OCG Session 2 AMS Drop Copy Session ET Trade Speed Station supports Cross Broker mass cancel without the optional Cross Device Enquiries Module (i.e. can send mass cancel for Broker ID 1111) Cross Device Enquiries Module is required for individual Cross Broker enquiry and order cancel (i.e. for orders submitted by BSS under Broker ID 1111) Subscription to Drop Copy is required to support Cross Device Enquiries Module 7

8 8 Migration Details Migration Approach Two rounds of migration per EP*: Round 1 (weekend) - Pilot Fri: Migrate selective MWS Workstations/AMS Terminals to ET Trade Speed Stations Sat: Perform Rollout Test for new OCG session Mon: Go live with ET Trade Speed Stations Round 2 (any day) Migrate remaining MWS Workstations/AMS Terminals (Note *: For EPs with one Terminal or MWS/OG workstation, migration will be completed in one weekend) Hardware Reuse existing hardware No extra component needed except internal network setup (where necessary) Contingency Other MWS Workstations/AMS Terminals of EP Use Emergency Dealing Desk

9 MWS Migration Options EPs with multiple MWS workstations have 2 migration options: 1. Full migration option Transfer all OG throttles to the OCG session Migrate all MWS workstations to ET Trade Speed Stations Downgrade SDNet/2 bandwidth to 1 Mbps or 3 Mbps 2. Parallel option (for OG with more than 1 throttles assigned) * Subject to SDNet re-configuration and higher monthly charges Transfer 1 or more OG throttles to the OCG session Migrate 1 or more MWS workstations to ET Trade Speed Stations Upgrade SDNet/2 bandwidth to 20Mbps Parallel run remaining MWS workstations and ET Trade Speed Stations Transfer remaining OG throttles to the OCG session Migrate remaining MWS workstations to ET Trade Speed Stations Downgrade SDNet/2 bandwidth to 1 Mbps or 3 Mbps 9

10 Agenda 3 Indicative Migration Charges 10

11 ET Trade Speed Station Monthly Charges Summary Description Monthly Fee Payable to $1,300 per 1Mbps single circuit PCCW or SDNet/2 circuit $4,800 per 3Mbps dual circuit Wharf T&T $100 per network switch (optional) License Fee Connection Fee Cross Device Enquiries Module (optional) Information Service Fee (a) (on behalf of HKEx IS) Terminal hardware maintenance (b) OCG Session Fee (c) (1-20 throttles) Drop Copy Session (for Cross Device Enquiries option only) Throttle Fee $800 per Terminal $3,000 per site (waived for first site) $3,000 per EP $200 per Terminal Per service provider s quotation $2,000 (1 st Trading session for each EP) $7,500 (additional session) No charge for 1 st Drop Copy Session for each EP $4,500 (additional Drop Copy Sessions) $480 per throttle (Trading Right) $960 per throttle (additional purchase) ET Trade HKEx (a) HKEx would adjust billing in arrears for any free entitlements (b) Including anti-virus software (c) OCG Backup Session Fees will be waived for ET Trade Speed Station 11

12 Indicative One-time Migration Charges* Description SDNet/2 Re-configuration New OCG Session Administration Fee One-time charge ~$3,000 to upgrade per circuit ~$1,500 to downgrade per circuit Waived for MWS/AMS Terminal migration MWS Migration OG/MWS de-installation Migration Rental hardware acquisition Migration Migration Standard OG/MWS: ~$600 per package HA OG/MWS: ~$750 per package ~$880 per workstation Second Terminal Migration ~HKEx book value (TBD) ~$880 per Terminal Third Terminal Migration ~$880 per Terminal * Actual charges may be different, it will depend on vendor s final quotation 12

13 Agenda 4 Tentative Implementation Schedule 13

14 Tentative Implementation Schedule Q1 Q2 Q3 Q4 Q1 Q2 Q3 Dependency OCG Launch Workstations HW Refresh Complete MWS/OG Server End Of Support (EOS) ET Trade Speed Station Launch Enrollment Enrollment Training & MWS Migration Training & AMS Terminal Migration MWS EOS ORS EOS AMS Terminal EOS Decision: Migrate or not? EP Actions Apply & Sign Agreement (EPs with MWS) Apply & Sign Agreement Confirm schedule & Arrange SDNet Migrate/De-install MWS Migrate/De-install Terminal 14

15 Coming Soon Information paper: Onboarding Arrangement Fees and Charges Subscription Agreement Template Functional Comparison of ET Trade Speed Station, MWS and AMS Terminal EP enrollment pack: Available in 2 phases by EP (Q2 for EPs with MWS, Q4 for EPs with AMS Terminal only) List of AMS Terminals and/or MWS server and workstations in use Confirmation form for migration or de-installation Enrollment forms for ET Trade Speed Station and OCG 15

16 Enquiries HKEx Cash Market Participant Support Web Corner: 16

17 Agenda 5 Presenting ET Trade Speed Station by ET Trade 17

18 ET Trade Speed Station 2 nd Walkthrough ET Trade & ET Net March 2014

19 ET Trade Speed Station Features Highlights

20 MWS & AMS Terminal Imitate Screen MWS & AMS Terminal look alike UI Support HKEx Customized Keyboard Follow the Input Sequence

21 MWS and AMS Terminal Imitate Screen With Customized keyboard or 101-keyborad, user can: Security enquiry 股票報價查詢 Chart, Multi Item, HKEx News; 圖表, 多報價, 港交所新聞 Order entry 輸入買賣盤 Odd Lot 碎股 Manual Trade 人手盤買賣 Bulk Cancel 取消大量買賣盤 Order modify & cancel 更改, 取消買賣盤 Order enquiry 查詢買賣盤資料 Trade enquiry 今日成交資料

22 Value-added services: All in One Screen All in One Screen Market Info Shares In Hand Order Book Input, Modify & Cancel Order Benefits Focus on Market Info Direct Response Oversee multiple stocks at the same time Supports Customized Keyboard or Mouse

23 ET Trade Speed Station Trader Function Enhancement

24 Major Changes / Enhancement Sign On Start of Trading Logon OCG Trader Logon Logoff Trader Logoff (Temporary Logoff) Logoff OCG (Permanent Logoff) End of Trading

25 Major Changes / Enhancement Security Enquiry Open Price Nominal Change Nominal Change % Number of Trades Charting (Price Movement History)

26 Major Changes / Enhancement Outstanding Order Enquiry (ORD ENQ ) Include Outstanding Order and Request Enquiry New Updates with status will be put on the top Sort by Time or Stock Sequence Filtered by Stock, Filled Orders, Trades and Client

27 Major Changes / Enhancement All Order Enquiry (ORD ENQ PRE/SP) To consolidate the following existing enquiry Order Enquiry by Execution Status (Static) Request Queuing Enquiry New Updates will be put on the top Sort by Time or Stock Sequence Filtered by Stock and Client

28 Major Changes / Enhancement Order Summary Enquiry (ORD ENQ REV ENQ) Replaced Order Summary Report (AMS Terminal Only) Consolidated the total Qty by Stock level

29 Major Changes / Enhancement Trade Enquiry (TRAN ENQ) Filtered by Stock Start Time Client At each page Total Shares Traded Total purchases and sales amount

30 Major Changes / Enhancement Price Warning 2 ways to call the user message window Use the keys (REV ENQ and REJ-ECT) User mouse to select from menu Single Confirmation for Re-enter order Number of Price Warning will be alerted