NO 230 – APRIL 2012
Reform and innovation in Chinese capital markets

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WFE Focus January 2012

Hong Kong Exchanges to launch new technology initiatives
Hong Kong Exchanges and Clearing launched “HKEx Orion”, a transformative program of technology initiatives that will elevate Hong Kong’s position on the world’s financial stage. Designed to revolutionize HKEx’s core trading platforms, the HKEx Orion program will deliver connectivity networks, a state-of-the-art data center and systems providing order matching, market data dissemination and market access services. The new infrastructure and platforms will be implemented in stages over the next three years to incrementally transform the market. NYSE Technologies’ Exchange Data Publisher (XDP) has been selected to drive the platform.

ISE enhances trading platform
The International Securities Exchange completed its technology release 3.0, the latest upgrade to its new trading system based on the Optimise trading architecture. With this release, ISE introduced the technology necessary to enable legging orders, a new order type scheduled to go live in early May.

NASDAQ OMX Commodities implements market surveillance platform
Market Surveillance at NASDAQ OMX Oslo has implemented a new surveillance platform, the SMARTS Integrity Platform (SMARTS). Some of the main improvements SMARTS provides compared to previous surveillance technology are higher effectiveness of data processing, a wider scope of processed data and higher degree of data visualization.

Qatar Exchange implements surveillance system
Qatar Exchange has launched its new market monitoring system, Scila Surveillance. The system, delivered by Cinnober, is customized to the needs of Qatar Exchange in terms of new alerts to detect abnormal market behavior and conditions that are specific to the exchange’s rule book, integration with the exchange’s trading engine, post-trade system and news feed, and new reports and screen features.

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