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HKEX informs China Connect Exchange Participants of pending launch of new trading platform

Maria Nikolova

HKEX intends to introduce a new trading platform for Northbound Trading under Stock Connect to replace the current China Stock Connect System in the middle of 2019.

HKEX has earlier today published a circular informing China Connect Exchange Participants (CCEPs) of its plans to introduce a new trading platform.

The new platform for Northbound Trading under Stock Connect, which is set to replace the current China Stock Connect System (CSC), is poised to be released in the middle of 2019. The new solution, Orion Trading Platform – China Stock Connect (OTP-CSC), is developed based on open systems, which provides greater flexibility to support new functionalities and increased trading capacity requirements.

The migration to OTP-CSC mainly involves changes of HKEX’s host system. As CCEPs are connecting with HKEX’s host system via China Connect Central Gateway (CCCG) and, if applicable, Orion Market Data Platform – China Stock Connect (OMD-CC), they are not expected to have to make changes to their systems. CCEPs, however, will be required to participate in conformance tests before OTP-CSC rollout, and therefore are advised to plan for resources for testing and rollout in the first half of 2019.

HKEX has published an Information Paper in the dedicated “OTP-CSC” section on HKEX website. The Information Paper provides an overview of the OTP-CSC migration, preparation efforts required, and schedule for CCEPs to prepare for the implementation of the OTP-CSC.

In order to facilitate future communication related to OTP-CSC implementation, CCEPs are required to complete and return the form in Attachment 1 to HKEX on or before 12 October 2018 to designate their contact persons for OTP-CSC project.

Less than a fortnight ago, the investor identification model for Northbound trading (NB Investor ID Model) through the mutual stock market access program of Hong Kong Exchanges and Clearing Limited (HKEX) and the exchanges in Shanghai and Shenzhen (Stock Connect) was launched. Implementation of the NB Investor ID Model is anticipated to result in more efficient Hong Kong-Mainland cross-border market surveillance.

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