Brokers win opportunity to expand

PUBLISHED : Thursday, 30 November, 2000, 12:00am
UPDATED : Thursday, 30 November, 2000, 12:00am

Hong Kong Exchanges and Clearing is to introduce a function to its stock trading system that will allow brokers to provide additional services to clients.

From Monday, 37 brokers will be the first to use the multi-workstations system under the AMS/3 - the third generation Automatic Order Matching and Execution System.

The multi-workstation systems will allow brokers to each use many trading terminals in their offices to trade stock, instead of the present practice many brokerage houses have of using only one or two.

Also, the brokers who use the multi-workstations system could add new services for clients, including automatic notification of trade results.

Meanwhile, the exchange said it had started testing the order routing system of the AMS/3 which will be launched in the first quarter of next year.

About 200 brokers will use the system, allowing them to offer Internet trading services to clients through a common Web platform of the HKEx.

Reuters InterTrade Direct will link up the exchange's system with brokers, while New World Mobility will allow brokers to offer mobile trading services under the routing facility.