The Hong Kong Futures Exchange's flagship product - Hang Seng Index futures - will be traded electronically from May, bringing an end to open outcry after 23 years.
In a circular to its 130 members, the exchange confirmed the May deadline for Hang Seng Index futures and added that Hang Seng Index options would be traded electronically in June.
Trading of Hang Seng Index futures and options represents more than 90 per cent of exchange turnover and they are the only products still using open outcry.
The drive to make all futures products electronically traded formed part of moves to increase market transparency and trading efficiency, the exchange said.
To achieve these goals, the first phase will see all members trading Hang Seng Index futures required to use the automated order matching trading system (ATS) from May, it said.
The switch for Hang Seng Index options will follow four to six weeks after.
