The Hong Kong Stock Exchange SEHK has been eagerly awaiting the launch of the third version of its Automatic Order Matching and Execution System 3 AMS3, scheduled for the third quarter this year. But some analysts believe the system may now not only be delayed, it will offer only a few of its eventual features when it is first rolled out.
AMS3 is intended to help the exchange catch up technologically with Asia's other developed markets. Korea and Singapore, for example, have had automated exchanges with direct order routing for years. New channels and workstations will be introduced in the first phase of implemetation, but AMS3 will eventually offer such...
