HONG KONG - The Hong Kong Exchanges and Clearing Ltd (HKEX) on Thursday announced the development of the Orion Derivatives Platform (ODP), offering enhanced trading, clearing and risk management capabilities.

Derivatives are one of the fastest-growing segments of HKEX's diverse business, achieving record-breaking volumes in both 2023 and 2022.

Bonnie Chan, HKEX Chief Executive Officer, said that developing an in-house platform that is adaptable, efficient and scalable, will give HKEX a unique competitive advantage in the global derivatives space

The new platform, being developed in-house by HKEX's technology teams with an expected launch in 2028, will give HKEX the capability to offer near 24-hour derivatives trading, introduce new products and provide enhanced efficiency.

Bonnie Chan, HKEX Chief Executive Officer, said that developing an in-house platform that is adaptable, efficient and scalable, will give HKEX a unique competitive advantage in the global derivatives space.

The launch of ODP will strengthen HKEX's capability to support the needs of global investors, and cement Hong Kong's leading position as Asia's risk management center and an international financial center, Chan said.