Orion Cash Platform

Overview

As part of our technology advancement journey, OCP (Orion Cash Platform), HKEX’s cash market platform, is undergoing a series of enhancements released in phases that are aimed at providing more efficient, modernised and seamless experiences for market participants.

First phase: Cash market post-trade services

The first phase of this cash market enhancement programme will deliver a series of upgrades and additional services that will complement the existing core post-trade processing functions currently maintained in CCASS. Market participants may adopt these new features and services, which are expected to be launched progressively from 2025 to 2027, according to their needs.

OCP is part of our strategy to invest in a robust, flexible and efficient cash market infrastructure that progresses Hong Kong’s financial markets and sets us apart in an increasingly competitive international marketplace.

Richard Leung

Group Chief Information Officer, HKEX

Benefits

The first phase of the OCP enhancement programme, which focuses on the cash market clearing and settlement infrastructure, will support client needs by providing the following benefits.

Market Access

Automating post-trade report downloads and information exchange and provision of further API access.

Real-Time Trade Data

Real-time trade data transmission and delivery.

Real-Time SI Matching

Enhancement of settlement instruction (SI) processing, plus other new features.

Timeline

The first phase of the OCP enhancement programme will run until the end of 2027. New post-trade features and services will be rolled out progressively beginning mid-2025, and one-to-two releases will be provided each year. Each new release will be communicated to the market well in advance.

Market participants may adopt these new features and services according to their needs.

We look forward to engaging with our stakeholders and market participants over the course of this modernisation journey as we leverage technology to position our markets for the future.