ref: ACR.DOC
Introduction:
ACR is a software system module to help BROKER FIRM in manage their order processing job from/to STOCK EXCHANGE OF HK LTD.
Conventionally, floor trader take order by telephone either from broker firm or from client directly, he/she will enter the order to the SEHK terminal and return call to client/or office by phone regarding the matched order. This is a time consuming job and easily cause mistake.
From July 3,1997, refer to SEHK circular number TTD 064/97. SEHK provide a service for broker firm with a printer sharer which can be used for connection to two printers with one as a standby printer in case of the failure of the first one.
This printer sharer can also be used as a real time confirmation outputdevice and this is used by POP‘S ACR system which can capture confirmations and display on a screen so that dealer can input with ‘Client’s A/C #).
These confirmation information, after enhanced with Client‘s A/C #, can be routed to the back-office system (in fact, captured by the settlement system).
Since order matching can be done during the trading day and not after the close of market, any problem can be solve when both the settlement staff, AE, and the dealers are all available to work together to solve out questionable transactions.
The result is that no more data entry will be required by the settlement staffs and confirmation can be completed about the same time when the market closed.
Almost the same time when market close, POP‘S system will be able to print contract note, report, or statement and complete all jobs mush earlier then without the system.