How the system work
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This system is a data collection and information distribution system. The following three parts of user interface are for different type of user of the system.
1. Order Entry Screen is the user interface for order entries which is usually
on the investor’s terminals.
2. Dealer or floor trader input screen.
3. There is a screen for the system administration.
Order entries are transferred to the dealer/floor trader's terminal so that dealer(floor trader) can place the corresponding orders to the computer of SEHK. Once the order is matched, the floor trader (dealer) will confirm the investor through the dealer's terminal.
Before matched, orders are either pending or listed depending on whether they are input to the SEHK computer. Since the system can read order entries from many 'Order Entry' terminals, there are orders with same Ask/Bid price in different quantities from different 'Order Entry' terminals. This system will consolidate all these quantities into one big quantity so that the dealer/floor-trader can make one input entry into the SEHK computer and finish the data entry job which would have been done several times after several telephone calls before. (This consolidation feature can be an option)
In case of cross-trade between 'Order Entry' terminals, the system will group these orders automatically and display to the floor-trader (dealer) as an order for crossed-trade.
When a matched report is available from SEHK computer, the floor-trader (dealer) can forward the status back to the system.
The system distributes matched quantities into its original breakdown quantities according to the first-in first-service procedure.
Investor can read the order status, change order quantity or even cancel orders (for not yet matched orders).
There is a system administrator’s screen for maintenance purposes -- such as collect credit information from back-office system, create bar-code membership card for
investor, create password for member, print reports and perform system backup ...etc.
At the day end, the system can transfer all matched orders to the back office system.
The following pages briefs each individual parts.