The concept of first-come first service
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CAMS issue a provisional receipt with a reference number to the investor once an order is processed.
Although same stock are grouped together and combined into a lot which consisting many individual orders, the system does keep track of each order's reference number and the ordering time.
In fact, priority is based on order-time are built into the system. All pending orders
are so arranged that the first stock number appears to the floor trader will be the one
with smallest number on the provisional-receipt which also means that is the earliest one
on the order list.
Same stock number with same Bid/Ask price are grouped together and they are displayed on the same page on the floor-trader's terminal. Floor trader can read all information in one glance and input all orders to the SEHK computer with just a fraction of time compare with the conventional method.
Next page will be the order with next top priority on the list. This system does not follow the conventional way to display stock number one by one and return to the first one after a long cycle.
Since floor trader can not alter the sequence except when the requested prices are not available from the market when a skip function is used for switching the stock number to the next order.
The system does rely on floor trader's effort to put all order to SEHK'S system. Therefore, a supervision screen is for the system administrator to watch what they are doing during the marketing session.
All order entries are recorded with order time and who made the order. Detail reports are available from the administration screen.