The city’s bourse on Thursday announced it is developing a tech platform that would allow it to offer near 24-hour derivatives trading while improving efficiency and introducing new products to address rapidly changing customer needs.

In a statement, Hong Kong Exchanges and Clearing (HKEX), the city’s stock operator, also said that the in-house platform - Orion Derivatives Platform (ODP) - would be launched in 2028, which would help differentiate the group’s derivatives offerings while boosting its global competitiveness in the derivatives market.

“Building future-ready technology platforms and operations is a key strategic priority for HKEX, as we help our markets and participants deliver long-term, sustainable growth and development,” said the group’s chief executive Bonnie Chan.

“We are therefore pleased to announce plans to develop the ODP, representing our significant investment into the future of our markets,” Chan added.

Noting that derivatives were one of the faster growing segments of HKEX’s business, with record-breaking volumes in both 2023 and 2022, Chan said such a platform would provide unique advantages - with enhanced trading and clearing capabilities and capital efficient risk management tools.

The bourse also said it would actively engage with market participants during the development process.