Complementing the new trading environment introduced by HKEx, our Warrants Market Making System (WMMS) with MMOG connectivity is designed for derivative warrants market making in the cash market of HKEx. As at the date of publication, over 19% of derivative warrants issued have been made market through our infrastructure, and 22% of liquidity providers have deployed our WMMS.

Powered with MMS Spreadsheet and MMS CoffeeChew, WMMS is a comprehensive solution catered for issuers, liquidity providers and investors to conduct derivative warrants trading. The solution offers real-time data delivery capability and complete order execution and management functionalities.


MMS Spreadsheet is an Excel spreadsheet-based interface for issuers to define pricing models, bid/offer trigger points and critera for warrants issued. Based on corresponding pricing models and according to market movement, the application will trigger bid/offer orders. For users other than issuers, MMS Spreadsheet can be configured to execute different program trading strategies.


MMS CoffeeChew is a password-protected application acting as a gateway between MMS Spreadsheet and HKEx trading host with the functionality of sending orders based on instructions defined by MMS Spreadsheet users and receiving order status from the HKEx trading host through APFA data center. Linkage with MMOG can be established in a fraction of second simply with a keystroke.

Addressing the needs of liquidity providers, the solution comes with System Admin., a monitoring tool allows system administrator to define setting of the system and a LP Terminal for order management.

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