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The 2015 Trading Technology 40: Bill Chow and Richard Leung

#21 Bill Chow and Richard Leung, Co–Chief Technology Officers, Hong Kong Exchanges and Clearing


21
Bill Chow and
Richard Leung
Co–Chief Technology Officers
Hong Kong Exchanges and Clearing

Shanghai–Hong Kong Stock Connect, the so-called through train for trading between the Shanghai and Hong Kong exchanges, went live November 17 after a series of delays. But those were mainly regulatory and political in nature. For this ambitious program, a cornerstone of Hong Kong Exchanges and Clearing chief executive Charles Li’s cross-border game plan, the technology performed without a hitch. Credit the HK$3 billion ($387 million) Orion project, a comprehensive IT overhaul that co-CTOs Bill Chow and Richard Leung have been shepherding since 2012. Stock Connect was just the most visible example of the flexibility and scalability of Orion, which touches all asset classes and stages of the trading cycle and involved integrations of data and clearing systems from the likes of Calypso Technology and Nasdaq OMX Group. Since the through train started allowing both international and domestic investors to bypass China’s strict capital controls, northbound volumes — trading originating in Hong Kong — have exceeded southbound totals. Hopes are high that southbound activity will pick up as mainland investors increase their exposure to offshore equities. “HKEx’s IT group is ready to support any system changes for Stock Connect,” says Chow, 58, a 22-year veteran with the company. Leung, 51, who joined in 2012 after three years as CTO of Chi-X Global, notes, “The program is expandable and could be a model for other asset classes.”






The 2015 Trading Technology 40

1
2
3
4
5
Kevin Kometer
CME Group
Richard Prager
BlackRock
Raymond Tierney III
Bloomberg Tradebook
Jonathan Ross
KCG Holdings
Charles Vice
Intercontinental Exchange
6
7
8
9
10
Chris Isaacson
BATS Global Markets
Bradley Peterson
Nasdaq OMX Group
Brad Levy
MarkitSERV
Dan Keegan
Citi
Ronald DePoalo
Fidelity Institutional
11
12
13
14
15
Gerard Beatty
Goldman Sachs Group
Gerald O'Connell
CBOE Holdings
Brenda Hoffman
TMX Group
Billy Hult
Tradeweb Markets
Nicholas Themelis
MarketAxess Holdings
16
17
18
19
20
Bina Kalola
Bank of America Merrill Lynch
Gil Mandelzis
EBS-BrokerTec (ICAP)
Steven Randich
Financial Industry Regulatory Authority
Jerry Dobner
GFI Group
Michael Liberman
BlueMountain Capital Management
21
22
23
24
25
Bill Chow and Richard Leung
Hong Kong Exchanges and Clearing
Jamie Selway
Investment Technology Group
Brad Katsuyama
IEX Group
John Mackay (Mack) Gill
MillenniumIT
Jamil Nazarali
Citadel Execution Services
26
27
28
29
30
Robert Cornish
International Securities Exchange
Tyler Moeller andJoshua Walksy
Broadway Technology
Rishi Nangalia
REDI Holdings
Manoj Narang
Tradeworx,
Thesys Technologies
Oki Matsumoto
Monex Group
31
32
33
34
35
Alasdair Haynes
Aquis Exchange
Veronica Augustsson
Cinnober Financial Technology
Stu Taylor
Algomi
Luís Otávio Saliba Furtado
BM&FBovespa
Tal Cohen
Chi-X Global Holdings
36
37
38
39
40
Donal Byrne
Corvil
R. Cromwell Coulson
OTC Markets Group
Alfred Eskandar
Portware
Richard Korhammer
SR Labs
Hazem Dawani
OptionsCity Software


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