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Hong Kong exchange ends floor trading after 31 years
Last Updated: 2017-10-30 08:26 | Xinhua
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CHINA-HONG KONG-HKEX-FLOOR TRADING-ENDING (CN)

Traders wave goodbye at the trading hall of Hong Kong Exchanges and Clearing Limited (HKEX) in Hong Kong, south China, Oct. 27, 2017. HKEX on Friday held an event to mark the end of its floor trading and the shift to an era of electronic trading. A gathering was held at the trading hall for floor traders who used to work here. The red-carpeted space once accommodated more than 1,000 floor traders in its heyday. They usually wore iconic numbered red vests. (Xinhua/Wang Shen)

Hong Kong Exchanges and Clearing Limited (HKEX) on Friday held an event to mark the end of its floor trading and the shift to an era of electronic trading.

A gathering was held at the trading hall for floor traders who used to work here. The red-carpeted space once accommodated more than 1,000 floor traders in its heyday. They usually wore iconic numbered red vests.

Ms Sin worked here soon after the opening of the floor. "The number of my red vest was 228, a very lucky number. Many traders wanted to buy the number. I'm so happy to meet some old friends at the gathering," she said.

Ms Wong ended her work here only half a year ago. "It was quite pleasant to work as a floor trader. We saw investors every day, but fewer and fewer are showing up as electronic trading boomed," she said. "I feel quite sad to see the closing."

The remaining floor traders left the floor this week. Work will begin to redevelop the Trading Hall and Exchange Exhibition Hall into an iconic showcase for Hong Kong's financial markets.

According to HKEX, the Trading Hall was opened in 1986. Electronic trading was introduced in 1993 and off-floor trading began in 1996. Online trading was enabled in 2000.

As more chose to trade at their own offices due to the advancement of technology, floor trading declined substantially.

The Trading Hall and Exchange Exhibition Hall will be renamed Hong Kong Connect Hall after they are renovated. It will have space for listing ceremonies and other ceremonies, conferences and exhibitions. Its opening is scheduled for the first quarter of next year.

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