HKEx to build Asia’s largest data center

Hong Kong (CNS) -- Hong Kong Exchanges and Clearing Limited (HKEx) announced Wednesday it will invest three billion HK dollars to launch a new data center that it expects will be the largest in Asia.

The HKEx will take three years to improve its technological infrastructure, building an advantage it hopes will consolidate Hong Kong's position on the world financial stage.

This investment will stimulate their business growth, said Charles Li, Chief Executive of HKEx, and will boost their confidence to face the fierce competition in the global market.

The Singapore Exchange announced days ago that it will connect its trading system with the New York Stock Exchange. Regarding the move by its neighbor, Li said Hong Kong will also consider connecting its system with counterparts in London, New York and the Chinese mainland. The efficiency of cross-border business should also be improved.