Circular to licensed corporations Thematic review of Data Standards for Order Life Cycles

SFC found that although the SFC has repeatedly reminded In-Scope Brokers to implement system changes and make other arrangements needed for compliance with DS-OL, the thematic review noted that some In-Scope Brokers are still unprepared. For examples, some In-Scope Brokers only relied on information technology staff to establish the system and generate the data, with limited involvement by the equity trading business, compliance and other support functions, so some In-Scope brokers did not conduct an adequate checking and testing prior to their implementation. Therefore, SFC announced the Amendments to the Data Standards and expected the In-Scope Brokers should assign one or more Managers-In-Charge to review their current systems, supervise the implementation of the Data Standards and conduct a proper testing and reviews prior to the implementation of the Data Standards.

sources: Circular to licensed corporations Thematic review of Data Standards for Order Life Cycles | Securities & Futures Commission of Hong Kong (sfc.hk)