HKEX Launches Familiarisation Programme for New Risk Engine

A familiarisation programme has been launched to allow clearing participants to retrieve margin related reports calculated based on the new ORP risk models.

HKEX (Hong Kong Exchanges and Clearing) has launched a new programme to help clearing participants familiarise themselves with its new risk engine, Orion Risk Platform, or ORP.

ORP, previously known as the NextGen Risk Management platform, will feature new risk models for transactions in the Hong Kong Market.

The familiarisation programme will allow clearing participants to retrieve their margin, stress testing and Default Fund contributions information calculated based on the new risk models, in order to compare such information against that calculated by the existing flat-rate model in CCASS.

In addition, clearing participants will also be able to calculate the margin requirements for simulated portfolios they create based on the new risk models via the ORP system.

Phase one of the familiarisation programme will run from 11 January 2021, allowing clearing participants to retrieve margin related reports calculated based actual portfolios using the new risk models.

Participants are asked to apply for a RAP (Report Access Platform) User ID before end-February 2021, arrange technical setup, and study this information package and the relevant report specifications.

Phase two will tentatively be launched in Q2 2021, allowing participants to also retrieve stress testing and Default Fund contribution related reports, and enabling access to the ORP system for margin simulation purposes.

A circular on the familiarisation programme is available here.

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