Hong Kong Exchanges and Clearing Limited Electronic Disclosure System
Developed by Hong Kong Exchanges and Clearing Limited (HKEx), the Electronic Disclosure System (EDS) is used for the electronic submission and dissemination of listed issuer news in the Hong Kong securities market.
EDS allows investors to access vital information via the Internet anytime from any location. It applies modern web technology to transform a paper-based model to a fully electronic and paperless model.
Its straight-through process for submitting and disseminating issuer documents enables faster disclosure by listed issuers on the HKEx website and allows local and overseas investors to access issuer information in a timely manner. In addition, the system provides a digital feed that transmits full text of all issuer disclosures to information vendors. The system also offers free issuer news alerts to over 37,000 registered subscribers, including retail investors.
The system's high availability and resilience is ensured by its multiple web servers and the server load balancing infrastructure, as well as the extreme robustness of the HKEx website.
EDS helps increase transparency for investors and also helps reduce regulatory costs for issuers. Overall, the system strengthens the competitiveness of the Hong Kong securities market and helps promote Hong Kong as an advanced digital economy.
Comments from Judging Panel
“Price sensitive news can be input outside the traditional collection hours set by newspapers and automatically distributed within 60 seconds. This works to eliminate the needless suspensions of trading that might otherwise arise solely because of press deadlines. Immediate access by everyone in the market to the same first hand information has further strengthened Hong Kong’s enviable reputation as a regional financial hub offering fairness and transparency.”