San: What are your top IT and operations priorities for 2010? 


Van den Brande:  First and foremost clearly is a successful launch. Not many people in the world have the chance to build an exchange from scratch, and it’s my highest priority this year to get it done and done well. We have built our matching engine and we’re now testing it. In the next few weeks we’re going to put it to work to see how it competes against the world’s best. I think we’re going to win. Then the challenge will be remaining ahead of the pack.


San: What are some of the exchange-based technology trends you are keeping an eye on?


Van den Brande:  Everyone is chasing those last few fractions of a millisecond that can make the difference between profit and loss. Latency is what everyone wants to hear about. I’m very happy that HKMEx is extremely competitive in this area, but I’m fully cognizant of the fact that few competitors are willing to stand still for a beating. We’re going to have to get faster and faster as the competitive pressure increases.


San: As a new entrant in the Asian exchange sector, what role can technology play to enhance HKMEx’s customer base and brand?


Van den Brande: We strongly feel that our technology provides us with an unbeatable competitive advantage. Our testing shows that our Pearl trading system is among the fastest in the world. Its reliability approaches the gold standard of fault-tolerant systems, thanks in no small part to our system of dual datacenters. It’s scalable too, which means we could double its capacity over the weekend at a small fraction of the cost we might have paid just a few years ago. We aim for the HKMEx brand to be synonymous with cutting-edge technology, and I’m confident we’re going to get there. Our systems are also functionally rich; it’s easy to introduce spread contracts, implied-in and implied-out orders and price generation.


San: What are some of the more notable security disruptions in the exchange sector right now?


Van den Brande:  We’re not alarmed by this. Our technology has world-class security standards and our procedures follow the highest industry standards. Our security framework is extremely stringent regarding numbers of users who can enter our system or log in remotely.


San: Can you elaborate on HKMEx’s Pearl trading platform; and what makes it so innovative?


Van den Brande: Pearl is based on Cinnober’s TRADExpress, which I regard as amongst the best technology in the world right now. Our customers have the most extreme performance and functionality demands and we feel we’re able to give them what they want.


San: Your portfolio oversees technology and operations. What are some of the challenges and rewards involved in this dual role?


Van den Brande: It’s like a master juggler keeping a dozen balls in the air. It looks like a prodigiously difficult feat, and it is! Supervising both operations and technology means you are in turn supervising senior executives who themselves are overseeing large and technically complex projects. It becomes impossible to know all details of what is going on down at the front line and its imperative that your top managers are top-quality executives.


San: How do you tailor your technology and operations strategy to adhere to regulations in countries where trading standards may significantly vary?


Van den Brande: We fall under the regulatory umbrella of Hong Kong’s Securities and Futures Commission and we really don’t face any issues over different regulatory regimes.


San: Industrial and Commercial Bank of China (ICBC) recently acquired 10% equity interest in Hong Kong Mercantile Exchange (HKMEx) and will now participate in the exchange’s trading operations.  How so?


Van den Brande: ICBC is so keen on our new endeavor that they are members of the exchange.


San: What skills do you feel contribute to a successful IT executive?


Van den Brande:  I’m sorry to say this, but the ability to work hard for long hours and remain cheerful and productive is a very important quality. Teamwork is essential to moving projects forward, and organisational skills are an area where weakness will quickly get you into trouble. If you can’t get and remain organised, the job will overwhelm you. Additionally, you have to know the capabilities of your technology and the needs of your business so you can find the best areas for innovation.


San: Every leader, particularly at your level, has a legacy they wish to be remembered for. What is yours?


Van den Brande: I think building this exchange will be enough, but building it into one of the most important exchanges in the world would be a nice follow-on.