Exploration on using Internet as a solution to information dissemination system in the Hong Kong Stock Market

Pao Yue-kong Library Electronic Theses Database

Exploration on using Internet as a solution to information dissemination system in the Hong Kong Stock Market


Author: Au, Hon-ming Thomas
Title: Exploration on using Internet as a solution to information dissemination system in the Hong Kong Stock Market
Degree: M.Sc.
Year: 1998
Subject: Stock Exchange of Hong Kong
Stock exchanges -- China -- Hong Kong
Hong Kong Polytechnic University -- Dissertations
Department: Dept. of Computing
Pages: 74, [51] leaves : ill. ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1439118
URI: http://theses.lib.polyu.edu.hk/handle/200/1134
Abstract: Internet had experienced a dramatic growth in the past few years. Its applications by financial institutions are also increasing. But unlike other stock markets in the world such as the one in U.S.A., the Hong Kong stock market is still refrained from using Internet. Most of the stock information are only displayed in a static form dispersely by some of the large-scale broker, investment firms. Although there are real-time information provided by some of the Information Services Providers of Internet, most of these are restricted to members and is fee-based services. Other information and news dissemination of the stock market still depends on very traditional network infrastructures or are outsourced to information vendors authorized by the Stock Exchange. Immediate price quotations are restricted to screen-based terminals provided by the Exchange. The major objective of this dissertation is to explore the possibility of using Internet technologies to improve the information dissemination of the stock market with the aim to increase the transparencies of the market both locally and globally. To explore this, two major problems are addressed. First, the level of acceptance for using Internet as a tool for stock market information dissemination by the market participants is explored. Second, how Internet can be utilized to facilitate the information dissemination of the stock market in a market-wide manner and how its potential can be developed to improve the information dissemination mechanism as well as fulfill the information needs of the brokage firms, investment companies and the general investors. The first part of the paper will be accomplished by a survey among the prominent market participants, including brokage firms, banks and investment firms. The collected views will be used to formulate the latter part of this paper which shall include a proposed tactical framework, accompanied by a proposed prototype for setting up an information services mechanism for the stock market via the World Wide Web. Different aspects of the application, some implementation issues as well as the features of the prototype will be addressed. The last part will discuss the potential of its developments and the possible difficulties that will be encountered.

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