- Year 2005 - | - Year 2004 - | - Year 2003 - | - Year 2002 - | - Year 2001 and before -

• As of 31 December 2006, FinNet user base includes :
  
  • 427 Brokerage firms
  • 81 Banking Institutions
  • 1,395 Securities and Derivative Intermediaries
    (Corporate)
  • 5 Financial Regulatory Bodies

• In December 2006, NOWTV Business News Channel was available via FinNet for free trial up till 31 May 2007.

• In August 2006, Wisers Information Limited offered a news content package called Wisers Financial News Centre for FinNet particpants.

• In January 2006, FinNet lanuched a new server infrastructure with enhancement on security, performance and email functionality.

• As of 1 December 2005, FinNet user base includes :
  
  • 473 Brokerage firms and 7 Stock Pledgees
  • 87 Banking Institutions
  • 1,359 Securities and Derivative Intermediaries
    (Corporate)
  • 5 Financial Regulatory Bodies

• In December 2005, the majority of banks committed to use FinNet for secure email communication with HKMA have their connections ready either in 'basic' mode (directly accessing email service provided by HKMA) or in 'gateway' mode (through mail gateway service provided by FinNet for corporate email routing integration).

• In November 2005, Hong Kong Interbank Clearing Limited extended its File Transfer Service (FTS) to cover cheque image transfer. FTS participants can exchange both payment files and cheque images with HKICL via FinNet.

• In October 2005, FinNet announced the new Infrastructure enhancement which will be launched in January 2006 with the aims to further improve the performance, reliability and security of FinNet application services. Brand-new FinNet email service and more secure member directory search and update will be provided.

• In September 2005, FinNet launched a new network connection service called 'Ethernet Link' with better network resilience and security. Two network carriers including PCCW & Wharf T&T were appointed to provide such service.

• In July 2005, Office of the Commissioner of Insurance (OCI) started to use FinNet as a secure email communication link with other financial related regulators including Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) etc.

• In February 2005, Hong Kong Monetary Authority (HKMA) announced to all authorized institutions (AIs) to use FinNet as the standard channel for secure email exchanges between HKMA and AIs.

• In January 2005, New FinNet connection offers specifically for File Transfer Service (FTS) was launched in January 2005 for banking subscribers only.

• In January 2005, FinNet changed the domain name from "FinNet-hk.net" to "FinNet.hk". Both domains are available until Aug 2005

• As of 31 December 2004, FinNet user base includes :
  
  • 505 Brokerage firms and 7 Stock Pledgees
  • 65 Banking Institutions
  • 1,416 Securities and Derivative Intermediaries
    (Corporate)
    
    

• In Dec 2004, FinNet signed a network service contract with Hong Kong Interbank Clearing Limited (HKICL) to provide FinNet as a network for authorized clearing members to access Payment File Transfer Service (FTS) offered by HKICL.
  

• In Sep 2004, CCRA system was successfully launched via FinNet. Over 40 authorized banking institutions have been connected to FinNet for CCRA access.
  

• In June 2004, FinNet signed a network service contract with Dun and Bradstreet to provide FinNet as the network for authorized banking participants to connect to Commercial Credit Reference Agency (CCRA) System. The CCRA system will be launched via FinNet in September 2004.
  
  
• In May 2004, PCCW was appointed as an authorized FinNet network service provider. FinNet participants can choose to use Wharf T&T or PCCW to connect to FinNet.
  
  
• In April 2004, HKMA migrated the STET (Submission Through Electronic Transmission) modem pool to FinNet. All banking participants are able to submit banking returns to HKMA through FinNet using dial-up, CCASS/3 or FinNet Fastlink.
  
  
• In February 2004, FinNet launched two new Fastlink connection packages to allow authorized participants connected to FinNet in multiple terminal mode or corporate LAN access mode.

• In December 2003, Mandatory Provident Fund Schemes Authority (MPFA) started to use FinNet as a secure communication link with other financial related regulators including Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) etc.
  
  
• In October 2003, Investor Compensation Company Limited established a secure communication link with Securities and Futures Commission through FinNet.
  
  
• In July 2003, Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing Limited (HKEx) started to use FinNet as a secure delivery channel for the transmission of Disclosure of Interests (DI) information.
  
  
• FinNet launched a brand new high speed (2Mbps) connectivity service called "FastLink" for all FinNet members starting from June 2003. FastLink offers FinNet members a low cost connection alternative to dial-up service.
  
  
• On 1 April 2003, HKMA launched a web-based online submission system ("e-Register System") within the existing HKMA Private Website ("PWS") for registered institutions ("RIs") to submit to the HKMA the required information in respect of relevant individuals.
  
  
FinNet provided an infrastructure for brokers and custodians to conduct Pre-Matching starting from March 2003. Riding on FinNet, information exchange among brokers and custodians can be delivered on time and securely. Currently, almost all major custodians are using FinNet for Pre-Matching exercise.



• FinNet launched the FinNet :. News Alert service starting from February 2003 to update subscribers on new FinNet features, products and services, announcements from regulators etc. Interested parties can subscribe the alert service via the FinNet website.
  
  
• In February 2003, FinNet awarded a security review contract to an external auditor. The security review aims at ensuring FinNet a secure and reliable network and its security practise adhered to industrial standards. The review was completed in early May 2003.

• The Securities and Futures Commission (SFC) launched the Seminar Registration System on December 2002 that allows interested parties to register seminars and workshops organized by SFC via internet.
  

• The Securities and Futures Commission (SFC) launched a new section called “SFC Enforcement Reporter” in the e-SFC website on FinNet in November 2002. FinNet members registered with SFC will receive a monthly email alert with content containing the SFC's enforcement action press releases for the month and a brief commentary.

• Authorized banking institutions on FinNet can submit their financial returns to HKMA starting from July 2002.

• Inter-organizational secure email transmission was established among HKMA, HKEx and SFC in July 2002 using 128 bit SSL encryption.
  
  
• HKEx started to use FinNet as one of the channels for distributing the IPO share allotment result electronically in May 2002. Approximately 170 FinNet participants were opted to use this service before launch.

• The Securities and Futures Commission (SFC) introduced e-circulars, e-surveys, e-consultation, e-newsletters services to all registrants effective from 1 May 2002, adding to the established e-FRR (Financial Resources Return) service offered by the SFC.
  
  
• FinNet has been extended over the IP-based CCASS/3 network, providing CCASS/3 participants parallel access to CCASS/3 and FinNet starting from May 2002.
  
  
• FinNet network was successfully migrated to Wharf T&T for on-going network operation and support with formal cutover on 1 February 2002.

• In early 2001, the two networks SDNet and STET Net joined to form the FinNet.
  
  
• The Consolidated Account Reporting System (CARS) was implemented by Hongkong Clearing on 16 October 2000. The CARS report provides a consolidated view of the open and cash positions of HKEx Exchange Participants, who are common members at the clearing operations of the HKEx.

• In September 2000, eIPO service was successfully launched on the SDNet to enable electronic submission of IPO applications to share registrars.

• In July 2000, The Securities and Futures Commission (SFC) launched the e-FRR system on SDNet for electronic submission of Financial Resources Rules returns for the broker's community.

• In 2000, the Securities and Futures Commission (SFC) established the securities and derivative segment of FinNet, called SDNet.

• In 1999, the then Financial Secretary appointed a formal Steering Committee for the Enhancement of the Financial Infrastructure in Hong Kong (the "SCEFI"). SCEFI's work recommended, amongst other recommendations, the full implementation of FinNet.
  
  
• In 1997, the then Financial Secretary, recognising the critical importance of technology to Hong Kong's financial markets, appointed an Informal Working Group to study actions needed to establish a financial technology platform to enhance efficiency and effectiveness for the financial community in Hong Kong. The original concept of FinNet was conceived in that working group. Subsequently, the Hong Kong Monetary Authority (HKMA) took the lead to implement the banking segment of the FinNet, called STET Net.