A : Currently FinNet is sponsored by the SFC. FinNet's long term goal is to evolve into a user/member owned cooperative type of business. New shareholders from both public and private sector will be introduced as the business grows.

A : To implement this solution, FinNet is built with the following building blocks:

• Use open international standard-based technology with specification fully open to enable licensed financial services providers to offer services on the network,
• Allow access to the network using publicly available communications services in Hong Kong and globally,
• Use non-proprietary communications protocol to ensure interoperability between systems,
• Be highly robust in its availability and reliability, and
• Be fully secure and allow for authentication, encryption and non-repudiation of financial transactions.

A : As of 30 April 2003, FinNet user base includes :

• 480 Brokerage firms and 6 Stock Pledgees
• 44 Banking Institutions
• 1,463 Securities and Derivative Intermediaries

All those members use FinNet as the secure network channel to connect to the regulatory bodies for submitting financial returns, reading circulars and newsletter, conducting e-IPO application submission and closed working group communication etc.

New financial related services will be added from time to time to enrich the application portfolio available on FinNet.

A : Although at the present moment FinNet do not have connections with other financial networks like SWIFT and EUROCLEAR, FinNet do have global connectivity in mind. Its network architecture and design are open and ready for such connectivity when business needs arise.

A : As a member, you can enjoy :

1. An open, robust, secure, scalable and high performance network based on open standard technology you can trust for secure and reliable electronic transactions and information exchange.
2. Through a single network connection to FinNet, you can access multiple services offered by application/information providers and regulatory bodies etc.
3. Cost and manpower saving by using FinNet fully managed network service with 24 x 365 support
4. Peer-to-peer communication with other industry participants

As a service provider, you can enjoy :

1. Competitive advantage in service deployment in term of time to market and cost of delivery through the reliable FinNet infrastructure
2. Instant reach to numerous potential customers in the financial sector who are already connected to FinNet
3. Connection with other service provider systems on FinNet for straight through processing
4. 24 x 365 managed network service to support your customers with quality service commitment

A : For dial-up connection, the connection speed is up to 56Kbps. Alternatively, you can choose to use leased line frame relay connection with speed range from 64Kbps to 2048Kbps depending on your own needs.

A : FinNet provides telephone support via the customer service hotline (121 389) for set up and problem fix reported. If onsite assistance on set up is required, you can contact FinNet approved vendors for onsite support at charge. Details can be obtained from the same service hotline.

A : Wharf T&T (WTT) quality and service commitment are governed by the service level agreement signed between WTT and the Securities and Futures Commission (SFC). The FinNet management committee of the SFC will monitor and review the quality and service level with WTT from time to time to make sure FinNet operated in good condition with high quality standard for financial application operations.

A : It depends on (1) the type of service(s) you subscribe, (2) the line speed you choose for FinNet connectivity (3) whether you want to use service or provide service. For details of charging, please call our Business Inquiry Hotline at 2283 6883.

A : FinNet is open to all companies and licensed entities participating in the financial sectors in Hong Kong. You can join FinNet as a member or a service provider. Please contact us for further details by :

Email : info@finnet-hk.net
Phone : 2283 6883
Fax : 2293 5824

FinNet is a secure private network platform for business-to-business type of transaction and information exchange not accessible via Internet. Membership is not for retail customers.