IT governance is an improving course and has become an important issue in the information technology area. IT governance refers to the organizational capacity exercised by the executive management and IT management to control the formulation and implementation of IT strategy. It ensures the sustainability of IT and the fusion of business and IT. Ever since the application of information technology in securities industry, IT governance and its future development have been the fundamental issue of the industry.
Hong Kong has the world’s tenth largest security market and the second largest in Asia after Tokyo. Over the last decade, Hong Kong has achieved significant growth in securities market. As one of the most important international financial centers, Hong Kong realized the challenges caused by the increasing competition in the globalized marketplace dominated by technology. Changes in the structure of securities market are supported to meet the requirements and ensure continuous growth. Currently, the major exchanges in Hong Kong are the Stock Exchange of Hong Kong Ltd., the Hong Kong Futures Exchange Ltd., as well as the Hong Kong Securities Clearing Co. Ltd. They are owned by Hong Kong Exchanges and Clearing Ltd. (HKEx). The unification of several exchanges creates a more powerful corporation. High level of information technology and high efficiency are the characteristics of Hong Kong’s securities market trading system. The trend in Hong Kong trading process is toward automation. Traditionally, securities transactions used to be time consuming, expensive and highly reliant on manual operations. With the help of Internet, the process turns to be more efficient and economical. In 1993, the Automatic Order Matching and Execut...
... middle of paper ...
...ersity, 2012
15. Peterson R., 2004, Information strategies and tactics for information technology governance, in Strategies for information technology governance, book ed. by Van Grembergen, Idea Group Publ.
16. Weill, P and Woodham R., 2002, Don’t Just Lead, Govern: Implementing Effective IT Governance, CISR Work. P. no. 326
17. Padoa-Schioppa, T.,(2002) Securities and banking : bridges and walls. BNL Quarterly Review, no.222
18. www. Souhu.com/ news
19. Zhu Hua, Future of Hong Kong Financial Regulation, SFC, 2012
20. Circular to All Licensed Corporations on Information Technology Management, SFC of Hong Kong, 2010
21. A Consultation Paper on The Regulation of On-line Trading of Securities and Futures, SFC of Hong Kong, 2000
22. General Principles for Technology Risk Management, HKMA, 2003
23. Technology Risk Management Guideline, MAS of Singapore, 2013
According to the Accenture IT Governance Model, the right model should offer a precise road map for IT governance decision-making and a framework for allocating responsibility and accountability among top-level executives, CIO, and business unit executi...
Whitman, M., & Mattord, H. (2010). Management of information security. (3rd ed., p. 6). Boston, MA: Cengage Learning.
Stock markets are markets where government and industries can raise long term capital and where investors can buy and sell securities. Stock markets are established for the purpose of assisting, regulating and controlling business of buying, selling and dealing in securities. They provide a market for the trading of securities to individuals and organizations seeking to invest their saving or excess funds through the purchase of securities. Stock markets play a role in the supervision of trading to ensure fairness and efficiency. Stock markets perform an important role in making sure that there is fair pricing in the market. The mechanism of the stock market enables buyers and sellers of securities, to receive the best price possible for a particular stock. There are several roles and func...
Osborne, Keith (1998), 'Auditing the IT Security Function', Computers &, Security, Vol. 17, NO.1, pp35-39.
This book details the “adventures” of Jim Barton, the head of Loan Operations for IVK, Inc. Barton was the head of Loan Operations until his boss, CEO Carl Williams, asks him to become the CIO in order to help turn the IT department around. The only disadvantage is that Jim does not have any kind of background or extensive knowledge of IT.
Top companies need to develop a strong performance anatomy which allows them to continually pursue customer-valued innovations and differentiate from the competitors. And an increasingly important component of this strong performance anatomy is the company’s IT capability which allows a business focussed on high performance to create and act on customer and business insights in real time, create new products and services and transform business models. Likewise a strong and proactive IT governance model is also important which insures that business leaders are involved in planning and aligning IT initiatives with business priorities which is well understood by Accenture. And the company’s IT governance demands are particularly heavy as well being a heavily matrixed organization with five operating groups, 17 focused industry grou...
As threats evolve and change with each new technology introduced organizations will also have to strive to improve the techniques used to protect their critical Information Technology (IT) assets. Gartner's IT Key Metrics Data for 2010 which was based on a survey of companies worldwide found that a company spent 5% of their IT budget on IT Security (Kirk, 2010). Connie Guglielmo, a Forbes staff member noted that IT spending will hit $2 Trillion in 2013 and Worldwide IT spending will rise 4.6 percent this year (Guglielmo, 2013).
Recently, IT governance has been a mainly factor for fulfill business need from investing in IT area. In addition, Sarbanes-Oxley Act (SOX) mentioned IT governance issues for enhancing internal contro...
CHANDLER, M. K. AND SAYLES, L. B., Managing Large Systems, Harper & Row, New York, 1971
Information Technology (IT) is a foundation for conducting business today. It plays a critical role in increasing productivity of firms and entire nation. It is proven that firms who invested in IT have experienced continued growth in productivity and efficiency. Many companies' survival and even existence without use of IT is unimaginable. IT has become the largest component of capital investment for companies in the United States and many other countries.
Small-time investors with the know how of managing their own finaces have found online trading to be very beneficial. They now have found ways to buy individual stocks at a cheap price without paying all the fees asociated with the full service broker. These investors can go into numerous web sites to get information on any particular stock they are interested in. Many of these web sites are designed for the invstor ju...
Moreover, artificial intelligence systems can increase the accuracy of the outputs. Thus many artificial intelligence programs are being implemented and used as stock trades solutions. The stock trades will be made without any human intervention which will reduce and minimize the human errors. Further, it will reduce any extra costs like human wages for the stock trade activity.
Systemically important payment systems include the large value payment system MEPS+ and securities and derivatives clearing and settlement systems operated by the Singapore Exchange (SGX). Two financial central counterparty clearing house (CCPs) are the Central Depository (Pte) Limited (CDP) that clears equities and corporate debt securities; and the Singapore Exchange Derivatives Clearing Limited (SGX-DC) that clears exchange traded and OTC derivatives. CDP’s value of transactions processed was equivalent to 94 percent of GDP in 2012. Worldwide, SGX- DC is the eighth largest clearer in exchange traded equity index futures. Singapore is also one of the largest trading centres for OTC derivatives in Asia. CDP and SGX-DC are assessed as effective and efficient CCPs with sound risk management frameworks. Both CCPs comply with relevant international standards. They are guided by SGX’s comprehensive and transparent risk management framework comprising clear policies, sound governance arrangements and operational systems, accompanied with business continuity procedures that are regularly tested. The CCPs apply a comprehensive credit risk management framework which serves to maintain sufficient financial resources to cover the default of the clearing member and its affiliates with the largest exposure, as well as the default of the two financially weakest clearing members. However, SGX’s
Nowadays with the implementation of new emerging technologies, the way businesses keep this financial information has become computerised. At the moment businesses use computers with a computerised accounting system in order to perform many other new activities than what they were able to do in the past. Businesses can access financial information from different department in the organisation, access to the information through computers and find financial data very fast, being more efficient. (Beliss, 2013)
Information Technology (IT) can be regarded as one of the fastest booming sectors, which contributes to the overall growth of business...