Securities & Futures Commission Chief Executive Officer Martin Wheatley says regulators should be alert to the risks that new technologies and developments may bring to the financial market - and address them pragmatically.

Speaking at the 6th Asia Pacific Trading Summit today, Mr Wheatley said the emergence of alternative trading venues and the increasing use of highly advanced trading tools are posing greater regulatory challenges.

"As regulators, our job is to find an appropriate balance between facilitating market development and protecting investors - not always easy when there are conflicting interests and views, and a constant evolving financial landscape," he said.

Mr Wheatley said Hong Kong's legislative framework allows for a fairly flexible approach to regulating alternative trading systems. As Asia is beginning to see the emergence of such platforms, it will have to start reviewing their regulatory frameworks to see what enhancements are needed.

Mr Wheatley encouraged market participants to engage regulators early in the process of exploring new strategies so that issues and concerns can be thrashed out with minimum disruption to timetables.