TWS 3.0 is a PC based version that will be eventually phased out when all the functionality (order depth for one) is available via the Java version.
RE: HSI futures.
Currently you'll need to open up a new account and fund with HK dollars. You'll get a different login name. (We soon may do FX transactions and may support multiple currency accounts but there are a number of regulatory hurdles that have to be solved. The Java platform actually may make things easier in this regard but I won't go into that here).
Our HSI data feed is direct from the exchange and is dead on. Our entry speed is also great. The HKFE uses a different version of the OM trading system than ISE but we've got dedicated API's for clients and it is very fast. (On our prop side I use the TWS instead of the exchange click system as I find it easier and less error prone to enter orders). From our office the orders are virtually instant. From the states I imagine it will be about 300 milliseconds to execute a trade.
Hours are 9:45 AM till 12:30, then 2:30-4:15. (currently 13 hour time diff from NY but will change to 12 in a few weeks). Thus maybe not the most appropriate thing to trade from the East cost but from the west coast it's a different story.
As far as outside price feeds/charts... I'll have to check.
http://www.quotepower.com (maybe .com.hk) is one. infocast, as well as a few others may have what you need. the HK exchanges web site
http://www.hkex.com.hk has a link with a list of data vendors. (http://www.hkex.com.hk/invest/infovendors/hkfeinfovendors.htm)
There are two futures available HSI and MHI. 1 HSI = 5 MHI. The multiplier for HSI is 50HKD (about 6.25 USD). Margin for HSI is 62,500 HKD per contract.
I'd say this market is not for everyone as it can move very fast. If not sure, start with the mini. It is not as liquid but your downside is alot less.
