HKEX to launch smart contract settlement platform
Hong Kong Exchanges and Clearing Limited (HKEX) announced on Wednesday that it is implementing a smart contract upgrade to its Connect, a system that bridges Hong Kong and China’s stock markets, to enhance post-trade workflows and reduce settlement risk.
See related article: SFC to monitor illegal VATP activities with Hong Kong Police Force
Fast Facts
- Set to launch on Oct. 9, Synapse, the new settlement accelerator, aims to improve market efficiency and transparency, through a smart contract upgrade to HKEX’s Connect system.
- Synapse enables all parties in the settlement chain to create simultaneous settlement instructions while providing nearly instant updates to all traders.
- “This technology-empowered platform will not only improve post-trade efficiencies but will, over time, build a better, stronger ecosystem, supporting both market growth and investor growth strategies,” said Glenda So, the group head of emerging business and FIC, in a press release.
- HKEX’s upgrade comes during a period of increased institutional interest in blockchain technology, two weeks after the third largest banking institution in the U.S., Citigroup, announced the launch of a blockchain-based cross-border payments solution for institutional clients called Citi Token Services.
See related article: Hong Kong may tighten enforcement amidst JPEX scandal, says former SFC official
Read More
HKEX to launch smart contract settlement platform
Hong Kong Exchanges and Clearing Limited (HKEX) announced on Wednesday that it is implementing a smart contract upgrade to its Connect, a system that bridges Hong Kong and China’s stock markets, to enhance post-trade workflows and reduce settlement risk.
See related article: SFC to monitor illegal VATP activities with Hong Kong Police Force
Fast Facts
- Set to launch on Oct. 9, Synapse, the new settlement accelerator, aims to improve market efficiency and transparency, through a smart contract upgrade to HKEX’s Connect system.
- Synapse enables all parties in the settlement chain to create simultaneous settlement instructions while providing nearly instant updates to all traders.
- “This technology-empowered platform will not only improve post-trade efficiencies but will, over time, build a better, stronger ecosystem, supporting both market growth and investor growth strategies,” said Glenda So, the group head of emerging business and FIC, in a press release.
- HKEX’s upgrade comes during a period of increased institutional interest in blockchain technology, two weeks after the third largest banking institution in the U.S., Citigroup, announced the launch of a blockchain-based cross-border payments solution for institutional clients called Citi Token Services.
See related article: Hong Kong may tighten enforcement amidst JPEX scandal, says former SFC official
Read More