Hong Kong Exchanges and Clearing Restricted (HKEX) introduced on Wednesday that it’s implementing a wise contract improve to its Join, a system that bridges Hong Kong and China’s inventory markets, to reinforce post-trade workflows and cut back settlement threat.
See associated article: SFC to observe unlawful VATP actions with Hong Kong Police Drive
- Set to launch on Oct. 9, Synapse, the brand new settlement accelerator, goals to enhance market effectivity and transparency, by means of a wise contract improve to HKEX’s Join system.
- Synapse allows all events within the settlement chain to create simultaneous settlement directions whereas offering almost immediate updates to all merchants.
- “This technology-empowered platform is not going to solely enhance post-trade efficiencies however will, over time, construct a greater, stronger ecosystem, supporting each market progress and investor progress methods,” mentioned Glenda So, the group head of rising enterprise and FIC, in a press launch.
- HKEX’s improve comes throughout a interval of elevated institutional curiosity in blockchain know-how, two weeks after the third largest banking establishment within the U.S., Citigroup, introduced the launch of a blockchain-based cross-border funds answer for institutional purchasers referred to as Citi Token Companies.
See associated article: Hong Kong could tighten enforcement amidst JPEX scandal, says former SFC official