Tuesday November 5 2024
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Country: Hong Kong
On 5th November 2024, Hong Kong Exchanges and Clearing Limited (HKEX) announced its plans to digitise and automate the in-kind creation and redemption process for relevant exchange-traded products (ETP) in 2025 through the adoption of a web-based platform, subject to technical readiness and regulatory approval.
This platform will be integrated into the ETP creation and redemption process, connecting key ETP participants with the use of Distributed Ledger Technology (DLT) and smart contracts, and will help increase overall ETP market efficiency, supporting the continued growth of secondary market activity for ETPs.
This latest enhancement is part of the Group’s ongoing commitment to further elevate the attractiveness and competitiveness of its international ETP ecosystem, replacing several manual, paper-based processes currently present with a goal to simplify the creation and redemption procedures of ETPs and boost market activity.
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