HKEX is working on upgrading its post-trade infrastructure across all of its business processes and systems, including technology for its CCP and CSD.
The plan was highlighted as one of HKEX’s top strategic priorities in order to cater for the needs of Mainland China and international investors.
HKEX will develop new systems for the proposed paperless regime, which could be in place by early 2022.
Cindy Chen will oversee the post-trade business development team, as well as the blockchain project HKEX is working on with Digital Asset.
Despite being lauded for its potential to revolutionise the financial ecosystem, concerns remain over the energy use of blockchain after widespread reports of its impact on the environment.
HKEX will trial the technology to help complete post-trade allocations and processing for northbound trades under Stock Connect within a tight settlement window.