Hong Kong Exchanges and Clearing has introduced a new settlement acceleration platform for its landmark Stock Connect program, HKEX Synapse. HKEX is partnering with The Depository Trust & Clearing Corporation to link HKEX Synapse to DTCC’s institutional trade processing services. Global investors and HKEX participants will be able to enjoy central matching of cross-border transactions on the Synapse platform, automating the trade confirmation and settlement notification process. HKEX Synapse will help institutional investors participating in Northbound Stock Connect to better manage their post-trade operations across different time zones, in particular with regard to adhering to the mainland securities market’s T+0 settlement cycle. Using DAML smart contracts, HKEX Synapse will standardize and streamline the post-trade workflows of Northbound Stock Connect.

Source: The Standard November 24, 2020 05:41 UTC