Hong Kong Exchanges and Clearing Ltd (HKEX) Enters Agreement with Unit of Shenzhen Stock Exchange

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce that it has signed a cooperation agreement with a unit of Shenzhen Stock Exchange (SZSE), to support the development of HKEX’s Integrated Fund Platform (IFP).

This cooperation will see Shenzhen Securities Communication Co. Ltd (SSCC) establish the Financial Data Exchange Platform (FDEP) Network in Hong Kong.

The network will serve as a foundation for the IFP’s Communications Network, which will allow users of the IFP “to communicate effectively and support key processes such as subscriptions, redemptions and notifications.”

Glenda So, HKEX Co-Head of Markets said:

“We are delighted to be entering into this cooperation with Shenzhen Stock Exchange to support the development of HKEX’s Integrated Fund Platform. This collaboration will not only contribute to the continued growth of Hong Kong’s fund ecosystem, but also reinforce Hong Kong’s role as a global wealth management centre, while laying the foundation for increased cross-border connectivity in the future.”

The IFP under development is a platform that will “support the entire fund value chain and overall ecosystem in Hong Kong, aiming to reduce barriers of entry to the industry and enable market participants to more effectively distribute fund products to their clients.”

It will also help to expand Hong Kong’s fund distribution network, “enhance market efficiency and lower transaction costs.”

HKEX has been working closely “with regulators and industry participants and continues to value ideas and feedback from stakeholders that will help shape the development of the IFP.”

HKEX will share further details on the platform’s development in due course.

SSCC is a member of SZSE and is mainly “responsible for the trading and settlement communications of Shenzhen’s stock market, supporting the construction of the core application systems of SZSE, and providing financial technology services such as the information technology center, the FDEP, and cloud and fintech services to financial institutions.”

As covered, Hong Kong Exchanges and Clearing Limited (HKEX) is a “publicly-traded company (HKEX Stock Code: 388) and one of the world’s leading global exchange groups, offering a range of equity, derivative, commodity, fixed income and other financial markets, products and services, including the London Metal Exchange.”

As a superconnector and gateway between East and West, HKEX facilitates the two-way flow of capital, ideas and dialogue “between China and the rest of the world, through its pioneering Connect schemes, increasingly diversified product ecosystem and its deep, liquid and international markets.”

HKEX is a purpose-led organization which, “across its business and through the work of HKEX Foundation, seeks to connect, promote and progress its markets and the communities it supports for the prosperity of all.”

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