Japanese investment bank Daiwa Securities has transferred its Hong Kong business onto a new post-trade processing platform built by specialist vendor Torstone. The bank says the move is part of a long-term plan to revamp its back-office technology in the city, as Hong Kong steps up its role in the integration of China’s capital markets into the global mainstream.
Hong Kong’s share of the international Renminbi market has fallen over the past two years as other countries increase their share, which now stands at 25% compared to 17% in February 2013
Deutsche Börse, Eurex and the Bombay Stock Exchange have further extended their strategic cooperation offering connectivity services. Participants of BSE will be able to use Deutsche Börse’s resilient low latency N7 network services to connect to BSE back-ends in India through the Deutsche Börse access points in Hong Kong and Singapore.
A landmark deal between China’s Hong Kong and Shanghai stock exchanges is set to open up unrestricted access to the China A-shares market to foreign investors for the first time, starting this month. The deal also reflects the rising internationalisation of the Chinese renminbi currency worldwide.
Hong Kong has become the second jurisdiction to sign up to use Swift’s Market Infrastructure Resiliency Service to improve operation of its real-time gross settlement system.
As the global banks grapple with tides of regulation, fines, and a myriad of other post-crisis issues, local Asian institutions are tooling up and stepping in to fill the gaps.
Standard Chartered Bank’s New York business has been ordered to suspend US dollar clearing services to retail clients of the bank in Hong Kong, following an investigation by the New York State Department which determined its transaction monitoring system does not meet anti-money laundering requirements.
China’s Hong Kong and Shanghai stock exchanges are poised to build a major new link that will open up mainland China’s capital markets to foreign investors and vice versa.
Standard Chartered Hong Kong has opened its first ‘digital’ branch, in which customers are greeted by giant screen TVs, the bank’s mobile apps in a special experience zone, and QR code scanning on an iWall, as well as e-signature pads and virtual queuing.
National Australia Bank in Hong Kong has installed Thomson Reuters’ Eikon desktop across its trading floor in a move that the bank says will increase staff productivity and drive up cross-market communication.
Hong Kong Exchanges and Clearing has connected its equity and derivatives markets to MarketPrizm, a market data and infrastructure service targeted at low-latency trading firms.
Hong Kong Mercantile Exchange has joined the BT Radianz Cloud, a network that the exchange hopes will help better connect it to investors from the outside world.
Hong Kong Exchanges and Clearing has improved its connectivity to the outside world, through a deal with low-latency specialist Telstra Global at its new data centre at Tseung Kwan O.
