Hong Kong Exchanges and Clearing Limited (HKEX) introduces "Synapse," a smart contract-based equities settlement platform.
"Synapse" aims to streamline post-trade processes, enhancing operational efficiency.
The platform will operate on Stock Connect, providing access to over 1,000 mainland Chinese stocks for international investors.
Northbound Stock Connect turnover saw a 5% increase in H1 2023, totaling RMB109.3 billion.
HKEX will connect to Hong Kong’s Depository Trust and Clearing Corporation for central matching of cross-border transactions.
The Synapse platform automates settlement instructions, improving trade confirmation workflows.
Hong Kong emerges as a Web3 hub, allowing licensed crypto exchanges, but faces challenges, including a significant Ponzi scheme investigation.