Settlement platform for Stock Connect trades

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. Digital Asset has been selected as the vendor to develop HKEX Synapse.

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.