HKEX partners with CMU OmniClear on securities infrastructure upgrade

Hong Kong Exchanges and Clearing (0388) announced on Tuesday a partnership with CMU OmniClear, a company that operates the Central Moneymarkets Unit on behalf of the Hong Kong Monetary Authority, to enhance post-trade securities infrastructure in the capital markets.

They have signed a memorandum of understanding to seek to provide the foundation for the rollout of enhancements to bond settlement and collateral management operations and the further expansion of risk management products.

HKMA chief executive and CMU OmniClear's chairman Eddie Yue Wai-man said that the MOU is a pivotal step in accelerating the transformation of CMU into an international central securities depository in Asia.

HKEX chief executive Bonnie Chan Yi-ting said that the exchange looks forward to working closely with the HKMA and CMU OmniClear to advance the development of the city’s fixed-income market, enabling the next chapter of yuan internationalization and enhancing Hong Kong’s status as an international financial and global risk management center as well as an offshore yuan business hub.

STAFF REPORTER