Hong Kong Exchanges and Clearing (0388) said it will modernize the fee structure to make charges simpler, fairer and more predictable, aligning costs with the way a digital market operates and supporting sustainable growth.
In an article on HKEX, chief operating officer Vanessa Lau said uncertificated securities market is an industry‑wide effort and prescribed securities will become participating securities in batches during a phased transition.
Issuers will announce their USM transition plans in due course, she said.
During the transition, both certificated and uncertificated holdings will be kept running until the transition of the system is completed – an approach designed for readiness and continuity, Lau said.
HKEX will work closely with intermediaries and issuers to plan and implement necessary system enhancements and run practice sessions to help participants familiarise themselves with the upgraded infrastructure and processing timeline, she said.
USM reduces everyday friction across trading and post‑trade, builds confidence through clearer records and makes the markets more accessible and attractive to a broader set of participants, she noted.
For investors, simpler processes and better information translate into lower costs, fewer delays and greater certainty, she added.
