HKEX to test new settlement platform

Hong Kong Exchanges and Clearing (0388) announced that the new stock platform Fast Interface for New Issuance will start user testing tomorrow, preparing for its official launch later this year.

HKEX said it was happy that most IPO marketeers had registered as FINI users and it had published information documents to guide user testing.

The exchange will arrange a market-wide exercise and announce the official launch date of FINI after the market is ready.

It said it had been investing in constructing the FINI platform and various preparations to fully modernize and digitize the Hong Kong IPO settlement procedures and strive to build a leading market for the future.

The bourse operator expects that the introduction of FINI will give investors quicker access to new listings, reduce market risk and improve efficiency for all parties involved.