Investors may soon be allowed to enlist more than one clearing bank for their cash equities and options trades on the Hong Kong Exchanges and Clearing (0388).
The Securities and Futures Commission has "recently received a proposal from HKEX on accepting multiple general clearing participants for the cash and stock options markets and are currently reviewing it," a spokesperson for the regulator said.
Hong Kong is pushing to revive its struggling stock market, which has slid for four years in row. It has unveiled more than a dozen measures including cutting the city's stamp duty, deepening the trading link with China and attempting to get more international companies to list.
"HKEX is committed to continuously elevating the competitiveness and resilience of its markets, including further enhancements to its third-party clearing arrangements," a spokesperson for the bourse said. "We will update the market should there be new developments."
