Hong Kong Exchanges and Clearing Limited (HKEX) has signed a cooperation agreement with a unit of Shenzhen Stock Exchange (SZSE), to support the development of HKEX’s Integrated Fund Platform (IFP).
This cooperation will see Shenzhen Securities Communication Co. Ltd (SSCC) establish the Financial Data Exchange Platform (FDEP) Network in Hong Kong. The network will serve as a foundation for the IFP’s Communications Network, which will allow users of the IFP to communicate effectively and support key processes such as subscriptions, redemptions and notifications.
Glenda So, HKEX Co-Head of Markets said:
“We are delighted to be entering into this cooperation with Shenzhen Stock Exchange to support the development of HKEX’s Integrated Fund Platform. This collaboration will not only contribute to the continued growth of Hong Kong’s fund ecosystem, but also reinforce Hong Kong’s role as a global wealth management centre, while laying the foundation for increased cross-border connectivity in the future.”
The IFP under development is a platform that will support the entire fund value chain and overall ecosystem in Hong Kong, aiming to reduce barriers of entry to the industry and enable market participants to more effectively distribute fund products to their clients. It will also help to expand Hong Kong’s fund distribution network, enhance market efficiency and lower transaction costs.
HKEX has been working closely with regulators and industry participants and continues to value ideas and feedback from stakeholders that will help shape the development of the IFP.
SSCC is a member of SZSE and is mainly responsible for the trading and settlement communications of Shenzhen’s stock market, supporting the construction of the core application systems of SZSE, and providing financial technology services such as the information technology center, the FDEP, and cloud and fintech services to financial institutions.
