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Terrill Dicki Mar 04, 2025 10:12 CMU OmniClear and HKEX sign an MOU to enhance post-trade securities infrastructure in Hong Kong, focusing on cross-asset efficiencies and RMB internationalization. In a move to strengthen Hong Kong’s position as an international financial hub, CMU OmniClear Limited, a subsidiary of the Exchange Fund, and Hong Kong Exchanges and Clearing Limited (HKEX) have signed a Memorandum of Understanding (MOU). This strategic agreement aims to enhance the post-trade securities infrastructure of Hong Kong’s capital markets and support the long-term development of its fixed-income and currencies ecosystem. Key Areas of Cooperation The MOU outlines several areas for collaboration, including achieving cross-asset class efficiencies between equities and fixed income, expanding the use of Mainland bonds as collateral, and enhancing Hong Kong’s role as a bond issuance center. Furthermore, the partnership aims to develop an international central securities depository (ICSD) in Asia, thereby consolidating Hong Kong’s status as a global risk management center and an offshore Renminbi (RMB) business hub. Statements from Key Figures Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA) and Chairperson of the Board of Directors of CMU OmniClear, expressed enthusiasm about the collaboration. He noted, “This MOU signifies an important milestone and our shared commitment to supporting the development of Hong Kong’s capital markets. With our collective efforts, we believe we can offer the market a wider spectrum of products across asset classes, fostering continued development and innovation.” Bonnie Chan, Chief Executive Officer at HKEX, echoed this sentiment, stating, “This agreement underscores HKEX’s strategic commitment to build a vibrant, world-leading FIC ecosystem in Hong Kong. We look forward to working closely with the HKMA and CMU OmniClear to advance the development of Hong Kong’s fixed-income market.” Implications for Hong Kong’s Financial Sector The partnership between CMU OmniClear and HKEX is expected…

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Filed under: News - @ March 4, 2025 11:23 am