{"id":60837,"date":"2023-10-04T17:36:20","date_gmt":"2023-10-04T21:36:20","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=60837"},"modified":"2023-10-04T17:41:02","modified_gmt":"2023-10-04T21:41:02","slug":"hong-kong-stock-exchange-launches-settlement-platform","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hong-kong-stock-exchange-launches-settlement-platform\/","title":{"rendered":"Hong Kong Stock Exchange Launches Settlement Platform"},"content":{"rendered":"\n

Hong Kong Exchanges and Clearing Limited<\/a> (HKEX) is introducing cutting-edge equities settlement acceleration technology.<\/p>\n\n\n\n

\"Hong
Hong Kong Stock Exchange Launches Settlement Platform<\/figcaption><\/figure>\n\n\n\n

The platform, known as “Synapse,” would use smart contracts written in the DAML programming language to improve operational effectiveness and streamline post-trade flows, according to a statement made on October 4. <\/p>\n\n\n\n

Synapse will be put into use on Stock Connect, a HKEX channel that allows foreign investors to route through Hong Kong <\/a>and access more than 1,000 Mainland Chinese stocks. “<\/p>\n\n\n\n

Average daily turnover of Northbound Stock Connect totaled RMB109.3 billion in the first half of 2023, up 5 percent from a year earlier, and a 50 per cent increase from 2020 levels,” developers wrote.<\/p>\n\n\n\n

Through its Institutional Trade Processing \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>(ITP) service, HKEX will be connected to Hong Kong's Depository Trust & Clearing Corporation (DTCC), enabling the central matching of international transactions. <\/p>\n\n\n\n

The transaction confirmation workflow is then improved by automatically generating settlement instructions and sending them back to the Synapse platform.<\/p>\n\n\n\n

With the introduction of retail trading for authorized cryptocurrency exchanges<\/a> in August, Hong Kong has quietly developed into a hotspot for Web3 companies. <\/p>\n\n\n\n

However, the biggest Ponzi fraud in Hong Kong history also took place around this period, with the JPEX cryptocurrency exchange stealing an estimated $166 million in user cash. The inquiry is still ongoing. <\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong Exchanges and Clearing Limited (HKEX) is introducing cutting-edge equities settlement acceleration technology. The platform, known as “Synapse,” would use smart contracts written in the DAML programming language to improve operational effectiveness and streamline post-trade flows, according to a statement made on October 4. Synapse will be put into use on Stock Connect, a […]<\/p>\n","protected":false},"author":43,"featured_media":60839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1134,16645,16646],"class_list":["post-60837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hong-kong","tag-hong-kong-stock-exchange","tag-synaps"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/croc_1696451407695.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=60837"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/60839"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=60837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=60837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=60837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}