Terryl Diki
March 4, 2025 10:12
CMU omnickle and HKEX signed the MOU to improve Hong Kong’s non -trading securities infrastructure, focusing on cross -set efficiency and RMB internationalization.
In order to strengthen Hong Kong’s position as an international financial hub, CMU OMNICLEAR LIMITED, Hong Kong Excarnes and Clearing Limited (HKEX), a subsidiary of Exchange Fund, signed a memorandum (MOU). This strategic contract aims to strengthen the securities infrastructure after the trading of the Hong Kong capital market and to support long -term development of fixed income and currency ecosystem.
The main area of cooperation
The MOU briefly explains the areas of cooperation, such as achieving cross set class efficiency between stocks and fixed income, expanding the use of mainland bonds and strengthening Hong Kong’s role as a bond issuing center. In addition, this partnership aims to integrate Hong Kong’s status as a global risk management center by developing the International Central Securities Store (ICSD) in Asia and integrating overseas RENMINBI (RMB) business hubs.
Majority
Eddie Yue, the chief executive of the Hong Kong Monetary Authority (HKMA) and chairman of the CMU OmNICLEAR, expressed his passion for cooperation. “This MOU is an important milestone and a common promise to support the development of the capital market in Hong Kong. We believe that with our collective efforts, we can provide continuous development and innovation by providing wider products to the market on asset classes.”
Bonnie Chan, the chief executive of HKEX, reversed this feeling. “This contract emphasized HKEX’s strategic dedication to HKEX’s Hong Kong and the world’s best FIC ecosystem. We are looking forward to the development of the Hong Kong fixed income market by closely cooperating with HKMA and CMU Omnicle.”
Impact on the financial sector in Hong Kong
Partnerships between CMU omnickle and HKEX are expected to have a significant impact on Hong Kong’s financial sectors. Initiative aims to attract global investors and to improve Hong Kong’s competitiveness as a financial center by focusing on cross -evaluation efficiency and internationalization of RMB. The development of ICSD in Asia is particularly noteworthy. This is because it can simplify the operation and reduce the cost of market participants.
According to the Hong Kong monetary authorities, the MOU is a pivotal stage of converting the Central Moneymarkets Unit (CMU) into local securities deposits and further solidifies the financial ecosystem of Hong Kong.
The cooperation between CMU OmnicLear and HKEX is an international financial center that matches a wide range of efforts to maintain Hong Kong’s status. As the financial environment continues to develop, these partnerships are essential to adapt to new challenges and opportunities.
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