HKEX Proposes Plan for Multiple Clearing Banks for Cash Trades
- More choices seen as allowing lower fees, better services
- Hong Kong striving to revive hub status by boosting liquidity
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Investors may soon be allowed to enlist more than one clearing bank for their cash equities and options trades on the Hong Kong Exchanges & Clearing Ltd.
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.