HKEX to Introduce New Post-Trade Services on Orion Cash Platform

香港交易所脈搏/HKEx Pulse

2024-12-12

导读：New features and services to be rolled out progressively beginning mid-2025

HKEX is pleased to announce today that it is embarking on a multi-year post-trade services enhancement programme for its cash equities market, reflecting the Group’s ongoing commitment to build future-ready market infrastructure.

Starting from mid-2025, new features will be progressively added to the Orion Cash Platform (OCP), HKEX’s integrated cash market platform, to provide more advanced, reliable and efficient post-trade services for the securities market.

New features include automated post-trade report download and information exchange, as well as enabling real-time transmission and processing of trade data, related positions and reference data, and real-time matching of settlement instructions. As part of the enhancement programme, HKEX’s post-trade systems will become technically ready to support a T+1 settlement cycle by the end of 2025, though any future changes to Hong Kong’s settlement cycle will be subject to extensive market engagement.

Bonnie Y Chan

Chief Executive Officer, HKEX

At HKEX, we are committed to the long-term vibrancy of Hong Kong’s capital markets through ongoing investment in our technology and market infrastructure. We are pleased to be launching the modernisation programme for our cash market platform, developing the capabilities for real-time and more efficient post-trade services. The ongoing development of OCP will ensure that our markets remain well-positioned for future opportunities as they continue to expand in breadth and diversity, strengthening Hong Kong’s status as an IFC.

HKEX will progressively introduce these new post-trade features and services on OCP, with respective release dates to be announced in due course.

Meanwhile, HKEX will continue to provide core post-trade processing through its Central Clearing and Settlement System (CCASS). HKEX will engage with stakeholders and market participants on the future of CCASS as the new OCP post-trade features progressively become available.

HKEX Group Chief Information Officer, Richard Leung, said: “Platform development is a core part of HKEX’s strategy to futureproof its business and its markets. We are delighted to adopt modular architecture to introduce new post-trade features, in order to provide maximum flexibility for market adoption. We look forward to engaging and collaborating with our market participants on this infrastructure advancement journey, as together we work to enhance the competitiveness of Hong Kong’s capital markets.”

Earlier this year, HKEX also announced plans to develop the new Orion Derivatives Platform (ODP) for Hong Kong’s derivatives market. The ODP and OCP development demonstrate the Group’s strategic focus on building the long-term resilience of Hong Kong’s market infrastructure with technology developed in-house.

For more details on HKEX’s post-trade services enhancements scheduled for 2025 – 2027, please refer to the circular published today.

Click Read More for more details.

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