Hong Kong Exchanges and Clearing and the Hong Kong Monetary Authority launch a pilot project to provide digital payment solutions for post-market trading sessions of derivative products

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BlockBeats News, June 18 — On June 18, Hong Kong Exchanges and Clearing Limited (HKEX) and the Hong Kong Monetary Authority (HKMA) announced today the launch of a joint pilot program to explore new digital payment solutions during the trading-after-close hours for the derivatives market. This pilot program aims to optimize Hong Kong’s capital markets and meet the market’s growing demand for continued trading during after-hours.

Hong Kong Exchanges and Clearing and the HKMA are studying the introduction of “Digital Hong Kong Dollar” — a wholesale central bank digital currency (CBDC) at the wholesale level with a 24/7 operating model — to be used for paying pre-funded margin deposits during the after-hours trading session, in order to enhance the derivatives market’s risk management capabilities beyond banking operating hours, while maintaining existing operational workflows unchanged. (Jin10)

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