HKEX informs China Connect Exchange Participants of pending launch of new trading platform

Maria Nikolova

HKEX intends to introduce a new trading platform for Northbound Trading under Stock Connect to replace the current China Stock Connect System in the middle of 2019.

HKEX has earlier today published a circular informing China Connect Exchange Participants (CCEPs) of its plans to introduce a new trading platform.

The new platform for Northbound Trading under Stock Connect, which is set to replace the current China Stock Connect System (CSC), is poised to be released in the middle of 2019. The new solution, Orion Trading Platform – China Stock Connect (OTP-CSC), is developed based on open systems, which provides greater flexibility to support new functionalities and increased trading capacity requirements.

The migration to OTP-CSC mainly involves changes of HKEX’s host system. As CCEPs are connecting with HKEX’s host system via China Connect Central Gateway (CCCG) and, if applicable, Orion Market Data Platform – China Stock Connect (OMD-CC), they are not expected to have to make changes to their systems. CCEPs, however, will be required to participate in conformance tests before OTP-CSC rollout, and therefore are advised to plan for resources for testing and rollout in the first half of 2019.

HKEX has published an Information Paper in the dedicated “OTP-CSC” section on HKEX website. The Information Paper provides an overview of the OTP-CSC migration, preparation efforts required, and schedule for CCEPs to prepare for the implementation of the OTP-CSC.

In order to facilitate future communication related to OTP-CSC implementation, CCEPs are required to complete and return the form in Attachment 1 to HKEX on or before 12 October 2018 to designate their contact persons for OTP-CSC project.

Less than a fortnight ago, the investor identification model for Northbound trading (NB Investor ID Model) through the mutual stock market access program of Hong Kong Exchanges and Clearing Limited (HKEX) and the exchanges in Shanghai and Shenzhen (Stock Connect) was launched. Implementation of the NB Investor ID Model is anticipated to result in more efficient Hong Kong-Mainland cross-border market surveillance.

Read this next

Digital Assets

Luxembourg’s regulator warns on false regulation of Crypto Capital Profits

The regulator of Luxembourg’s financial markets, the Commission de Surveillance du Secteur Financier (CSSF), has warned that a firm claiming to be authorized under the name Crypto Capital Profits is in fact not licensed to carry out business from within its jurisdiction.

Institutional FX

FINRA fines Wedbush $900K over reporting violations

The Financial Industry Regulatory Authority continues to take disciplinary actions against financial services firms for providing inaccurate securities trading information.

Digital Assets

Bitkub investigated by Thai regulator in ‘wash trading’ case

Thailand’s Securities and Exchange Commission has targeted Bitkub over allegations of inaccurate reporting and wash trading on its cryptocurrency platform.

Crypto Insider secures approval to launch its services in France has registered its cryptocurrency services with the dual regulatory structure in France, which includes the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).

Inside View

How to offer iOS compliant trading apps? Editorial by Chris Rowe

Webtraders are becoming increasingly important for FX and CFD brokers as more and more of their clients are trading using their mobiles. 

Institutional FX

SpiderRock deploys Eventus trade surveillance for futures and options offering

“As we have begun to provide direct market access as a routing broker and grown in our futures offering, which is subject to a different regulator, we wanted to make sure we chose a trade surveillance platform that has all the tools that we need, a format we can review easily, and capabilities to demonstrate to regulators that we have the proper trade surveillance procedures in place. Validus checks all the boxes for us.”

Industry News

Space and Time raises $20 million to grow its decentralized data warehouse

“We look forward to seeing the ways in which Space and Time will allow the business logic in centralized systems to be automated and connected directly to smart contracts.”

Digital Assets

Mastercard, hi app partner to issue cards with NFT avatars

In partnership with Mastercard, crypto and fiat financial app hi is launching what it calls “the world’s first debit card featuring NFT avatar customization.”

Digital Assets

Wirex to support government of Uzbekistan to adopt blockchain

“We’re excited to work alongside the Uzbekistan Direct Investment Fund in order to help the sector thrive, enrich the financial ecosystem there and set a benchmark for other countries, and ultimately expand.”