Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to confirm today (Wednesday) that it has submitted an application to launch a Renminbi (RMB) counter for trading of HKEX shares as part of the new Hong Kong Dollar (HKD)-RMB Dual Counter Model.
The launch of RMB counter trading under the HKD-RMB Dual Counter Model will allow investors to seamlessly interchange between securities listed in both HKD and RMB, offering a choice of trading currency and the potential to access new liquidity.
HKEX Chief Executive Officer Nicolas Aguzin said: “The addition of an RMB Counter for the trading of HKEX shares underscores our commitment to the Dual Counter Model’s successful rollout. This new programme offers investors more choice, greater flexibility and the opportunity to tap into new liquidity pools. As a market operator and as a corporate, we look forward to delivering this new initiative, strengthening Hong Kong’s position as a premier offshore RMB hub and supporting the internationalisation of the RMB.”
The commencement date and arrangements for trading and settlement of HKEX shares denominated in RMB under the HKD-RMB Dual Counter Model will be announced in due course.
HKEX, as market operator, recently announced the launch of a new HKD-RMB Dual Counter Model in the securities market and a new Dual Counter Market Making Programme to support liquidity of RMB Counters and minimise discrepancies between the two counters. Further information about the Model and other operational details are available on the HKEX website and in a circular published in December 2022.
About HKEX
Hong Kong Exchanges and Clearing Limited (HKEX) is a publicly-traded company (HKEX Stock Code: 388) and one of the world’s leading global exchange groups, offering a range of equity, derivative, commodity, fixed income and other financial markets, products and services, including the London Metal Exchange.
As a superconnector and gateway between East and West, HKEX facilitates the two-way flow of capital, ideas and dialogue between China and the rest of the world, through its pioneering Connect schemes, increasingly diversified product ecosystem and its deep, liquid and international markets.
HKEX is a purpose-led organisation which, across its business and through the work of HKEX Foundation, seeks to connect, promote and progress its markets and the communities it supports for the prosperity of all.
www.hkexgroup.com
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