Hong Kong Exchange Launches DAML-Based Settlement Platform to Enhance Post-Trade Processes

by | Feb 22, 2024 | Latest News, Market News | 0 comments

Latest News

Latest News

View more

Hong Kong Exchanges and Clearing Limited (HKEX), a publicly-traded marketplace operator, is ready to introduce a blockchain-based totally settlement platform named HKEX Synapse. The platform’s number one objective is to enhance operational efficiencies, lessen agreement dangers, and expand transparency through using clever contracts to streamline put up-exchange workflows. This initiative is part of the wider market access program called Stock Connect, which facilitates connectivity among Hong Kong and mainland China’s markets.

The release of HKEX Synapse is scheduled for October 9, as confirmed by way of an professional release. Glenda So, HKEX Group Head of Emerging Business and FIC, expressed enthusiasm for the platform’s advent, declaring, “We are overjoyed to launch HKEX Synapse, a first-rate enhancement to our Stock Connect infrastructure so as to aid the subsequent section of boom for worldwide participation in Mainland China’s fairness markets.”

Transforming Post-Trade Processes

HKEX Synapse is poised to deliver significant upgrades in submit-alternate efficiencies. By harnessing generation and smart contracts, it objectives to domesticate a far better ecosystem that fosters each market and investor growth strategies. Glenda So emphasized, “This generation-empowered platform will not simplest enhance publish-exchange efficiencies, but will, over time, construct a better, stronger surroundings, assisting both market increase and investor boom techniques.

To achieve those dreams, HKEX Synapse leverages the open-source smart settlement language referred to as DAML. This language possesses the functionality to synchronize facts throughout blockchain networks and centralized databases, allowing seamless and stable interactions among marketplace participants.

The release of HKEX Synapse underscores HKEX’s dedication to embracing innovative technologies and reworking the economic landscape. By enhancing put up-alternate tactics and promoting transparency, this blockchain-based settlement platform is set to play a pivotal function in advancing worldwide participation in Mainland China’s fairness markets. As blockchain adoption maintains to conform, HKEX remains at the vanguard of riding high-quality alternate inside the financial industry.

Top Recommended Articles

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

Web Stories

SpaceX is a Critical Battleground for Solana and the Future of Crypto Trading

SpaceX is a pivotal battleground for Solana as tokenized stock trading hits $100M. Why perps could determine the future of crypto finance.

Crypto Exchange Luno Cuts 20% Staff, Citing Automation

Crypto Exchange Luno is cutting 20% of its global workforce, citing automation and operational changes. The second major layoff in 3 years.

Bithumb Lists O Token on KRW Market in Bid to Expand Altcoin Offerings

Bithumb Lists O token on KRW market, expanding altcoin offerings for South Korean traders amid strong local demand.

XRP (XRPUSD) Is Down 3.03% on July 28, Here’s Why

XRP (XRPUSD) Is down 3.03% at $1.0579 on July 28. Here’s why regulatory concerns, macro liquidity shifts, and whale activity are driving the selloff.

1inch opens Aqua across 13 Chains

1inch opens Aqua across 13 chains. LPs use one wallet balance to back multiple positions, maximizing capital efficiency in DeFi.

Ethereum, Solana led crypto hack losses in H1 2026 as breaches top $1 billion

Ethereum, Solana led crypto hack losses in H1 2026, with $332M and $326M stolen as breaches hit $1B total.

Digital assets, offshore: The dispute resolution gap

Digital assets, offshore structures face a growing dispute resolution gap. Courts have made progress recognising crypto as property, but frameworks lag.

Morgan Stanley Strengthens Its Crypto Strategy With 2 New ETFs

Morgan Stanley strengthens its digital asset push with Ethereum and Solana ETFs, charging 0.14% fee and passing staking rewards to investors.

Bitkub $53M Theft: Exchange Hid Hack From Thai SEC

Thai SEC files criminal complaint over Bitkub $53M theft concealed in daily reports, alleging false filings after a 2021 hack.