Hong Kong Exchanges and Clearing (HKEX) has launched an order-routing service on its fund platform as part of its move to diversify its business and support the government’s ambition to strengthen the city as an international wealth management centre.
“This centralised platform will connect participants of all sizes across the fund value chain, fostering greater collaboration and elevating operational efficiencies for the fund distribution industry,” CEO Bonnie Chan Yiting said at a ceremony to launch the service on Thursday.
“This offering underscores our commitment to further advance the development of Hong Kong’s fund distribution ecosystem and to enhance its position as a leading hub for wealth and asset management in the region.”
The order-routing service on the exchange’s fund platform was designed to facilitate seamless interaction between fund distributors and transfer agents with mutual fund companies. The funds’ subscription and redemption information will be available electronically via the platform.
A total of 33 firms, mainly mainland Chinese banks and fund houses, will use the order-routing services. This includes 17 fund distributors like Bank of China (Hong Kong), Bank of Communications (Hong Kong), Chief Securities, China Construction Bank (Asia) and Haitong International Securities.
