HKEX to Develop Platform for Post-Trade Blockchain Trial

New blockchain platform, being created together with Digital Asset, is designed for processing trading results after completion of transactions
31 October 2018   578

The Hong Kong Stock Exchange (HKEX) has entered into an agreement with the blockchain-startup Digital Asset to develop a blockchain-platform for processing trading results after completion of transactions, which will be used in the Northbound Stock Connect system. This is reported by CoinDesk.

In March, HKEX announced that it plans to follow the example of the Australian Stock Exchange (ASX), which previously shifted settlement operations to the blockchain-rails through a system developed by the Digital Asset startup. This technology is intended in part to replace the outdated clearing system CHESS by 2021.

The Northbound Stock Connect program was launched by HKEX in 2014. It allows foreign and Chinese investors to trade securities in each other’s markets using trading and clearing systems operated by exchanges from their countries.

According to the HKEX exchange, it, together with Digital Asset, has already completed work on a functional prototype of the system aimed at solving all these problems. The prototype allows a group of market participants to pre-set how the settlement operations will take place, and thus not experience difficulties due to the difference between time zones.

In addition, the test system allows real-time synchronization of the post-trading status of the transaction between asset managers, brokers, custodians and Hong Kong Securities Clearing Company Limited - the HKEX system for clearing settlements on operations with securities.

HKEX said it plans to begin a new phase of developing a platform that will involve a wider range of market participants.

Eurex to Launch Crypto Futures

Bitcoin, Ethereum and Ripple futures will be launched by Eurex, world's biggest derivates exchanges, managed by Deutsche Borse
22 February 2019   133

The Eurex financial derivatives platform, managed by Deutsche Börse, the largest German stock exchange, is preparing to launch Bitcoin, Ethereum futures and Ripple XRP token futures. This is reported by The Block.

Eurex has been closely following the cryptocurrency market since 2017, exploring opportunities to launch cryptoactive assets futures. The company also recently held a series of meetings with various representatives of the industry. The exact timing of the launch of new products is still unknown.

Eurex is one of the world's leading derivatives exchanges. It was established in 1998 as a result of the merger of the Deutsche Terminbörse German Stock Exchange Derivatives and Swiss Options and Financial Futures.

There are a lot of various futures contracts on the exchange, which are derivative financial instruments from stocks, stock indices, bonds, volatility indices, credit and interest derivatives. Access to trading on the Eurex is provided from different points of the globe.

Additionally, Deutsche Börse is preparing the launch of a blockchain platform for securities based on Corda technology.