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   1254

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 This technology is intended in part to replace the outdated clearing system CHESS by 2021.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.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   1059

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.