Hong Kong Stock Exchange launches smart contract-powered settlement platform
The Hong Kong Exchanges and Clearing Limited (HKEX) plans to release Synapse, its acceleration platform , that will be powered by DAML smart contracts as from Oct. 9. Available on Stock Connect The press release on Oct. 4 revealed that Synapse will be available on Stock Connect, an HKEX channel that enables investors to access 1,000 Mainland Chinese stocks through routing in Hong Kong. HKEX Synapse is set to establish a crucial linkage with The Depository Trust & Clearing Corporation through its ITP service. This integration can benefit global investors and HKEX participants, powering central matching of cross-border transactions through DTCC’s CTM service. You might also like: Hong Kong cracks down on crypto crime As a result, settlement instructions will be automatically generated and transmitted to the Synapse platform . This will simplify trade confirmation and settlement notification process. Hong Kong aims to be a web3 hub In late September, t...