Live link speeds up global settlement for HK investors

A real-time link between the HKMAÆs debt depository and Brussels-based Euroclear allows Asian investors to hold and settle global debt securities through their local accounts.

After months of trials, the Hong Kong Monetary Authority has flicked the switch on a fully-automated link with Euroclear, the Brussels-based central securities depository. The real-time link allows non-Euroclear members to hold and settle international debt securities through their Central Moneymarkets Unit CMU accounts.

By allowing investors to channel their trades through the CMU they get access to the huge pool of securities lodged with Euroclear. The real-time nature of the new service means that investors can settle their cross-border transactions more efficiently, cost-effectively, with lower-risk and in their own time zone. It also gives them greater control over their liquidity and promises to be less costly.

Christina Lam, who runs the Hong Kong office...

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