SFC and Hong Kong exchange to coordinate network infrastructure

CCASS/3, the exchangeÆs new central clearing system, could become part of the regulatorÆs grand plan for a single network connecting all Hong KongÆs financial institutions.

The process began in earnest when couriers stopped the physical delivery of money and stocks in the worlds financial centres, but theres no telling how far the trend towards electronic transactions and communication will go. The financial services industry is criss-crossed with networks provided by industry-owned bodies, technology vendors and governments. Some are regional in scope, others global, but all have as their goal an increase in efficiency in the industry they serve.

But hampering this goal, in many cases, is the sheer number of networks a financial institution must deal with, not to mention differing protocols and standards. In Hong Kong, however, two major projects are working together to help simplify...

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