You have just signed a new agreement with the Hong Kong Monetary Authority for a clearing and settlement linkage between BondsinHongKong and the Central Moneymarkets Unit CMU. What will the agreement allow
Cobetto It will allow for straight through processing STP û the day of the paperless trade, when a buyer of a security on our system can take it all the way to the CMU for settlement and custody. With this initiative, we can start to see the way towards paperless transactions in the Hong Kong bond market.
What is the wider significance of this agreement What will it add to the market
It really enhances the efficiency of the market....