Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to confirm today (Wednesday) that it has submitted an application to launch a Renminbi (RMB) counter for trading of HKEX shares as part of the new Hong Kong Dollar (HKD)-RMB Dual Counter Model.
The launch of RMB counter trading under the HKD-RMB Dual Counter Model will allow investors to seamlessly interchange between securities listed in both HKD and RMB, offering a choice of trading currency and the potential to access new liquidity.
HKEX is pleased to announce it has submitted an application to launch a #RMB Counter for trading of HKEX Shares as part of the HKD-RMB Dual Counter Model, offering investors a choice of trading currency. The commencement date will be announced soon. More: https://t.co/o6eTgz6khD pic.twitter.com/LKUqv8OBEV
— HKEX 香港交易所 (@HKEXGroup) March 15, 2023
HKEX Chief Executive Officer Nicolas Aguzin said: “The addition of an RMB Counter for the trading of HKEX shares underscores our commitment to the Dual Counter Model’s successful rollout. This new programme offers investors more choice, greater flexibility and the opportunity to tap into new liquidity pools. As a market operator and as a corporate, we look forward to delivering this new initiative, strengthening Hong Kong’s position as a premier offshore RMB hub and supporting the internationalisation of the RMB.”
The commencement date and arrangements for trading and settlement of HKEX shares denominated in RMB under the HKD-RMB Dual Counter Model will be announced in due course.
HKEX, as market operator, recently announced the launch of a new HKD-RMD Dual Counter Model in the securities market and a new Dual Counter Market Making Programme to support liquidity of RMB Counters and minimise discrepancies between the two counters. Further information about the Model and other operational details are available on the HKEX website and in a circular published in December 2022.
Source: HKEX
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