The Hong Kong Exchanges and Clearing Limited (HKEX) plans to release Synapse, its acceleration platform powered by DAML smart contracts, from October 9.
Available on Stock Connect
The press release on October 4, it was revealed that Synapse will be available on Stock Connect, an HKEX channel that gives investors access to 1,000 mainland Chinese stocks via Hong Kong routing.
HKEX Synapse will establish a crucial link with The Depository Trust & Clearing Corporation through its ITP service.
This integration can benefit global investors and HKEX participants, enabling central matching of cross-border transactions through DTCC’s CTM service.
As a result, settlement instructions are automatically generated and sent to the Synapse platform. This will simplify the trade confirmation and settlement notification process.
Hong Kong wants to be a web3 hub
In late September, the city-state said it plans to be crypto-ready. Hong Kong is already drafting supportive crypto regulations.
The announcement of the settlement platform’s release marks another development towards Hong Kong gaining recognition as a major Web3 hub.
