1 year ago
The Hong Kong Stock Exchange’s Stock Connect system, which links Hong Kong’s banal markets with those successful mainland China, is getting an upgrade acknowledgment to blockchain technology.
According to a property release, the upgraded Stock Connect, dubbed Synapse, volition incorporated astute contracts to assistance execute post-trade workflows and trim colony risk.
Synapse is capable to simultaneously make colony instructions for each parties on the colony chain, facilitating concurrent processing, portion besides providing near-instantaneous presumption updates to each parties progressive successful the trade, a method pamphlet explains, which is important erstwhile connecting traders successful 2 antithetic markets.
The mean regular turnover of the Stock Connect totaled $15.302 cardinal (109.3 cardinal RMB) successful the archetypal fractional of 2023, up 5 percent from a twelvemonth earlier, and a 50 percent summation from 2020 levels.
In Australia, the ASX has been advised to follow blockchain exertion to regenerate its colony strategy called CHESS, the Australian Financial Review reported past year.
Synapse is scheduled to motorboat successful Hong Kong connected October 9.
Edited by Stephen Alpher.
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