Hong Kong Exchanges and Clearing Limited is undertaking a comprehensive upgrade of its post trade infrastructure across all post trade business processes and systems. This includes our central counterparty clearing, securities settlement, central securities depository, risk and collateral management and nominee functions.
At an infrastructure level, this will involve the replacement of the existing Central Clearing and Settlement System (CCASS), launched in 1992, which underpins Hong Kong’s cash securities markets. It will also replace the Derivatives Clearing and Settlement System, which underpins our listed derivatives market and originally launched in 2004.
The Next Generation Post Trade Programme, or NextGen, goes beyond simply modernising our platforms – it will prepare HKEX and strengthen its competitive advantages amid a rapidly changing business, technology and regulatory environment. In particular, HKEX is focused on ensuring that our platform is able to best serve the existing and future needs of market participants and investors.
The revitalisation of HKEX’s post trade infrastructure is a multi-year programme and will be delivered in phases. Phase 1 was recently approved by the HKEX Board and includes a Multi Asset Single Risk Engine, Data Warehouse & Business Intelligence tools together with a Client Portal.
More detailed information can be found below:
Next Generation Post Trade Platform Town Hall (Jan 2018)
We have initiated a Client Engagement Programme as part of the NextGen initiatives to maintain an ongoing dialogue with our Clearing Participants. Questions and feedback regarding our NextGen design and development are welcomed and encouraged.
Reference documents will be released to Clearing Participants according to the stage of the programme. The document list and publication dates can be reviewed below:
NextGen Post Trade Programme Documentation for Clearing Participants (Mar 2018)
Next Generation Risk Seminar: Draft Next Generation Risk Model (2018 Apr)
HKSCC Next Generation Risk Models