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Modernising Hong Kong’s IPO Settlement Process

FINI (Fast Interface for New Issuance) is HKEX's proposal to introduce a new web-based service that enables professional IPO market participants and regulatory authorities to interact seamlessly and digitally on the many important steps that comprise the end-to-end settlement process.

By modernising both the logic and the infrastructure of the Hong Kong IPO settlement process, HKEX expects that the introduction of FINI will shorten the time gap between IPO pricing and trading from its current average of more than five business days to as little as one business day: reducing the settlement timeframe by as much as 80 per cent. This will give investors quicker access to new listings, reduce market risk and improve efficiency for all parties involved. This reform will benefit all of Hong Kong by making our IPO market more efficient, robust and equipped for a digital future, whilst maintain and extend Hong Kong’s global leadership as a competitive listing venue.

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Updated 16 Nov 2020