The Hong Kong Exchanges and Clearing (HKEx) will launch the T+2 Finality arrangement for money settlement in the Central Clearing and Settlement System for the Hong Kong securities market, Mondovisione reports. The exchange will roll out the service on July 25 after securing an approval from the Securities and Futures Commission.
As per the T+2 Finality, securities and money settlement is completed and finalised on two business days after the trade. The arrangement will be supported by a new interbank bulk settlement run in the evening of T+2 that will be introduced by Hong Kong Interbank Clearing.
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