Hong Kong Exchanges and Clearing Limited (HKEX) recently announced a significant milestone through the signing of a cooperation agreement with Shenzhen Stock Exchange (SZSE) to bolster the development of HKEX’s Integrated Fund Platform (IFP). This collaboration entails Shenzhen Securities Communication Co. Ltd (SSCC) establishing the Financial Data Exchange Platform (FDEP) Network in Hong Kong. The FDEP Network will form the backbone of the IFP’s Communications Network, facilitating seamless communication for users engaging in crucial processes like subscriptions, redemptions, and notifications.

Glenda So, HKEX Co-Head of Markets, expressed enthusiasm about this partnership with SZSE, emphasizing its potential to enhance Hong Kong’s fund ecosystem and solidify the city’s status as a global wealth management hub. The initiative aims to foster greater cross-border connectivity in the future while streamlining the fund value chain and ecosystem in Hong Kong. By breaking down entry barriers and empowering market participants to efficiently distribute fund products, the IFP seeks to expand the fund distribution network, optimize market efficiency, and reduce transaction costs.

The IFP’s development underscores HKEX’s ongoing collaboration with regulators and industry stakeholders, underscoring the organization’s commitment to incorporating diverse perspectives and feedback in shaping the platform’s evolution. Further details on the IFP’s progress will be shared in the coming period.

SSCC, a SZSE member, plays a pivotal role in Shenzhen’s stock market by overseeing trading and settlement communications, supporting core application systems at SZSE, and delivering financial technology services such as the information technology center, FDEP, and cloud and fintech services to financial institutions.

HKEX, a globally recognized exchange group, serves as a conduit between East and West, facilitating capital flows, idea exchange, and dialogue between China and the international community. Through innovative initiatives like the Connect schemes and a diverse product ecosystem, HKEX fosters deep, liquid, and global markets, positioning itself as a purpose-driven organization committed to advancing markets and communities for mutual prosperity.