Hong Kong SFC: In discussions with the People's Bank of China on further optimizing Swap Connect

金十2026/07/07 06:02

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Golden Ten Data reported on July 7 that the Hong Kong Securities and Futures Commission issued a statement welcoming the new measures announced today by the People’s Bank of China to further support the development of Hong Kong's fixed-income and currency markets. The China Foreign Exchange Trade System will work with the Hong Kong Exchanges and Clearing to jointly establish an electronic fixed-income and currency trading platform in Hong Kong (the trading platform). Further details on the trading platform, including the launch timeline, will be announced in due course.China Government Bonds and policy bank bonds held under the Bond Connect Northbound will be accepted as eligible collateral by Hong Kong Exchanges and Clearing's two clearinghouses—the Hong Kong Futures Exchange Clearing Corporation Limited and the Hong Kong Stock Exchange Options Clearing House Limited—with the target implementation date set for the end of 2026.In addition, the Hong Kong Securities and Futures Commission is currently discussing with the People’s Bank of China about further optimizing Swap Connect, including plans to include the 7-day deposit institution repo fixing rate (FDR007) in Swap Connect contract reference rates in the fourth quarter of 2026.

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